{"id":88060,"date":"2024-07-12T13:47:22","date_gmt":"2024-07-12T17:47:22","guid":{"rendered":"https:\/\/www.rbcroyalbank.com\/en-ca\/?post_type=rbc_my_money_matter&#038;p=88060"},"modified":"2024-08-27T09:48:57","modified_gmt":"2024-08-27T13:48:57","slug":"how-to-maintain-a-strong-credit-score-during-challenging-times","status":"publish","type":"rbc_my_money_matter","link":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/debt-and-stress-relief\/struggling-to-make-ends-meet\/improving-your-credit-score\/how-to-maintain-a-strong-credit-score-during-challenging-times\/","title":{"rendered":"How to Maintain a Strong Credit Score During Challenging Times"},"content":{"rendered":"<div class=\"wp-block-rbc-single-article-header\">\n\t<section class=\"section-grey cover pad-t-hlf\">\n\t\t<div class=\"section-inner w-half w-mob-full centered-margin cover section-grey pad-tb-0\">\n\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/credit-and-debt\/\">\n\t\t\t\t\t\t\t<span>Credit and Debt<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<h1 class=\"mar-b-hlf mar-t-0 mob-pad-lr-hlf h2 has-black-color\">How to Maintain a Strong Credit Score During Challenging Times<\/h1><p class=\"mar-b-0 mob-pad-lr-hlf author-text\">By Royal Bank of Canada<\/p>\t\t\t\t\t<div class=\"featured-image-wrapper pos-rel\">\n\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/07\/shutterstock_1640431096_CreditScore_CostofLivingCrisis-1.jpg?quality=80\" class=\" cover-image  wp-post-image\" alt=\"Image of person looking at an app on their smartphone to check their credit score.\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/07\/shutterstock_1640431096_CreditScore_CostofLivingCrisis-1.jpg 4387w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/07\/shutterstock_1640431096_CreditScore_CostofLivingCrisis-1.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/07\/shutterstock_1640431096_CreditScore_CostofLivingCrisis-1.jpg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/07\/shutterstock_1640431096_CreditScore_CostofLivingCrisis-1.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/07\/shutterstock_1640431096_CreditScore_CostofLivingCrisis-1.jpg?resize=1536,1024 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/07\/shutterstock_1640431096_CreditScore_CostofLivingCrisis-1.jpg?resize=2048,1365 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t<\/section>\n\t<div class=\"article mar-t-dbl\">\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner socials-section\">\n\t\t\t\t<div class=\"top-socials-bar mob-mar-b-hlf\">    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=How to Maintain a Strong Credit Score During Challenging Times &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/debt-and-stress-relief\/struggling-to-make-ends-meet\/improving-your-credit-score\/how-to-maintain-a-strong-credit-score-during-challenging-times\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/debt-and-stress-relief\/struggling-to-make-ends-meet\/improving-your-credit-score\/how-to-maintain-a-strong-credit-score-during-challenging-times\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  <\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner w-half w-mob-full centered-margin pad-tb-0 mob-mar-t-hlf mob-mar-b\">\n\t\t\t\t<p class=\"cover-pub-line text-xs mar-b-hlf\">Published July 12, 2024 \u2022 6 Min Read<\/p>\t\t\t<\/div>\n\t\t<\/section>\n\t<\/div>\n<\/div>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner w-half w-mob-full\" style=\"border-radius:0x\">\n<div class=\"wp-block-rbc-rbc-block drop-shadow pos-rel top-line-blue block-wpr mar-b-hlf\">\n<div class=\"wp-block-rbc-rbc-block-inner-block block-inner\">\n<h2 class=\"wp-block-heading\" id=\"h-tldr\">TLDR<\/h2>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>As the cost of living remains high across the country, Canadians are increasingly turning to their credit cards to cover expenses<\/p>\n<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>But credit cards should be used wisely, and it&#8217;s important to maintain a healthy credit score \u2014 especially during challenging times<\/p>\n<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Here&#8217;s a step-by-step guide to use your credit card wisely and help ensure a financial rough patch is only temporary&nbsp; &nbsp;<\/p>\n<\/li>\n<\/ul>\n<\/div>\n<\/div>\n\n\n\n<p>As Canadians face a higher cost of living, more and more rely on credit to get by. In fact, TransUnion, one of the major credit reporting agencies in Canada, recently reported that the average credit card balance for Canadian consumers <a href=\"https:\/\/www.transunion.ca\/content\/dam\/transunion\/ca\/business\/collateral\/infographic\/q1_24_ciir_infographic.pdf\" target=\"_blank\" data-dig-id=\"LP-88060-78e8c68c\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"increased 9.4 per cent over last year\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">increased 9.4 per cent over last year<\/a><em>. <\/em>The report indicates that consumers\u2019 incomes are earmarked to cover higher mortgage payments and pay for everyday goods that cost more than they used to.