Tag Archives: collections

How Can You Change That Low Credit Score?


Low credit score–you had no idea! How did it happen without you even being aware? Look, if you don’t pay attention to your financial habits and work to keep your credit rating healthy, it will drop, and you won’t be alerted about that either. It’s murky waters out there, but you can keep from drowning. Too many Canadians are hit hard with a poor credit score they had no idea about. The sad news is that bad choices from the past can come back and haunt you, ruining what was a great score before you ever realize what is happening. The tips below can help you avoid financial mistakes and help you to get your credit score back up where you need it to be!

¬†Let’s Get Started Getting That Credit Score In Shape


So, the first step to take is to become more proactive with your finances and your credit.  Understanding how to keep track of data like this can help you catch a suspicious transaction that has the potential of destroying your credit too.

  1. ¬† If you carry a high balance on your credit card every month (even if you pay it off) it goes against you. This makes it appear you rely on your credit card to survive month to month. Some have the idea that this builds credit, as long as there is a 0 balance carried over. It’s simply not true. Don’t exceed 40% of your available credit.
  2. One of the biggest mistakes an individual can make is applying for too many credit cards. Every time you apply for a credit card you have the potential of denting your score. This makes you look needy and might steer good creditors away.
  3. Sadly, some Canadians can find their accounts sent to collections without ever having any idea of it. Those accounts which are more prone to this happening are medical. It might not seem fair, but it happens almost daily. Much of this falls onto the fault of insurance companies not paying claims on time. However, consumers are the ones who suffer financially.
  4. You need to consistently check for errors on your credit report, because they do happen. If you find something that is concerning, or which you know is not accurate then you should make the proper contact so that the issue can be resolved and your credit can be repaired.


Just these 4 simple practices can help to make a difference in your financial habits and certainly your credit rating. We all make mistakes, it’s natural. It’s how you approach your mistakes that change your life. Start building a good, solid credit history today and pay attention to your own financial habits as well. Slowly but surely you’ll see that score begin to rise!