4.5.5 Summary of key messages

From: Financial Consumer Agency of Canada

  • Lenders use your credit report and your credit score to decide whether to lend you money, how much and at what interest rate.
  • The higher your credit score, the lower the risk for the lender and the more likely you are to get credit on favourable terms.
  • Check your credit report at least once a year from Canada's two credit-reporting agencies.
  • You can improve your credit score by following better credit practices for a period of time.

At the end of the module, you will find an Action plan. This is a tool that you can use to track your progress and take the next steps to manage credit successfully in the future. Use the action plan as a roadmap for financial action!

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