Just in case people were wondering, FICO or Fair Isaac Corporation is your major credit score provider in Canada. FICO deals with Equifax.

Equifax is the main credit bureau in Canada.

This is important when you go for a loan or mortgage or credit card and the lender says "your credit score is such and such". This is what they're talking about.

Credit scores in Canada affect your interest rates and service charges. If you have a low credit score, you're going to pay a higher interest rate. This is because, the lower your credit score, the more of a risk you're believed to be.

In a mechanical credit era, the FICO score is really important.