How can I improve my credit score?

Each lender decides which credit score range it considers a good or poor credit risk. Typically, the higher the score the better. If you’re looking to improve your credit score, TransUnion recommends the following:

  • Pay your bills on time: Late payments, collections, and bankruptcies have a negative effect on your credit score.
  • Keep your account balances below 35% of your available credit. For example, if you have a credit card with a $1,000 limit, try to keep the outstanding balance below $350.
  • Check your credit report on a regular basis to make sure the information is accurate. If you’re registered for TransUnion Credit Services through Scotiabank, you can check your credit report by signing in to your account online or using the mobile banking app.

Visit our Digital Banking Guide to see a demo of how to check your credit score, and learn more about how to improve it on our Advice+ hub.

Last updated January 4, 2024