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Who's Keeping Score: Most Canadians Don't Know the Impact of Credit Scores
Who's Keeping Score: Most Canadians Don't Know the Impact of Credit Scores Who's K...
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[{"type":"text","content":"\n\n\n\nWho's Keeping Score: Most Canadians Don't Know the Impact of Credit Scores\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nWho's Keeping Score: Most Canadians Don't Know the Impact of Credit Scores\nCanada NewsWire\nVANCOUVER, Oct. 4, 2016\n\n\n\nNew survey reveals that a majority of Canadians are unaware of the role credit scores play in their lives \n\n\n\nVANCOUVER, Oct. 4, 2016 /CNW/ - A credit score is the most important ranking consumers will get as adults because a bad credit score can create major road blocks, personally and financially. From landing that dream job, to renting an apartment or getting a mortgage, credit scores can affect key life events that nearly every consumer will face. That said, there is still a lack of understanding amongst Canadians about the role credit scores play in their adult lives.    \n\nMogo Finance Technology Inc. (\"Mogo\") (TSX: GO) recently engaged MARU/VCR&C to conduct a nationwide survey to determine if Canadians understand the impact of credit scores and who looks at them. The survey revealed that while 72 per cent of consumers recognize that lenders and financial institutions look at credit scores during the loan application process, most Canadians don't know who else is looking at their credit score: \n\n\nEighty-one per cent of Canadians don't realize that an employer may check their credit score when being considered for a job position \nTwo-thirds of Canadians don't know that insurance agencies or cell phone companies might look at credit scores during the application process (67% and 66%, respectively) \nSixty-one per cent of Canadians don't know that landlords often look at credit scores as part of a rental application \nMore than half (51%) of Canadians don't know that small business lenders look at credit scores when approving a small business loan\n\nThe verdict: a majority of Canadians don't realize that credit scores can affect different areas of their life and impact important decisions if not monitored. However, credit scores are actually one aspe...