Affirm Financial customers are financially responsible people who want to improve their credit. We help make it possible by reporting your credit card payments to the credit bureaus every month. Not all lenders do this. Affirm enables you to build a track record of performance so that you credit score will improve.

But there are other steps you can take, and tips you should know about, to improve your score more effectively.

  • Make your monthly payments on time     Make your monthly payments on time and, if possible, pay more than the minimum. Work with creditors to get those debts off your credit history.
  • Close unused accounts     Close unused accounts. The credit on those accounts can actually work against your credit-worthiness. Try to keep your balance per card to less than 40% of the credit card limit. The lower the balance on the card, the more likely lenders are to view you as low risk.
  • Time your credit applications     While you may want to apply to a number of financial service providers all at once to see who approves you, lenders may view this as a sign of financial distress, or possible fraudulent activity. This could have an adverse impact on your ability to get credit. Space out your application requests.
  • Watch for identity theft     Even if you do everything right, your credit rating could be damaged by identity thieves. Keep close tabs on what’s happening on your credit cards. Always check your monthly statements for transactions that don’t make sense, and report errors promptly to the credit card company.Request a credit report on an annual basis. It’s free if you submit your request by mail. Look for accounts you did not open. You can also pay for credit agency services that will automatically inform you every time your credit history has been requested (often a good sign that someone is trying to use your identity for their gain).Bottom line: don’t take it for granted that your credit-worthiness is protected. It needs your vigilance.
  • Know how to check your credit score     We recommend you get a credit report every six months. Alternate between Equifax Canada and TransUnion Canada. These two agencies collect information from a variety of sources and process it in their own proprietary way, so you may find your credit history and score varies from agency toagency. You may also find that something is incorrect with one agency’s report. Checking with both of them allows you to keep up to date on your credit status and take corrective action if necessary.To get a free credit report mailed to you, simply fill out the request form (see links below), photocopy two pieces of government-issued ID, and mail it in. If you want your report right away, you can go online and pay a fee to get it.

How to contact Equifax

Mail

Equifax Canada
Consumer Relations Department
PO Box 190, Station Jean-Talon
Montreal, QC H1S 2Z2

Phone

Toll-free: 1-800-465-7166
FAX: 1-514-355-8502

In person

Equifax Canada
5650 Yonge Street, Concourse Level
Toronto, ON M2M 4G3

Online

http://www.consumer.equifax.ca/ecm/canada/EFXCreditReportRequestForm.pdf

How to contact TransUnion

Mail

TransUnion Canada
Consumer Relations Centre
PO Box 338, LCD 1
Hamilton, ON L8L 7W2

Phone

Toll-free: 1-800-663-9880
FAX: 1-289-288-0030

Online

http://www.transunion.ca/docs/personal/Consumer_Disclosure_Request_Form_en.pdf