Credit Repair, Mortgages, Serving GTA, Canada

Strategy 2: Keep Your Credit Card Balances Low. Payment history on credit cards accounts impacts your score. Another factor that's considered in the calculation of your credit score is your credit card balances. Having a balance that represents 65 percent or more of your overall available credit limit on each card will actually hurt you, even if you make all of your payments on-time and consistently pay more than the minimum due. If you have a $1,000 credit limit on a credit card, ideally, you want to maintain a balance of less than $650, and make timely monthly payments on the balance that are above the required monthly minimums.

Tip on how to keep credit score high. Strategy 1: Pay Your Bills on Time. It may seem extremely obvious, late payments are the most common piece of negative information that appears on peoples' credit reports and are often responsible for significant drops in credit scores. When it comes to loans and credit cards, it's important that you always make payments on time each and every month, with no exceptions.Set up automated minimum payment with your bank so you will never miss another payment. The impact on your credit report and credit score will be considerable if you're late or skip one or more mortgage payments, however, making late payments on other types of loans or defaulting on any loans will also have a disastrous impact on your credit score that will have an impact for up to seven years.