# What's your credit score?



## namelessone (Sep 28, 2012)

My Equifax score is 812, better than 77% of Canadian consumers.


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## Guban (Jul 5, 2011)

Not a clue. Never had a problem getting a credit card. Don't carry any debt. Don't plan on getting any new debt.

What are you going to do with that great score? Does it reduce your borrowing cost?


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## cainvest (May 1, 2013)

Don't know mine either, never cared to look.


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## KaeJS (Sep 28, 2010)

800+

I don't know the actual number, but I had an agent tell me before that I was in the 800's.


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## jerryhung (Mar 28, 2011)

I check often now with the free Equifax Unlimited plan (from Home Depot breach)

I'm in 700~750 range all the time, probably because I churn credit card applications 
Never got declined due to credit score though, so I think it's not a big issue.


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## NorthKC (Apr 1, 2013)

As of last week, 862. I have always fluctuated between 750 and 875 depending on the number of applications at a certain point in time, number of loans or amount of balances around at the same time. I know it's good enough that I'm getting credit card offers and upgrades almost every day in the mail. It's quite annoying! haha


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## brad (May 22, 2009)

I've never checked mine either but have always been told by lenders that I had excellent credit.

A credit score is important if you're applying for a mortgage or other loan, and it can also affect the rates you get from insurers. But credit scores operate on thresholds; in general anything above 720 is usually considered "good credit," and you likely don't get any better rates if your score is in the 800s than if it's 730. 

Some people game their credit scores as a hobby: they figure out the optimal number of credit cards to have, the optimal balance to carry, etc. in order to get the highest possible score. To me it seems like a lot of work for no real benefit, but after talking with a few people who do it I realized that to them it really is just a game, they're trying to get and maintain a high score just as you would in a computer game.


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## Guban (Jul 5, 2011)

Our credit score helps determine how much we pay for home insurance. Don't know if it is car insurance too. Thought it was only in the US, but it appears that maybe we should care. 

http://www.cooperators.ca/en/Insurance/home.aspx


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## Sherlock (Apr 18, 2010)

Is there a way to get my score for free? The equifax website wants $23.95 and I'm too cheap to pay that.


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## Synergy (Mar 18, 2013)

No idea what my score is. No debt, always pay my bills on time, etc. so it must be okay.



Sherlock said:


> Is there a way to get my score for free? The equifax website wants $23.95 and I'm too cheap to pay that.


I cam across an ad for a site called Credit Karma the other day. If it's legit, then it may be a viable "free" option for you.
https://www.creditkarma.com/
http://20somethingfinance.com/credit-karma-review/


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## dotnet_nerd (Jul 1, 2009)

Sherlock said:


> Is there a way to get my score for free? The equifax website wants $23.95 and I'm too cheap to pay that.


You're not missing much. I got a free account from the Home Depot fiasco. I don't bother with it though.


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## sags (May 15, 2010)

Credit scores do make a big difference though.

When we bought our new car, the guy put in the application for financing and came back and said we qualified for 0% financing.

I asked him what happens if we didn't, and he pointed to another office cubicle and said we would go over there and that guy would get us credit at a much higher rate.

I said no............you wouldn't be selling us the car. He laughed and said he sends a lot of people over to the other cubicle who probably shouldn't be buying a new car.

It made me wonder how soon before the subprime market collapses..........but remembered that we don't have a subprime market in Canada.............LOL............


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## uptoolate (Oct 9, 2011)

Never checked.


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## Eder (Feb 16, 2011)

I thought that was an American thing. I might check out CIBC's credit score to see if I should continue dealing with them perhaps?


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## cainvest (May 1, 2013)

Guban said:


> Our credit score helps determine how much we pay for home insurance.


When I review my home ins with my broker we go line by line on the possible discounts, credit score has never come up.


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## Synergy (Mar 18, 2013)

cainvest said:


> When I review my home ins with my broker we go line by line on the possible discounts, credit score has never come up.


If you have very good credit and are willing to take a soft hit, then you may be able to save a few bucks (10-15%) on your home insurance. Talk to your Broker. Not all insurers offer this, but some do. Intact is one example.


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## cainvest (May 1, 2013)

Synergy said:


> If you have very good credit and are willing to take a soft hit, then you may be able to save a few bucks (10-15%) on your home insurance. Talk to your Broker. Not all insurers offer this, but some do. Intact is one example.


I'll mention it next time my renewal comes up, I'm sure my credit rating is high.


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## TheArrow (Jan 13, 2014)

854 from Equifax


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## RBull (Jan 20, 2013)

Answer: Good enough.


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## hboy43 (May 10, 2009)

RBull said:


> Answer: Good enough.


Same here. Never checked it. 

I must be doing something right because on my primary card which has never had a balance over ~$5K, and has a limit of I don't even know $12K or $16K, I keep getting offers to raise it.

I wonder what exactly in their client modelling methods makes them think I am going to do something new and interesting and to their benefit with credit, when I have been behaving the same way about 35 years now ... The best way for them to improve the bottom line with me is to stop the direct marketing and save the stamps and envelopes.

hboy43


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## GreatLaker (Mar 23, 2014)

RBull said:


> Answer: Good enough.


Great answer.

I find it very disingenuous of the credit rating agencies that are supposed to be helping consumers, yet they highlight costly subscription based services on their websites but relegate the link to request a free consumer disclosure to the bottom of the page.

If you want to know how good your credit is, just ask your banker.


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## marina628 (Dec 14, 2010)

The only time i worried about my credit score was when I bought 3 homes in 7 months in 2009 ,the screwed up part of this system is if you have very few credit accounts your score is generally lower than somebody who has many open revolving credit files.If you pay your bills ,even if you carry credit card balances it should be good enough just don't even exceed these credit limits .


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## sags (May 15, 2010)

hboy43 said:


> Same here. Never checked it.
> 
> I must be doing something right because on my primary card which has never had a balance over ~$5K, and has a limit of I don't even know $12K or $16K, I keep getting offers to raise it.
> 
> ...


Or...........you just might get that letter in the mail on the very day you were looking at that great condition, low mileage Pontiac Solstice roadster, at an unbelievably low price.

And there you are...."driving along in my automobile.....my baby beside me at the wheel, cruising and playing the radio....with no particular place to go" 

That is what the lenders are hoping anyways


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## Mortgage u/w (Feb 6, 2014)

Don't care to know my score cause I know its good enough. Paying Equifax to obtain your own score is robbery. If you have bad credit, you will know.

A bad score is anything below 600. To be there, you're either in the middle of a bankruptcy or simply decided to max out all your debts and not pay them anymore. Scores of 600 to 650 are acceptable and good enough to get approved for almost any credit. 650 and above, you have nothing to worry about. As long as you don't have any current late payments, very difficult to get refused for credit. There really is no reason to try to attain the highest score possible....unless you want bragging rights.


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