April 6th, 2021

How Can I Improve My Credit Score?

If you feel that your credit score has room for improvement, here are some useful tips:

• Make sure all bill payments are made on time.

• For credit cards/credit lines: do not carry a balance. Use the card for something you need, and then pay the full balance when your statement arrives. If you're offered additional credit, consider taking it as long as you can keep your balance low. (Note: if you're inclined to carry a large balance, it's best to control yourself with a lower limit.)

• Instead of relying on your credit card in case of an emergency, it's best to work towards putting savings and investments in place as a buffer.

• Avoid carrying an overdraft on your accounts.

• Avoid making too many credit applications; this can lower your score.

• You may have an error on your credit score – so be sure to check for accuracy!

If you, or your children/grandchildren need assistance with credit score guidance, we’re happy to help.

Reach out to one of our advisors in Huntsville, Powassan, North Bay, Parry Sound or Orillia today.

- Spire Advisors of Assante Capital Management Ltd.