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Any reproduction, redistribution, electronic communication, including indirectly via a hyperlink, in whole or in part, of these articles and information and any other use thereof that is not explicitly authorized is prohibited without the prior written consent of the copyright owner. The copyrights on the articles and information belong to the National Bank of Canada or other persons. The articles and information on this website are protected by the copyright laws in effect in Canada or other countries, as applicable. You’re simply using moneyĪny reproduction, in whole or in part, is strictly prohibited without the prior written consent of National Bank of Canada. With aĭebit card, there’s no notion of credit. A debit card is not considered a credit card. Using my debit card responsibly improves my credit scoreįalse.Into trouble, your personal credit report may end up reflecting Guarantee for money lent to your business. In practice, even if your accountsĪre kept separate, lenders will often ask you for a personal As an entrepreneur, my business debt doesn’t affect my personalįalse.Habits, but paying off your credit card quickly or often is good for Your credit score takes into account theīalance on your credit cards and other borrowing, so reducing that Changing my spending habits won’t change my creditįalse.Inaccuracies in your file to credit agencies. You can’t dispute a credit report sent by creditors to creditįalse.Situation and spot fraud, it’s a good idea to check your credit On the contrary, to take control of your financial My credit score will be penalized if I check my credit reportįalse.Multiple credit applications in a short time is not advisable, as it The number of new credit applications (10%).Long time is a sign of good credit management.Īccounts, such as a mortgage, a credit card and a line of credit,Ĭan have a positive impact on your score. An account that has been paid on time for a Has been open for a long time gives lenders more information about Use less than 30% of your available credit to maintain a good creditĪccount can have a positive impact on your score. Late payments and defaults penalize your score. Here they are in order of importance (%):īefore your due dates, the better your score will be. Each one shows yourĪbility to manage credit. Different factors can affect your credit score.

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