Tag Archive: free credit score

Equifax Canada recently announced it was getting rid of the “Beacon” score, which lenders use to assess mortgage applicants. It’s replacing it with the “FICO” credit score. “The FICO Score has been a critical part of the lending process in Canada for nearly 30 years,” said FICO Canada’s Kevin Deveau in a press release. So we dug a little deeper...

Imagine this. You’ve just found the perfect house after weeks of searching. You’ve clawed together every available dollar for the down payment. You’ve gathered up all the necessary documents. And you’ve found an amazing mortgage rate on the Spy. But wait. What’s that? Your credit score has sunk to 645?!? Those two missed payments, 85% credit utilization and recent credit...