{"id":6164,"date":"2020-12-07T14:38:54","date_gmt":"2020-12-07T18:38:54","guid":{"rendered":"https:\/\/financierevictoria.ctx-dev.fr\/?p=6164"},"modified":"2025-10-15T10:19:27","modified_gmt":"2025-10-15T14:19:27","slug":"how-to-boost-your-credit-score","status":"publish","type":"post","link":"https:\/\/financierevictoria.ctx-dev.fr\/en\/how-to-boost-your-credit-score\/","title":{"rendered":"How to boost your credit score: dos and don\u2019ts"},"content":{"rendered":"<h1>How to improve your credit score ?<\/h1>\n<p>We all know that having a good credit score is important when applying for a mortgage from a traditional banking institution. In fact, it is the most important factor considered by banks and without a good credit score (700 and above), your application will probably be refused. If you have a low credit score, you will have to take out a mortgage loan with a bank that accepts sub-standard applications (e.g. Equitable Bank) or go with a private lender like Victoria Financial.<\/p>\n<p>Here are the dos and don\u2019ts of rapidly boosting your credit score:<\/p>\n<h2><strong>1. Pay more than the minimum balance owed on your credit card<\/strong><\/h2>\n<p>Ideally you should pay off your credit card balance every month. If this is not possible, plan to pay more than the minimum amount owed because this will help build your credit.<\/p>\n<h2><strong>2. Always pay your bills on time<\/strong><\/h2>\n<p>Paying your bills late will lower your credit rating. So always make your payments on time. Many companies, including telephone and cable providers, will report your payment history to credit bureaus. So pay all your bills on time, even the small ones.<\/p>\n<h2><strong>3. Keep your balance under the radar<\/strong><\/h2>\n<p>Do not use more than 30% of the available capacity of your credit card. If you frequently need to use more than this recommended percentage, consider applying for a credit limit increase.<\/p>\n<h2><strong>4. Opt for automatic bill payments<\/strong><\/h2>\n<p>If you regularly forget when bill payments are due, consider opting for pre-authorized debits. This will make sure you have no missed payments on your credit report.<\/p>\n<h2><strong>5. Don\u2019t have too many credit cards and loans<\/strong><\/h2>\n<p>Having more than one credit card and many types of loans will increase your debt ratio and hurt your credit score. If possible, consolidate your loans into a single loan by refinancing with a bank or taking out a second mortgage.<\/p>\n<h2><strong>6. Don\u2019t close old unused credit cards<\/strong><\/h2>\n<p>The longer your history runs, the more you increase your credit score. Old credit cards should therefore be left open, even if the balance is zero.<\/p>\n<h2><strong>7. Build a solid credit history<\/strong><\/h2>\n<p>Your payment history is a huge factor in your credit score. Your good habits will increase your score in the long run.<\/p>\n<h2><strong>How can I apply for a mortgage loan?<\/strong><\/h2>\n<p>Apply online via our website or call our underwriting department at (877) 220-7738, extension 1.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>How to improve your credit score ? We all know that having a good credit score is important when applying for a mortgage from a traditional banking institution. In fact, it is the most important factor considered by banks and without a good credit score (700 and above), your application will probably be refused. If [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":6118,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-6164","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How to boost your credit score: dos and don\u2019ts - Victoria Financial<\/title>\n<meta name=\"description\" content=\"To boost your credit score, you must be determined to make sacrifices. 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