Note: This example is only an illustration of the type of information provided when a TransUnion credit product is purchased. The information in the example is fictitious and does not reflect your personal situation. You must purchase a TransUnion credit product to obtain credit information that pertains to your personal situation. Credit Score Example Your credit score is 700   Based on your credit profile data, this is a numerical depiction of your creditworthiness. Your credit ranks higher than 35.93% of the Canadian population   Based on your credit score, this is how your credit standing compares to the rest of Canada. Your creditworthiness is Fair   Based on your credit score, this is how you may be viewed from a lender's perspective. Background Your credit score is created using a mathematical formula that measures data from your credit profile. Credit scores evaluate your payment behaviour, debt levels and credit history. Factors like income, race and gender are not measured in the scoring process. The credit scoring system is used by lenders, insurers, landlords, employers, utility companies and even judges to evaluate your credit behaviour. Having a high credit score will help you receive the best rates on new credit and loans. Summary Your credit score is satisfactory. You may be able to qualify for new credit and loan offers but will probably not receive the best rates. You might have to pay a deposit or down payment to receive a credit card or loan. Lenders will use your credit score along with income, employment and debt information to determine your interest rates. You will probably be able to improve your credit score within a year by reducing your debts, maintaining record accuracy and paying your bills on time. Explanation There are several factors taken into account that help determine your credit score. The factors making the largest impact are listed below. Remember that these factors vary in how strongly they impact your credit score. For example, if you have a very high credit score, the negative factors in your analysis are likely to have a small impact. For very low credit scores, the opposite is true in that negative factors have a very large impact on your credit. Here are the top factors that make your score lower: There are too many consumer finance company accounts on your credit report. Having too much available credit can sometimes harm your credit score. Lenders may feel that you have the ability to spend more than you could potentially pay back. You might want to consider closing a few accounts or asking to have your credit limits reduced. Avoid closing too many accounts - especially the oldest accounts on your credit profile - because it could harm your credit score. Your account balances are too high. High levels of debt can signal to potential lenders that you are spending more than you can afford. It is a good idea to use your credit cards regularly but remember to keep your balances below 35 percent of your available credit limits. If you have balances above 35-50 percent, you could see your credit score start to drop. There is not enough recent revolving account information on your credit report. Using your credit accounts regularly is an important part of building healthy credit. Lenders will be able to better evaluate your creditworthiness if there is more data about your payment and spending behaviour on your credit report. Using a credit card to make a few purchases each month may help improve your credit score. Your loan balances are too high in comparison with your loan amounts. High levels of debt can signal to potential lenders that you are spending more than you can afford. It is a good idea to use your credit cards regularly but remember to keep your balances below 35 percent of your available credit limits. If you have balances above 35-50 percent, you could see your credit score start to drop. Additional Information The TransUnion TransRisk Account ManagementSM Credit Score is provided to help you better understand how lenders view your credit report. It is not an endorsement or a determination of your qualification for a loan. Lenders use credit scores to help determine whether or not you are a good candidate for a loan and what interest rate you will pay. However, each lender has specific underwriting standards, so you should not assume that you will receive the same evaluation from each lender. As part of the underwriting process, they will incorporate additional information you provide and may obtain references. In addition, even if you are approved, the terms and conditions of loans vary from lender to lender. The information used to determine your credit score comes from TransUnion, one of the major credit reporting agencies. Credit profiles are a compilation of credit information that is reported to the credit reporting agencies by the various lending institutions with which you have accounts. The information contained in your profile reflects the latest information provided. If you recently made a payment, opened a new account, or authorized an inquiry, it may not yet be reflected in the credit profile you receive. Likewise, it will not be reflected in your credit score. Also, disputed items are not incorporated in the assessment of your credit score. Your credit score will change each time new information is captured in your record. TransUnion is not connected in any way with Fair, Isaac and Company; the credit score provided here is not a so-called FICO score. The credit scores of TransUnion may not be identical in every respect to any consumer credit scores produced by any other company.