Cost of Living

Economic adulting: decoding credit scores

Credit is baked into the fabric of Canadians' finances - so we dive into the world of credit reports to explain how to maintain a good credit score.

What you need to know to build credit and keep your score sky-high

Your credit score is about more than the balance owing on your credit card. Credit bureaus look at all your bills, including telecom, utilities, mortgages and more to determine your final score. (Zimmytws/Shutterstock)

Credit is baked into the fabric of every Canadian's finances.

Whether it's the bank deciding mortgage rates, or The Bay offering discounts with their store-branded credit card, your reputation with a credit bureau can save you or cost you. 

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It's virtually impossible to participate in the economy without credit.

But what are Canada's credit bureaus looking at when they influence what you pay — to whom — and at what rate of return?

Producer Anis Heydari dives into the world of credit reports to find out what you need to know to build and maintain a good credit score.

Click 'Listen' at the top of the page to hear this segment, or download the Cost of Living podcast.


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