Your credit score affects many areas of your life from your spending abilities to your stress levels. Missing a couple of payments on a credit card can dramatically drop your score, even after years of consistently meeting payment deadlines. Your credit report tracks your spending history for the past six years and bad credit (FICO score) makes it nearly impossible to get financing for a home, car, credit card or even cell phone.
So if, for whatever reason, your score has plummeted — there’s a few things you can do to repair it.
1. Know your score
Finding out your credit score and history is the first step to knowing what went wrong and how to fix it.
You can get a copy from two main credit bureaus in Canada: Equifax (the most highly…