Each lender decides which credit score range it considers a good or poor credit risk. Typically, the higher the score the better. If you’re looking to improve your credit score, TransUnion recommends the following:
- Pay your bills on time: Late payments, collections, and bankruptcies have a negative effect on your credit score.
- Keep your account balances below 35% of your available credit. For example, if you have a credit card with a $1,000 limit, try to keep the outstanding balance below $350.
- Check your credit report on a regular basis to make sure the information is accurate. If you’re registered for TransUnion Credit Services through Scotiabank, you can check your credit report by signing in to your account online or using the mobile banking app.
Go to our website to read more about why you should find out your credit score. Visit transunion.ca to learn more about your credit score and report.
Ideally, you want your credit score to be in the 700 to 900 range; typically, the higher the score, the better. Each lender decides which credit score range it considers a good or poor credit risk. It’s important to remember that your credit score is only one component of the information that lenders may use to evaluate what could be a credit risk.
Visit our Equifax Canada page to find out how to order a copy of your Equifax credit report.
