Headline Details Canadians want to understand how the actions they take or the services they use might impact their credit score.

Why is this important?

Financial institutions use credit scores to decide whether to lend a consumer money. Credit bureaus and lenders often do not share the formulas they use to calculate credit scores. For this reason, it is difficult to know the impact actions can have on credit scores.

The analysis is based on research and the findings supplied by the adopters of the National Financial Literacy Strategy Measurement Plan. The related findings can be found at the bottom of this page.