The best way to improve your credit score is paying your bills consistently on time. The longer history you have paying bills on time, the stronger your credit score will be. Paying your bills on time shows you are responsible and care about your credit.
It is also important to keep track of how much debt you have. Try not to have debts more than 20% of your annual gross salary. Creditors look very closely at your debt ratio when you are applying for loans and other credit.
Having a good budget also helps with your credit score, because it tells you when your bills are due and this will avoid late payments. If you have accounts that are past due, try to bring them current as quickly as possible.
It takes a long time to build a good credit history, and every improvement you make to your credit score will help you to build a solid financial future.
If you found yourself in financial problems or you looking for the solutions how to rebuild credit after a bankruptcy in Canada – feel free to contact us and book a free consultation.