Borrow with your eyes open.
The Mccullough Company turns credit and personal finance into clear, honest explanations — so you can weigh every loan, card and payment with confidence.
Debt payoff planner
See what a little extra each month can do.
Illustration only: assumes a fixed rate, monthly compounding and no new purchases. Not advice or an offer.
Four habits behind every article
Cost before comfort
A low monthly payment feels kind, but the total cost is the truth. We always start with what a loan costs from first payment to last.
Questions are welcome
Good lenders and good advisers like questions. We show you which ones to ask — about fees, rates, renewals and what happens if you miss a payment.
Plain, not simple-minded
We keep the real detail but drop the jargon. If a term earns a place on the page, we explain it in a sentence you could tell a friend.
Your numbers stay yours
Every calculator on this site runs inside your own browser. Nothing you type into it is saved or sent anywhere.
Canadian credit, in five facts
Small pieces of knowledge that change how you read an offer. Rules can change, so always confirm current details with official sources.
A legal ceiling on interest
Since 1 January 2025, Canada's Criminal Code sets the criminal interest rate at 35% APR, with certain exemptions. It is a ceiling, not a target — most sound credit costs far less.
Criminal Code of CanadaThe Canadian score range
Equifax Canada and TransUnion Canada score consumers between 300 and 900. Scores differ between bureaus because their data and models differ.
Credit bureausThe utilization sweet spot
Using less than about 30% of your available credit limit is a common guideline for keeping a card profile healthy.
Free credit report, every year
You can request your credit report from each of the two main bureaus for free by mail or online. Reading it for errors is a good annual habit.
FCAC guidanceThe doubling shortcut
Divide 72 by an annual rate to estimate years to double. At 8% your money doubles in about 9 years; at 24%, a debt can double in about 3.
Give every dollar a job
Pick a framework, enter your monthly take-home income and see how it splits. The classic 50/30/20 rule is a starting point, not a verdict — adjust it to your life.
- Needs: housing, groceries, transport, minimum debt payments
- Wants: the things that make life enjoyable
- Savings & extra debt payments: your future self
Slide to see what a score means
Typical bands used in Canada; individual lenders set their own criteria. Illustrative, not a prediction.
The Mccullough app is comingSoon
Calculators, bite-size lessons and gentle reminders you set yourself — all in your pocket. We're putting the final touches on it for the App Store.
- Debt, budget and savings tools that work offline
- Two-minute lessons on credit, in plain English
- Your numbers stay on your device
Want a launch note? Email us.
Quick answers
Interest rate or cost of borrowing — what's the difference?
The interest rate is the price of the money itself. The cost of borrowing adds fees and other charges. In Canada, lenders must disclose the total cost of borrowing and the annual percentage rate so offers can be compared fairly.
Is it better to pay a little extra or save the money?
It depends on the rates. When a debt's rate is higher than what savings can realistically earn, extra payments usually win. Keeping a small emergency buffer first helps avoid new borrowing.
Does checking my own credit report lower my score?
No. Looking at your own report is a "soft" check and does not affect your score. Applications for new credit can create "hard" inquiries.
How long do negative items stay on a credit report?
It varies by type of item and province, but many stay for roughly six to seven years. Positive habits like on-time payments help over time.
Is this website financial advice?
No. Everything here is general information for education. For decisions about your own situation, speak with a licensed professional.