What does a 700 Credit Score Mean in Canada?

In Canada, your ability to borrow money or make large purchases is partially based on your credit score. Your credit score is based on your credit history, credit utilization, debt-to-income ratio, any collections or bankruptcies as well as how many credit tradelines you have on your credit report and how many credit accounts you have on your credit report. While many people think it’s how much money you have that dictates your purchases, it's actually a smaller piece of the puzzle than you would think.


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