Category: Tips & Guides

According to the Equifax credit bureau, the average Canadian credit score is 700. However, credit scores in Canada vary based on scoring models used by the credit bureaus.   According to the Borrowell database, the average Canadian credit score in 2022 was 672 and 667 in 2021. A credit score helps determine your creditworthiness, and if you… Read more

Are you wondering what the Canada PRO deposit in your online banking/bank statement is and why you received it?  Canada PRO is a Canada Revenue Agency (CRA) payment.  If you recently received a Canada PRO deposit, then you were found to be eligible for this tax credit after CRA assessed your taxes.  What is Canada… Read more

A side hustle is any type of job or business that you undertake in addition to your primary source of income, often done outside of regular working hours. Side hustles range from part-time jobs and freelance gigs to small businesses or entrepreneurial ventures. The purpose of a side hustle is typically to earn extra money,… Read more

Are you wondering what the Canada FED deposit in your bank account is and why you received it?  Canada FED is a Canada Revenue Agency (CRA) payment.  If you recently received a Canada FED deposit, then you were found to be eligible for a tax credit after CRA assessed your taxes, or you applied for… Read more

Are you wondering what the Canada RIT deposit in your online banking/bank statement is and why you received it?  Canada RIT is a Canada Revenue Agency (CRA) payment. Canada RIT acronym stands for “Refund Income Tax.” If you recently received a Canada RIT deposit, then you were found to be eligible for a tax refund… Read more

In Canada, if your credit score falls between 660 and 724, that’s seen as pretty good. If it’s between 725 and 759, it’s even better, and anything 760 or higher is top-notch. But if your score is between 300 and 559, that’s not so great. Read more