A great credit score not only allows you obtain credit. It will get you better interest rates as well. And better interest rates on your credit cards, loans, and mortgage will save you thousands of dollars.

Check your scores at the websites of the two major credit bureaus: TransUnion (www.transunion.ca) and Equifax (www.equifax.ca). If you need to improve your credit score, here are a few suggestions:

- always make all of your payments on time, even if you can only pay the minimum

- keep your debt below 50% of your credit limit (over that will harm your score)

- keep only the credit cards you can use well (usually that is not more than 3)

- when you cancel credit cards, keep the oldest ones to improve your score 

To learn more about credit records, credit bureaus, and improving your credit score, come to our monthly “Credit Comeback” seminar. Our next one is November 26. Check this website to sign up.