Does your credit score need improvement? Here are 10 ways that you can improve it:
Have Errors Corrected
You should know what your credit score is. Canada uses both Transunion and Equifax as credit reporting agencies. That is why it is a good idea to compare the two. You may have to pay a small fee for your credit report. However, the small investment you have to make will be well worth it.
Look over your credit report and make sure it does not have any errors. Report any errors that you find. Negative items that are more than seven years-old, late payments and credit limit amount can reduce your credit score.
Pay Bills On Time
After you have viewed your credit and corrected any errors, you can start working towards improving your credit score. Paying your bills on time every time is one of the best things you can …show more content…
It will decrease your credit score. Additionally, if you apply for a lot of credit in a short amount of time, then this may raise a red flag with your financial institutions and credit bureaus.
A Long History Of Accounts
If you have had a credit card account that you have not used for years, then you may be thinking about closing it. However, you should occasionally use your credit card and pay it off. A lengthy credit history can improve your credit score.
Mix It Up
The type of credit you are using can help improve your credit score. There are two types of credit, installment and revolving. Credit cards are an example of revolving credit. A personal loan from Borrowell is an example of an installment loan. You can improve your credit by showing your ability to manage both types of credit.
Smile. You have what it takes to improve your credit score.
Pierre Dupois is a guest contributor and spends his time painting and collecting Wonder Woman paraphernalia.
Tags:
Credit score
Personal loan
Improve
Credit file
Credit bureau
Credit
Have Errors Corrected
You should know what your credit score is. Canada uses both Transunion and Equifax as credit reporting agencies. That is why it is a good idea to compare the two. You may have to pay a small fee for your credit report. However, the small investment you have to make will be well worth it.
Look over your credit report and make sure it does not have any errors. Report any errors that you find. Negative items that are more than seven years-old, late payments and credit limit amount can reduce your credit score.
Pay Bills On Time
After you have viewed your credit and corrected any errors, you can start working towards improving your credit score. Paying your bills on time every time is one of the best things you can …show more content…
It will decrease your credit score. Additionally, if you apply for a lot of credit in a short amount of time, then this may raise a red flag with your financial institutions and credit bureaus.
A Long History Of Accounts
If you have had a credit card account that you have not used for years, then you may be thinking about closing it. However, you should occasionally use your credit card and pay it off. A lengthy credit history can improve your credit score.
Mix It Up
The type of credit you are using can help improve your credit score. There are two types of credit, installment and revolving. Credit cards are an example of revolving credit. A personal loan from Borrowell is an example of an installment loan. You can improve your credit by showing your ability to manage both types of credit.
Smile. You have what it takes to improve your credit score.
Pierre Dupois is a guest contributor and spends his time painting and collecting Wonder Woman paraphernalia.
Tags:
Credit score
Personal loan
Improve
Credit file
Credit bureau
Credit