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how build up credit score

Bank account, credit cards, mobile phone contract, living at one address for a long time etc. All the sensible stuff. NEVER miss a payment.
 
i miss my payment so many times in medical insurance and mobile payment because i am so busy with my life and forgot the required payment date, but i still pay it
 
Missing so many payments is not good because it lowers your credit score and makes is less likely to qualify for loans or credit cards. If you are so busy that you forget, perhaps you can try these:

1. sign on for online banking - then add your payees using your account number with them. Then you can just transfer the money online.
2. pick a day(e.g. 10th of each month) and set a reminder(on your phone) to pay all the bills on that day.
3. if the first two don't work and if you are comfortable, you can sign-up for pre-authorized payments with them. Make sure you agree about the specific date they can withdraw the money. This way they withdraw it from your account on the specified date and you are never late. Note that, you have to ensure there is always enough money to cover all your bills.

About medical insurance - have you checked whether you are eligible for provincial health coverage yet? Check, if you are, then apply for it and you will not need to be paying for medical insurance.

tracytran said:
i miss my payment so many times in medical insurance and mobile payment because i am so busy with my life and forgot the required payment date, but i still pay it
Click to expand...
 
Well said...
SenoritaBella said:
Missing so many payments is not good because it lowers your credit score and makes is less likely to qualify for loans or credit cards. If you are so busy that you forget, perhaps you can try these:

1. sign on for online banking - then add your payees using your account number with them. Then you can just transfer the money online.
2. pick a day(e.g. 10th of each month) and set a reminder(on your phone) to pay all the bills on that day.
3. if the first two don't work and if you are comfortable, you can sign-up for pre-authorized payments with them. Make sure you agree about the specific date they can withdraw the money. This way they withdraw it from your account on the specified date and you are never late. Note that, you have to ensure there is always enough money to cover all your bills.

About medical insurance - have you checked whether you are eligible for provincial health coverage yet? Check, if you are, then apply for it and you will not need to be paying for medical insurance.
Click to expand...
 
Get a secured credit card (for instance with TD bank) they will issue a "no credit" credit card, against a 1000 or so deposit savings account. This method worked super fast for me in the USA as i lived there as a student, and i heard it works equally fast in Canada (building credit)
 
browntrout said:
Get a secured credit card (for instance with TD bank) they will issue a "no credit" credit card, against a 1000 or so deposit savings account. This method worked super fast for me in the USA as i lived there as a student, and i heard it works equally fast in Canada (building credit)
Click to expand...

Hi

This is my advice as well. Starting with this, and a few extra tricks (like paying bills on time), got me unsecured credit in less than two years. Anything over 700 as a score is usually considered reasonably good. Over 800 is possible in 3-4 years (from 0)

Good luck
 
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