When people need to get a Montreal loans quickly, they often turn to payday loans because of the fast delivery of needed cash and the fact that these loans typically don’t require a credit check. But what about when you need to make a major purchase such as a car or home? If you have a low credit score, you may not be able to qualify for purchasing the type of car or home you want. You might also get locked into a higher interest rate, resulting in more expensive monthly payments.

Fortunately, even if you have bad credit, you can take simple steps to improve your credit score.

#1. Pay Bills On Time

From electricity and rent to current loan payments, it is essential that you pay all your bills on time. Every time you make a late payment, your credit score takes a hit. On the other hand, consistently paying your bills on time each month will gradually raise your credit score.

One easy way to ensure you don’t forget to pay your bills is to sign up for automatic payments. This way, the payment is automatically withdrawn from your account on the due date. Just be sure that your account has enough in it at all times to handle the payments.

#2. Start Reducing Credit Card Debt

Revolving credit card debt is a serious issue for many individuals, especially with the high interest rates that can be incurred on many of these debts. Start setting aside extra money each month to pay off your credit card balance. Pay more than the monthly minimum so that you can reduce debt and your total credit balance.

It may also be helpful to temporarily stop using your credit card for spending. Many people find it easier to keep track of their finances when they use a cash accounting system rather than their credit card.

#3. Don’t Make New Loan Applications

While payday loans don’t affect your credit score, other loan applications will. Whether you’re applying for new credit cards or an auto loan, multiple applications in a short period of time are often viewed as a sign of financial instability. Don’t apply for loans that you don’t actually need. Limit spending (and the need for loans), and you’ll protect your credit score.


Building up your credit score may take time, but it is well worth it in the long run. As you implement these practices to better control your money habits and improve your credit, you will enjoy a more stable financial situation. That’s perhaps the best investment you can make for your peace of mind.