A credit score is like family… almost everyone you know has one, and almost everyone you know wants a better one (kidding, Mom!). Unlike your parents/siblings you can work on your credit score and it’ll keep improving – without all those awkward family dinners.

Ok – My Credit Isn’t Great. What Can I Do?

Less than perfect credit is just a fact of life – and it can happen to anyone. There are ways to improve it, and ways to get cash in the meantime without hurting your score.

Start by paying down your bills when you can. The less you owe (and the more you have access to) really makes your score look better.

In the meantime, products like Mogo’s Pocket Money and Zip Money can tide you over to the next paycheque – without the never ending debt of credit cards or high cost of bounced cheque fees (both of which are murder on your credit score).

Also – check out other posts on the Mogo Stop The Pain of Overspending blog to see tips to fine-tune your spending.

How Long Will Good Credit Take?

Unfortunately, your credit score won’t be top shelf over night, but that doesn’t mean you can’t get there. We’ve got a ton of easy steps to improving the way you think about cash, the way you can get deals, and the way you spend your money.

Good credit isn’t instant; but better credit starts right now.

How Do They Calculate a Credit Score?

Your score will be based on the following subjects (least to most important):

Types of Credit

Money Owed

New Credit

Credit History (longer is better)

Payment History

Instead of worrying about EVERYTHING, just look at those five things. Suddenly, credit isn’t so scary anymore.

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