<\/p>\n\n\n\n<p>Are you facing challenging financial times? If you\u2019re like many Canadians, you\u2019re juggling credit card balances, loans, mortgages and other financial obligations. Here are steps to help keep up with your payments and preserve your credit score.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What is a credit score?<\/h2>\n\n\n\n<p>A credit score \u2014 also known as a credit rating \u2014 is a number that reflects how well you have borrowed and repaid money. The number is assigned by a credit bureau, which uses your credit history \u2014 facts gathered from financial institutions, retailers and lenders about how well you have handled credit in the past \u2014 to determine your score. Most of this information stays in your credit file for seven years, but your score may go up or down based on how you manage credit on an ongoing basis.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What is considered a good credit score in Canada?<\/h2>\n\n\n\n<p>Credit scores typically range from 300 \u2013 900. While credit models vary, scores between 660 and 724 are generally considered \u201cgood.\u201d Scores 725 \u2013 759 are considered very good, while scores over 760 are considered excellent.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Why is it important to have a good credit score?<\/h2>\n\n\n\n<p>A good credit score positively affects many areas of your financial life. For instance, lenders will use your credit score to assess your risk when deciding whether to lend you money \u2014 and, if so, how much and at what interest rate. In other words, a strong score can mean you\u2019re eligible to borrow more money at lower rates. This, in turn, can translate to an easier path to getting a mortgage, buying a car, qualifying for certain credit cards and more.<\/p>\n\n\n\n<p>What\u2019s more, telecommunications companies, insurers, building owners and government agencies also use your credit score to assess risk. If you have a bad score, you may not get access to some of these services.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How to maintain your credit score while under financial pressure<\/h2>\n\n\n\n<p>While it\u2019s one thing to understand what a good credit score is and why it\u2019s essential, it\u2019s another to maintain one during challenging financial times. After all, credit may be seen as a safety net, <a href=\"https:\/\/newsroom.transunion.ca\/canadian-consumer-credit-market-continued-to-expand--with-evident-signs-of-payment-stress\/\" target=\"_blank\" data-dig-id=\"LP-88060-4d368114\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"as 31.8 million Canadians\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">as 31.8 million Canadians<\/a> have one or more credit cards, and the number of Canadians carrying a balance continues to increase. While using credit might be unavoidable for some, knowing how to use it \u2014 and what actions affect your credit score \u2014 can help you maintain a good score.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What lowers a credit score?<\/h2>\n\n\n\n<p>When credit bureaus gather data to establish your credit score, there are several things they look at. Here are some of the factors that will negatively affect your score.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Paying bills late<\/h3>\n\n\n\n<p>While paying one bill a couple of days late might not cause your credit score to change, regularly missing due dates on your bills may have a meaningful impact. Letting bills fall to collection agencies may even have a more significant effect on your credit score.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Nudging close to your credit limit<\/h3>\n\n\n\n<p>Your credit utilization, the percentage of the borrowing limit you\u2019re using on your credit cards or other revolving credit accounts, also plays a vital role in determining your credit score. If you\u2019re using more than 30 per cent of your limit on your credit accounts, your score may dip. Credit bureaus look at individual credit accounts and the total of all your accounts when calculating your credit utilization.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Opening new credit accounts<\/h3>\n\n\n\n<p>Taking on new debt may increase your chances of falling behind on old debts. A \u201chard inquiry,\u201d when a lender processes a credit application for you, is recorded in your credit history. This may negatively affect your credit score.<br><br>If you open a new account and everything else in your credit report is positive, the effect may only last for a while, and your score may rebound within a few months.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">How to keep \u2014 or rebuild \u2014 a good credit score<\/h3>\n\n\n\n<p>As you might expect, paying your bills on time and keeping your credit utilization below 30 per cent will help maintain or rebuild a good credit score. But what if this is hard to do? If you\u2019re feeling a credit crunch, here\u2019s how you can help keep a good score.