Always check your credit report. The report will give you an indication of your credit situation at all times.
The credit report also helps you to avoid any fraudulent credit activity occurring under your name. These types of events can drastically affect your credit.
The credit report will also keep you apprised of any existing or new credit lines applied to your credit report in error.
Equifax is the best credit reporting tool available for all Canadians for a fee.
Payment history is the number one factor that affects a customer's credit score. Your credit will not improve unless you get your accounts up to date.
It is always best to reach out to the financial institution you are dealing with if you are faced with any financial hardships to negotiate payment arrangements that work for you and the financial institution.
Once you have established an auto loan or wish to improve your credit, the customer should acquire a secured credit card to help rebuild their credit. Using a credit card creates a consistent payment history for the customer, which helps increase the customers' credit score.
By properly managing your credit card helps us prove to the lenders that you are responsible enough to take on additional debt.