How can I improve my credit score quickly in Canada?

Step 1 — Pay credit card balances below 30% utilization

Credit utilization (the "Amounts Owed" factor) is roughly 30% of your Equifax/TransUnion Canadian credit score and reports monthly (Equifax Canada — How Credit Scores Are Calculated). Drop balances under 30% of your limit (ideally below 10%) before your statement closing date — not the due date. This single move can lift scores 30–60 points in one cycle.

Step 2 — Dispute errors on your credit report

Pull your free reports from Equifax and TransUnion. Look for:

• Late payments you actually made on time
• Accounts that aren't yours
• Wrong balances or credit limits
• Closed accounts showing as open delinquent

File disputes online — bureaus must investigate within 30 days. Successful disputes typically add 20–100 points.

Step 3 — Become an authorized user

Being added to a family member's old, well-managed credit card adds their account history to your file. Look for cards 5+ years old with low utilization.

Step 4 — Set up automatic payments

Payment history is 35% of your score. Even one 30-day late can drop you 60–110 points. Auto-pay the minimum on every card to lock in on-time history.

Step 5 — Don't close old accounts

Closing a card shortens your average account age and reduces total credit limit (raising utilization). Keep old cards open and use them once a year for a small purchase.

Step 6 — Limit new applications

Each hard inquiry costs 5–10 points. Space applications by 3–6 months. Pre-qualification soft pulls (like LoanIQ's AI Advisor) don't affect your score.

Realistic 90-day improvement timeline