{"id":116403,"date":"2024-11-16T07:00:00","date_gmt":"2024-11-16T12:00:00","guid":{"rendered":"https:\/\/milesopedia.com\/news\/improve-your-credit-score\/"},"modified":"2024-11-16T12:00:07","modified_gmt":"2024-11-16T17:00:07","slug":"improve-your-credit-score","status":"publish","type":"post","link":"https:\/\/milesopedia.com\/en\/personal-finance\/credit-score\/improve-your-credit-score\/","title":{"rendered":"How can you improve your credit score?"},"content":{"rendered":"

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Whether you’re a point hunter or just a credit card user, do you know the impact of credit card applications and usage on your credit file and score? In this guide, we remind you how credit scores are calculated in Canada. But, above all, we share our best tips to improve your credit score<\/strong>! <\/p>\n

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Of course, the first step to improving your credit score<\/strong> is to get to know it. In fact, you should regularly check your credit file and score with the Equifax<\/a> and TransUnion credit bureaus. If necessary, you can take steps to improve it. In fact, here are our guides to help you consult your credit file: <\/p>\n

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What’s more, some banks allow you to check your credit score from their secure platforms or mobile applications.<\/p>\n

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A credit score<\/a> is a means by which banks, financial institutions and other lenders evaluate your ability to repay your debts, including your credit history. A low credit score indicates that you are less likely to repay your loan on time. Conversely, a good credit score<\/a> indicates that you have the ability to repay your current and future debts. <\/p>\n

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Here’s how credit scores are calculated by credit bureaus in Canada:<\/p>\n