Thursday, 15 December 2016

Good Credit: How to get it, not sweat it

Everyone knows that having a good credit score can increase your chances of getting car loans, better mortgage rates and so on, but a good score can also lead to better insurance rates! More and more insurance companies (about 55%) are using your credit score to determine your discount eligibility.

Did you know?
There is a statistical correlation between poor credit and more insurance claims.

So how do you get good credit?

A credit score is simply a measure of financial health. Here are some steps to take:

     Step 1: 
Check your credit score. The range in Canada is between 300-900 and the higher your number, the better your score is.  You can access your credit file for free by mailing in the form here. Or, you can access it online faster for a fee.

Step 2:
Understand your credit rating. Once you have received your credit report, use the following chart to help you determine your rating. The numbers are not a scale, but a current status: 

Step 3:
Correct any mistakes on your credit report. This might be mistakes in personal info, late payments, or signs of theft. Do you see something reported that is inaccurate? Gather proof (statements, receipts, etc.) and contact Equifax Canada or TransUnion Canada. They will check with the lender that reported the error. If that didn’t work, contact the lender yourself to speed things up. 

Still no results? Escalate your case by speaking to someone at a higher level within your lender or credit agency. Your credit isn’t affected when you ask for information about your own score. 

Step 4:
Make your credit card, phone bills, loan and lease payments on time. 35% of your credit score is based on payment history. If possible, set up automatic payments for the minimum so you don’t even have to think about it! 

More tips:

  • Don’t get enticed by those store credit cards offering a discount for signing up. They’re viewed negatively by credit bureaus.
  • You may have a low score simply because you don’t have a credit history. You can build history when you get a cell phone, bank account, car loan, or credit card. Don’t get it all in the same month, however, because your credit takes a small hit every time a lender checks it.
  • Do you have a low-interest card you don’t use? Keep the account open. It may help to improve a low score. 
  • Pay down your debts as quickly as possible. Pay down the debt with the highest interest rate first to save money. 

Don’t sweat it. See below for some safe, reliable resources if you want financial advice or simply want to take more control.

Debt and credit advice:

Budget templates, calculators, info on mortgages, credit, loans and more:  

Marchella Mafrica
Communications Specialist
Sharp Insurance 


  1. Thank you for this post. There are lots of insurance companies are using your credit score to determine your discount eligibility. o this post includes how to get good credit card. If you want essay related topic you can go for custom essay writing service will get better result.

  2. Hey
    Thank you so much for this post. As i have been saving up to buy a new car, i was not aware of the credit score. After reading it i checked it. It was not enough to buy the car . Following the steps mentioned might help.
    click here to get help with your college research papers

  3. I think this is an informative post and it is very useful and knowledgeable. therefore, I would like to thank you for the efforts you have made in writing this article. Custom Essay Writing Service

  4. This is an awesome post. Really informative and creative content. These concept is a good way to enhance the knowledge.
    How to Write A+ Essays

  5. The information you have provided is very helpful at all thank you very much for sharing useful information with us. Write My Essays

  6. This comment has been removed by the author.

  7. These are the great tips for the credit score. Thank you for describing all the points. This is the well-researched theory where we will get information around the world. We can get information about our financial status. If someone wants to get knowledge related to investment then it will be good advice for them. is the good resource where I found some good information related to writing and essays. If you are also looking help for your writing you can refer it.

  8. I hope I won't need to use such services ever. I recommend you to go here if you want to improve your writing skills.

  9. This comment has been removed by the author.

  10. hello sir,
    thanks for giving that type of information. Really enjoyed this blog post. Really looking forward to reading more. Much obliged.
    digital marketing company in delhi

  11. Enjoyed your approach to explaining how it works, hope to see more blog posts from you. Thank you!College admission essay writing service

  12. I feel happy about and learning more about this topic. keep sharing your information regularly for my future reference. This content creates a new hope and inspiration with in me. Thanks for sharing article like this. the information which you have provided is better then other blog.
    Best IELTS Coaching in Dwarka

  13. Thank you for share your experience with us.
    kinemaster app

  14. I liked your article a lot and I would like to share some society topics with you. Here is a link where you can find some of them

  15. I liked your article a lot and I would like to share some society topics with you. Here is a link where you can find some of them

  16. I found a lot of valuable information in your article, it’s really helpful for me, am suggest to my all dear friend to visit this blog and collect this valuable information, I really happy to say this keep sharing this type of blog, I really like to read this, I hope I will see you again with this type of valuable information, thank you so much for read my comment I will suggest to you all comment reader please deeply read this blog and collect this useful information, if any one searching the website designing company in India please come on my website ogeninfo, we are working in 5 year on this field, we are complete your all type project like website designing & web development and PPC.
    Web Designing Company in Delhi

  17. Your blog give me a lot of valuable information, I really like to read your article, I will suggest to my all dear friend to visit this blog and collect this useful information, keep sharing like this type useful blog, I am really happy to say this am really enjoy to read this article, thank you so much for share this helpful information with us, if any one need a shipping company in India to shift you product, we are shift you product with care and faster if you need it so please come on my website Yhcargoindia, thanks to read my comment.
    Sea Freight Company in India

  18. Thanks for your article! By the way, found this post yesterday, I think you’ll also appreciate it; there are many super essay topics there.

  19. Realationship of Americans with their credit cards is the talk of the town, didn't know that Canadians have the same issue. It can be an interesting topic for the essay! Check useful tips at to improve your writing and get an entry to a great uni!

  20. It is never too early to begin your financial education and that of your children. But with your education writing could help you.

  21. Thank you for this information. I am a student of economic university and I realise that finsntial education is important. If you are going to write stories or posts about credits you may use
    editing scientific papers service.

  22. I really read your information you will mention on blog it’s provided us with helpful information for me, thank you so much.
    Top 5 Website Development Company | Digital Marketing Company in Delhi

  23. Thanks for the offered solution to this issue, it was very helpful. In return, I would like to share this useful site essays empire. There anyone can get useful information on how to write an exclusive paper for the university or college.

  24. We are leading mobile app development company in Mumbai, Navi Mumbai, India. We provide a wide range of Android & iOS app development services at a cost-effective price.
    Mobile app development company in mumbai

  25. Nice article. Thanks for sharing. I am a writer at Assignment Help. I am having an experience of 7 years. I work as an Assignment Helper over there.