Why You Need to Monitor Your Payment History

Your payment history is the most important factor for 
your credit score.

To Improve Your Payment History:
- Always make your payments on time
- Make at least the minimum payment if you can’t pay the full amount that you owe
- Contact the lender right away if you think you’ll have trouble paying a bill
- Don’t skip a payment even if a bill is in dispute

Use Credit Wisely
Don’t go over your credit limit. If you have a credit card with a $5,000 limit, try not to go over that limit. Borrowing more than the authorized limit on a credit card can lower your credit score.

Try to use less than 35 per cent of your available credit. It’s better to have a higher credit limit and use less of it each month.

Increase the Length of Your Credit History
The longer you have a credit account open and in use, the better it is for your score. Your credit score may be lower if you have credit accounts that are relatively new.

If you transfer an older account to a new account, the new account is considered new credit.