Most report a few days after statement is issued except for Scotiabank which reports all of their account balances which are on the last day of the month no matter of statement date or balance of statement.
Ask me about Credit Scores
- Last Updated:
- Mar 26th, 2024 1:13 pm
Tags:
- SCORE+45
- takodakoko
- Sr. Member
- Apr 29, 2017
- 549 posts
- 495 upvotes
- CanadianLurker
- Deal Fanatic
- Sep 9, 2012
- 6959 posts
- 6077 upvotes
- Oakville, ON
- redflag
- Deal Addict
- Nov 26, 2003
- 2117 posts
- 571 upvotes
takodakoko wrote: ↑ Most report a few days after statement is issued except for Scotiabank which reports all of their account balances which are on the last day of the month no matter of statement date or balance of statement.
Thank you. I am more interested in Amex, MBNA, Canadian Tire, and CIBC. Therefore, it sounds I can reduce my usage % by paying a portion right before my statement dates.CanadianLurker wrote: ↑ It can vary. Some lenders run their reporting batch on a given day or date of the month. Most, I think, will do it after the billing cycle.
I am not evil; I just live another way
- caprisahil
- Newbie
- May 30, 2017
- 5 posts
Hello Canada,
I need help in terms of suggestions to grow and improve my finances.
Currently I have a blend of credit cards (6) and line of credits (2). My utilization is at 60%. I am steadily paying and reducing the utilization as much as I can.
Please suggest which financial products can help me in credit building and I would like to get higher or additional line of credit. Please advise.
Thank you for your time and help.
Regards,
I need help in terms of suggestions to grow and improve my finances.
Currently I have a blend of credit cards (6) and line of credits (2). My utilization is at 60%. I am steadily paying and reducing the utilization as much as I can.
Please suggest which financial products can help me in credit building and I would like to get higher or additional line of credit. Please advise.
Thank you for your time and help.
Regards,
- zxzkzkz
- Newbie
- Jul 19, 2021
- 79 posts
- 32 upvotes
Do you carry a balance on these, i.e. do you pay less than the full statement amount? What are the interest rates on these balances?caprisahil wrote: ↑I need help in terms of suggestions to grow and improve my finances.
Currently I have a blend of credit cards (6) and line of credits (2). My utilization is at 60%. I am steadily paying and reducing the utilization as much as I can.
It sounds like you do which sounds like you should focus on, as you say at first, improving your finances rather than, as you say later, getting additional credit. Your goal should be to find lower interest rates and move as much debt as you can onto the lowest interest rates and pay off the highest interest rates as fast as possible (and possibly close them if you might be tempted to use them in the future).
- evilbaga
- Member
- Nov 25, 2013
- 247 posts
- 77 upvotes
- Scarborough, ON
Got a question for you all:
I got a pretty mediocre credit score: TU:690, EQ:709
(Edit: Had to do a Consumer Proposal in 2016, while it is not on the credit report anymore - the fallout still remains - hence the low score).
Good income. Not much debt.
Is it possible to get a unsecured personal loan with the above scores?
Would it be advised to go after banks/credit unions that pull Equifax (as that one, at least, is above 700?)
I got a pretty mediocre credit score: TU:690, EQ:709
(Edit: Had to do a Consumer Proposal in 2016, while it is not on the credit report anymore - the fallout still remains - hence the low score).
Good income. Not much debt.
Is it possible to get a unsecured personal loan with the above scores?
Would it be advised to go after banks/credit unions that pull Equifax (as that one, at least, is above 700?)
Last edited by evilbaga on Mar 26th, 2024 1:06 pm, edited 1 time in total.
- redflag
- Deal Addict
- Nov 26, 2003
- 2117 posts
- 571 upvotes
Don't think they matter that much. Unless your credit history/usage is not great, I expect your score to be higher 750+. But the score can change quite dramatically, mine jumped more than 50 pts after I paid off a BT recently.evilbaga wrote: ↑ Got a question for you all:
I got a pretty mediocre credit score: TU:690, EQ:709
Good income. Not much debt.
Is it possible to get a unsecured personal loan with the above scores?
Would it be advised to go after banks/credit unions that pull Equifax (as that one, at least, is above 700?)
I am not evil; I just live another way
- evilbaga
- Member
- Nov 25, 2013
- 247 posts
- 77 upvotes
- Scarborough, ON