Debt Free In 30

More credit means a higher score, right? Not exactly. #debtfreein30 Many assume more loans and higher credit means a higher score, but the reality is more complex. Doug Hoyes and Ted Michalos break down how multiple loans impact your credit score and share expert advice on when accessing more credit makes sense—and when it doesn’t. (0:00) – What impacts your credit score? (5:35) – How important is your credit score in Canada’s unique rating system? (6:45) – Understanding credit utilization rate and debt-to-income ratio (9:00) – What’s the difference between hard and soft inquiries? (14:30) – The impact of credit history and canceling accounts (16:30) – Why missed payments hurt more than you think (17:40) – A fictional but realistic debt scenario (24:20) – Why dealing with your debt should be your priority—and how to start (26:00) – How to decide if taking out another loan is the right move Credit Card Debt Consolidation in Canada - What You Need to Know What is Credit History and How To Influence It