{"id":990,"date":"2016-02-26T13:46:56","date_gmt":"2016-02-26T18:46:56","guid":{"rendered":"http:\/\/localhost\/osborne\/?p=990"},"modified":"2021-12-23T07:01:22","modified_gmt":"2021-12-23T12:01:22","slug":"whats-your-credit-score","status":"publish","type":"post","link":"https:\/\/www.osborne-group.com\/fr\/whats-your-credit-score\/","title":{"rendered":"What\u2019s Your Credit Score?"},"content":{"rendered":"

I was watching a sitcom the other night…I won’t say which one.\u00a0 I\u00a0can<\/em><\/strong>\u00a0say it was American, and I\u00a0know that for many\u00a0reasons. \u00a0Not\u00a0the least of which is\u00a0because the dialogue was peppered with references to the main character’s “FICO score”.<\/p>\n

What is a FICO score?\u00a0\u00a0 FICO is the acronym of the company that developed this credit score. \u00a0The name of the company is\u00a0F<\/em><\/strong>air\u00a0I<\/em><\/strong>saac\u00a0CO<\/em><\/strong>mpany, thus “FICO”\u00a0<\/em><\/strong>score.\u00a0\u00a0\u00a0 A credit score is a score calculated from information on your credit bureau file.\u00a0\u00a0 Banks, credit card companies, loan companies use credit scores in their credit adjudication processes. When\u00a0you apply for a loan, chances are the credit granter is using your score to determine how you manage your credit. And they use that information to decide whether you are worthy of receiving that loan.<\/p>\n

In Canada, we call them “scores” or “credit bureau scores”. \u00a0This is because they are only available through the only two national credit bureaus in Canada: \u00a0 Equifax and TransUnion. \u00a0The term “FICO score” is generally not known to or used by Canadian consumers.<\/p>\n

A majority of Canadians do not know a lot about their credit score. What is it? How is it calculated? How does it impact me?<\/p>\n

It’s really important for consumers to understand what their score is and how to keep it high. \u00a0Scores range from 300 to 850.\u00a0 A good score is anything over 700+.\u00a0\u00a0 The lower the score, the higher the risk, and the less chance the credit granter will approve you for that loan you so dearly want.<\/p>\n

So how many people have never checked their credit score?<\/p>\n