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Don\u2019t try to solve the problem with more credit<\/h3>\n\n\n\n<p>Opening new credit accounts will be reflected on your credit history and can negatively affect your score.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Talk to your lenders<\/h3>\n\n\n\n<p>If you can\u2019t make a payment, instead of missing it altogether, reach out to your lenders to try to arrange a payment plan that can help preserve your credit score.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Avoid switching to cash-only<\/h3>\n\n\n\n<p>Some people believe avoiding credit can help improve their credit score and will switch to using their debit card or cash to pay for items. While this behaviour may keep credit balances down, credit bureaus look favourably at your ability to use and repay credit, so using a credit card and paying down the balance can help keep your score up.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Make at least your minimum payments<\/h3>\n\n\n\n<p>If you can\u2019t pay off your credit bills, make at least the minimum payment outlined in your statement. While you may not be making a dent in your debt, you\u2019re meeting your obligations, which works in your favour.<\/p>\n\n\n\n<p>Read a complete <a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/credit-and-borrowing\/understanding-credit-and-credit-scores\/5-tips-to-help-keep-your-credit-score-in-good-standing\/\" data-dig-id=\"LP-88060-343a8beb\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"list of tips\" class=\"rbc-link-format\">list of tips<\/a> to keep your credit score in good standing. If your credit score has taken a hit, here are steps to <a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/credit-and-borrowing\/understanding-credit-and-credit-scores\/6-ways-to-rebuild-your-credit-score\/\" data-dig-id=\"LP-88060-fbdb5b1d\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"rebuild your credit score\" class=\"rbc-link-format\">rebuild your credit score<\/a> and financial confidence.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Know where you stand<\/h3>\n\n\n\n<p>Like with most things, the more you know, the better you may deal with a situation. By checking your credit score, you can see where you stand and take the necessary steps to improve or maintain your score. It\u2019s easy to <a href=\"https:\/\/www.rbcroyalbank.com\/dms\/olb\/credit-score\/index.html\" data-dig-id=\"LP-88060-cd81c5bd\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"check your credit score online\" class=\"rbc-link-format\">check your credit score online<\/a>, and it\u2019s worth taking a look once a year to ensure your score is aligned with your expectations.&nbsp;<\/p>\n\n\n\n<p>Remember, by maintaining a solid score today, you\u2019ll be in a better financial position tomorrow. As economic pressures ease, you\u2019ll be better prepared to reach money and life goals that truly matter to you.&nbsp;<\/p>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse834a1009\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse834a1009\" data-dig-id=\"LP-57738-834a1009\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Things our lawyers want you to know\"><span>Things our lawyers want you to know<\/span><span>Things our lawyers want you to know<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse834a1009\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-bffdf1d3-512f-48ff-8b05-447b11a8c206\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<p class=\"has-text-align-center h5 mar-b\"><strong>Share This Article<\/strong><\/p>\n\n\n\n\t\t<div class=\"socials-block\">\n\t\t\t    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=How to Maintain a Strong Credit Score During Challenging Times &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/debt-and-stress-relief\/struggling-to-make-ends-meet\/improving-your-credit-score\/how-to-maintain-a-strong-credit-score-during-challenging-times\/\">\n        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<\/div>\n  \t\t<\/div>\n\n\t\t\n\n\t\n\t<div class=\"wp-block-tk-spacer id-e7bf02df-5cd7-4587-97ba-64d97d89fc7c\" aria-hidden=\"true\"><\/div>\n\t\n\n\n\t\t\t<div class=\"wp-block-rbc-single-post-topics related-topics-links\">\n\t\t\t\t<p class=\"h5 mar-r-hlf\">Topics:<\/p>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/banking-digital-banking\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Banking\/ Digital banking<\/a>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/credit-and-debt\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Credit and Debt<\/a>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/managing-money\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Managing Money<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel mob-pad-t-dbl\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<h2 class=\"wp-block-heading mar-b mob-mar-b-dbl mar-t-0\" id=\"h-read-this-next\">Read This Next<\/h2>\n\n\n\t\t\t<div class=\"related-posts-type-2\">\n\t\t\t\t<div class=\"related-post-list\">\n\t\t\t\t\t<ul class=\"grid-wpr eh-wpr\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"878\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Thumbnail-feature-535-1.