Canadian Banks | Forums | Terms of Use

Welcome to the Canadian Financial Forums forums.

You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!

If you have any problems with the registration process or your account login, please contact contact us.

Go Back   Canadian Financial Forums > Canadian Financial Forums > General Finance

Reply
 
Thread Tools Display Modes
  #1  
Old 07-24-2008, 04:18 PM
dreamy dreamy is offline
Member
 
Join Date: Jun 2008
Posts: 34
Default How can I improve my credit score

How can I improve my credit score. What is the best way of doing that?
Reply With Quote
  #2  
Old 07-24-2008, 05:07 PM
trent trent is offline
Senior Member
 
Join Date: Jun 2008
Posts: 387
Default

First get a copy of your credit report - you can get 1 copy per year for free. Once you have the credit report, make sure that all information there is correct. If there are any errors on the report, report them to the credit bureau ASAP, and ask for correction.

The thing that affects your credit score most is your credit history. In order to improve your credit history, you have to start paying your credit card and other credit bills on time. One more thing that will have huge positive impact on your credit score is getting rid of debt. To do that you will have to make a budget and spend less than you ear after taxes. Everything that is left over after you have paid your expenses must go towards your debt repayment.

Stop opening new credit accounts, as this might negatively affect your score.
__________________
No debt
Reply With Quote
  #3  
Old 07-24-2008, 05:52 PM
Canadian Canadian is offline
Senior Member
 
Join Date: Jun 2008
Posts: 415
Default

If your credit score has been damaged, then you will most likely have a problem getting a new credit. If you have this problem, then you can apply for a secured credit card, (these applications are approved most of the time). Once you have the secured card make sure that you use it responsibly and pay it ALWAYS on time. This will help you get back on track.
__________________
Bear with me please
Reply With Quote
  #4  
Old 07-28-2008, 06:13 PM
bullish bullish is offline
Senior Member
 
Join Date: Jul 2008
Posts: 155
Default

Quote:
Originally Posted by dreamy View Post
How can I improve my credit score. What is the best way of doing that?
have you had any credit problems in the past. Do you know what is your current credit score?
Reply With Quote
  #5  
Old 07-30-2008, 02:49 PM
ggonzo ggonzo is offline
Junior Member
 
Join Date: Jul 2008
Posts: 29
Default

It is not a fast and easy task. You have to start making payments towards your credit card debt (if you have any) and don't make only the minimum. Try to pay them off as soon as you can. Also pay them on time - this is not only for credit card debt, but for any other loan you took.
__________________
have a good day
Reply With Quote
  #6  
Old 11-13-2008, 04:14 PM
dreamy dreamy is offline
Member
 
Join Date: Jun 2008
Posts: 34
Default

Thanks for all the suggestions. I probably will consolidate my bills and Will try to pay off my debt little by little...
Reply With Quote
  #7  
Old 11-13-2008, 04:34 PM
Canadian Canadian is offline
Senior Member
 
Join Date: Jun 2008
Posts: 415
Default

Try paying your debt as soon as possible. There's nothing better than living debt free, especially in challenging economic environment.
__________________
Bear with me please
Reply With Quote
  #8  
Old 11-14-2008, 09:01 PM
bullish bullish is offline
Senior Member
 
Join Date: Jul 2008
Posts: 155
Default

Quote:
Originally Posted by Canadian View Post
Try paying your debt as soon as possible. There's nothing better than living debt free, especially in challenging economic environment.
If interest rates are low it doesn't make much sense to pay off debt faster.
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT. The time now is 07:03 AM.


Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2018, vBulletin Solutions, Inc.