How to Raise Your Credit Score and Unlock Better Rates

Shanna Davis • December 11, 2025

Want a Better Credit Score? Here’s What Actually Works

Your credit score plays a major role in your ability to qualify for a mortgage—and it directly affects the interest rates and products you’ll be offered. If your goal is to access the best mortgage options on the market, improving your credit is one of the smartest financial moves you can make.

Here’s a breakdown of what truly matters—and what you can start doing today to build and maintain a strong credit profile.

1. Always Pay On Time

Late payments are the fastest way to damage your credit score—and on-time payments are the most powerful way to boost it.

When you borrow money, whether it’s a credit card, car loan, or mortgage, you agree to repay it on a schedule. If you stick to that agreement, lenders reward you with good credit. But if you fall behind, missed payments are reported to credit bureaus and your score takes a hit.

A single missed payment over 30 days late can hurt your score.
Missed payments beyond 120 days may go to collections—and collections stay on your report for up to six years.

Quick tip: Lenders typically report missed payments only if they’re more than 30 days overdue. So if you miss a Friday payment and make it up on Monday, you're probably in the clear—but don't make it a habit.

2. Avoid Taking On Unnecessary Credit

Once you have at least two active credit accounts (like a credit card and a car loan), it’s best to pause on applying for more—unless you truly need it.

Every time a lender checks your credit, a “hard inquiry” appears on your report. Too many inquiries in a short time can bring your score down slightly.

Better idea? If your current lender offers a credit limit increase, take it. Higher available credit (when used responsibly) actually improves your credit utilization ratio, which we’ll get into next.

3. Keep Credit Usage Low

How much of your available credit you actually use—also known as credit utilization—is another major factor in your score.

Here’s the sweet spot:

Aim to use 15–25% of your limit if possible.
Never exceed 60%, especially if you plan to apply for a mortgage soon.

So, if your credit card limit is $5,000, try to keep your balance under $1,250—and pay it off in full each month.

Maxing out your cards or carrying high balances (even if you make the minimum payment) can tank your score.

4. Monitor Your Credit Report

About 1 in 5 credit reports contain errors. That’s not a small number—and even a minor mistake could cost you when it’s time to get approved for a mortgage.

Check your report at least once a year (or sign up for a monitoring service). Look for:

Incorrect balances
Accounts you don’t recognize
Missed payments you know were paid

You can request reports directly from Equifax and TransUnion, Canada’s two national credit bureaus. If something looks off, dispute it right away.

5. Deal with Collections Fast

If you spot an account in collections—don’t ignore it. Even small unpaid bills (a leftover phone bill, a missed utility payment) can drag down your score for years.

Reach out to the creditor or collection agency and arrange payment as quickly as possible. Once settled, ask for written confirmation and ensure it’s updated on your credit report.

6. Use Your Credit—Don’t Just Hold It

Credit cards won’t help your score if you’re not using them. Inactive cards may not report consistently to the credit bureaus—or worse, may be closed due to inactivity.

Use your cards at least once every three months. Many people put routine expenses like groceries or gas on their cards and pay them off right away. It’s a simple way to show regular, responsible use.

In Summary: Improving your credit score isn’t complicated, but it does take consistency:

Pay everything on time
Keep balances low
Limit new credit applications
Monitor your report and handle issues quickly
Use your credit regularly

Following these principles will steadily increase your creditworthiness—and bring you closer to qualifying for the best mortgage rates available.

Ready to review your credit in more detail or start prepping for a mortgage? I’m here to help—reach out anytime!

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SHANNA DAVIS

Mortgage Broker

CONTACT ME

Get Unbiased Advice: Work with an Independent Mortgage Pro

By Shanna Davis • June 18, 2026

Why Work With an Independent Mortgage Professional? If you’re in the market for a mortgage, here’s the most important thing to know: Working with an independent mortgage professional can save you money and provide better options than dealing directly with a single bank. If that’s all you read—great! But if you’d like to understand why that statement is true, keep reading. The Best Mortgage Isn’t Just About the Lowest Rate It’s easy to fall for slick marketing that promotes ultra-low mortgage rates. But the lowest rate doesn’t always mean the lowest cost . The best mortgage is the one that costs you the least amount of money over time —not just the one with the flashiest headline rate. Things like: Prepayment penalties Portability Flexibility to refinance Amortization structure Fixed vs. variable terms …can all affect the true cost of your mortgage. An independent mortgage professional looks beyond the rate. They’ll help you find a product that fits your unique financial situation , long-term goals, and lifestyle—so you’re not hit with expensive surprises down the road. Save Time (and Your Sanity) Applying for a mortgage can be complicated. Every lender has different rules, documents, and policies—and trying to navigate them all on your own can be time-consuming and frustrating. When you work with an independent mortgage professional: You fill out one application They shop that application across multiple lenders You get expert advice tailored to your needs This means less paperwork , less stress , and more confidence in your options. Get Unbiased Advice That Puts You First Bank specialists work for the bank. Their job is to sell you that bank’s mortgage products—whether or not it’s the best deal for you. Independent mortgage professionals work for you. They’re provincially licensed, and their job is to help you: Compare multiple lenders Understand the fine print Make informed, long-term financial decisions And the best part? Their services are typically free to you . Mortgage professionals are paid a standardized fee by the lender when a mortgage is placed—so you get expert guidance without any out-of-pocket cost. Access More Mortgage Options When you go to your bank, you’re limited to that bank’s mortgage products. When you go to an independent mortgage professional, you get access to: Major banks Credit unions Monoline lenders (who only offer mortgages) Alternative and private lenders (if needed) That’s far more choice , and a much better chance of finding a mortgage that truly fits your needs and goals. The Bottom Line If you want to: Save money over the life of your mortgage Save time by avoiding unnecessary back-and-forth Access more lenders and products Get honest, client-first advice …then working with an independent mortgage professional is one of the smartest decisions you can make. Let’s Make a Plan That Works for You If you're ready to talk about mortgage financing—or just want to explore your options—I'm here to help. Let's connect and put together a strategy that makes sense for your goals and your future. Reach out anytime. I’d be happy to help.

Bank of Canada Holds Rate at 2.25% — June 10, 2026

By Shanna Davis • June 10, 2026

The Bank of Canada announced today that it is maintaining its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. For Canadian homeowners, buyers, and anyone with a mortgage on the horizon — here's what you need to know.