Improve Your Credit Score

The tips on this FICO page link on how to improve your FICO credit score will also help you steer clear of financial trouble.

You'll see a lot of other credit score information on the page, including a link to see how much money you might save if you raise your credit score.

People with low credit scores generally have to pay more for borrowing because they're often  charged higher interest rates on their consumer debt. (Not government student loans, though. They charge the same rate from everyone.)

Will You Face a Credit Check for Your Student Loans?

If you want to improve your score because you have to pass a credit check to get your student loans, don't try to go by the FICO score information above. Credit rules are different for government student loans in Canada.

You can see how student loan credit checks work in Canada on the Credit Checks page in Debt 101 FAQs.