Why Your Credit Score Is Costing You More Than You Think

A Canadian with a strong credit score can qualify for dramatically better mortgage rates, lower car loan rates, lower borrowing costs, and better financial products. Over a lifetime, the difference between an average score and an excellent score can easily reach $200,000 to $300,000 in additional interest paid. And according to Borrowell, the average Canadian credit score is only 679—good enough for approval, but often not good enough for the best rates. In this video, we break down exactly how credit scores work in Canada, what mistakes are hurting millions of Canadians, and the five-step system that can move your score from average to excellent. You'll learn: ✅ How Canadian credit scores are actually calculated ✅ The difference between Equifax and TransUnion ✅ Why a low score can cost you over $100,000 on a mortgage ✅ The 5 factors that determine your credit score ✅ Why credit utilization matters more than most people realize ✅ The common mistakes Canadians make while trying to improve their score ✅ How closing old credit cards can actually hurt you ✅ The fastest way to improve your score in 30–60 days ✅ The exact 5-step plan to reach a 760+ credit score