What is Affecting Your Credit Score?

There are five different categories that go into a credit score. 1. On-time record of payment. 
2. Number of inquiries or applications for credit.
3. Your utilization of credit is also a major factor — that’s your balance divided by available credit. It’s not based on whether you have a balance at the end of the month but it’s the balance outstanding at a given moment divided by your available credit.
4. Longer term credit history.
5. The broadness of your credit - somebody who has just one credit card doesn’t look as strong as someone who also has a line of credit and say a mortgage.

Click here to read more about what is affecting your credit score. (Garry Marr, Financial Post)