Guide To Checking Your Credit Score In Canada (With Images)
A credit score is a number ranging anywhere from 300-900. Your credit score gives lenders a glimpse into your payment history and how well you have paid off your payments. Credit score is an important part of your financial life because good credit can save you hundreds of thousands of interest over your lifetime. If you are interested in knowing your credit score you are in luck, there are free online tools that you can use to check up on your credit. Read on to see a guide with images on how to set up a credit karma account and view your credit score.
Credit Karma is a free, reliable, and secure way to stay up to date on your credit score.
Step 1: Go to www.creditkarma.ca and it should bring you to their home screen.
Step 2: Click “Sign up for free” to start your account set up.
Step 3: Put in your email address, create a password, and click “create account” and then click “next step” at the bottom.
Step 4: Fill out the information in the “tell us about yourself section”
Step 5: Fill out the remaining security information questions to verify it is you.
Step 6: Get your report
Now that you know your credit score, you should know what your score means.
- 300-579: Poor
- 580-669: Fair
- 670-739: Good
- 740-799: Very good
- 800-900: Excellent
If you have a lower credit score and want to increase it, check out this blog.
For now here are some quick tips to start improving your score.
- Get a copy of your credit report, review it for accuracy, and dispute any errors.
- If you have any past due balances, pay them immediately. Make contact with your creditors and make the arrangements necessary to pay off any existing debt.
- Avoid using your existing credit, new credit card applications, and closing existing accounts that have balances until you have eliminated your debt.
- It’s key to note that soft inquiries do not impact your credit score. This means that requesting your credit score or report from Credit Karma counts as a soft inquiry and doesn’t affect your credit score.
We hope this blog helped you create a credit karma account. Now you can stay up to date with your credit information and work on improving your score if needed. If you’d like to chat about how to improve or establish your credit. Contact the Shopmortgages.ca team office at 519-250-4848.