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Image showing a young woman paying bills with a credit card\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Thumbnail-feature-535-1.jpg 1190w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Thumbnail-feature-535-1.jpg?resize=300,257 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Thumbnail-feature-535-1.jpg?resize=768,658 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Thumbnail-feature-535-1.jpg?resize=1024,878 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/credit-and-borrowing\/understanding-credit-and-credit-scores\/\">\n\t\t\t\t\t\tUnderstanding Credit and Credit Scores\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/credit-and-borrowing\/understanding-credit-and-credit-scores\/5-myths-about-your-credit-score\/\" class=\"card-title h4 mar-t-0\">5 Myths about Your Credit Score<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/06\/shutterstock_1016243905_gradfinances.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"A group of five young adults sitting at a caf\u00e9 table, smiling and taking a selfie together. They are casually dressed and appear to be enjoying coffee and each other\u2019s company. The setting is bright with natural light coming through large windows.\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/06\/shutterstock_1016243905_gradfinances.jpg 5472w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/06\/shutterstock_1016243905_gradfinances.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/06\/shutterstock_1016243905_gradfinances.jpg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/06\/shutterstock_1016243905_gradfinances.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/06\/shutterstock_1016243905_gradfinances.jpg?resize=1536,1024 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/06\/shutterstock_1016243905_gradfinances.jpg?resize=2048,1365 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/debt-and-stress-relief\/struggling-to-make-ends-meet\/improving-your-credit-score\/\">\n\t\t\t\t\t\tImproving Your Credit Score\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/debt-and-stress-relief\/struggling-to-make-ends-meet\/improving-your-credit-score\/beyond-the-books-your-post-grads-playbook-to-help-you-conquer-student-debt\/\" class=\"card-title h4 mar-t-0\">Beyond the books: Your Post-Grad\u2019s Playbook To Help You Conquer Student Debt<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"576\" height=\"384\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/04\/Picture1_379b67.jpg?quality=80&amp;w=576\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Magnifying glass sitting on a credit report\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/04\/Picture1_379b67.jpg 576w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/04\/Picture1_379b67.jpg?resize=300,200 300w\" sizes=\"auto, (max-width: 576px) 100vw, 576px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/credit-and-borrowing\/understanding-credit-and-credit-scores\/\">\n\t\t\t\t\t\tUnderstanding Credit and Credit Scores\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/credit-and-borrowing\/understanding-credit-and-credit-scores\/good-credit-score\/\" class=\"card-title h4 mar-t-0\">What\u2019s a good credit score and how do you get one?<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n<\/section>\n<style class=\"advgb-styles-renderer\">\n\t\t.wp-block-tk-spacer.id-bffdf1d3-512f-48ff-8b05-447b11a8c206 {\n\t\theight: 96px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-bffdf1d3-512f-48ff-8b05-447b11a8c206 {\n\t\t\theight: 30px;\n\t\t}\n\t}\t\n\t\t.wp-block-tk-spacer.id-e7bf02df-5cd7-4587-97ba-64d97d89fc7c {\n\t\theight: 60px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-e7bf02df-5cd7-4587-97ba-64d97d89fc7c {\n\t\t\theight: 30px;\n\t\t}\n\t}\t<\/style>","protected":false},"excerpt":{"rendered":"<p>While credit can act as a financial safety net during tight times, it\u2019s important to maintain a strong credit score in the meantime. Here\u2019s why \u2013 and how.<\/p>\n","protected":false},"author":80,"featured_media":88066,"parent":57276,"menu_order":0,"template":"","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"tags":[62,510,520],"rbc_content_type":[31],"rbc_audience":[],"rbc_lob_group":[35],"rbc_difficulty_level":[33],"rbc_mmm_category":[319,302,329,304,306,371],"class_list":["post-88060","rbc_my_money_matter","type-rbc_my_money_matter","status-publish","has-post-thumbnail","hentry","tag-banking-digital-banking","tag-credit-and-debt","tag-managing-money","rbc_content_type-article","rbc_lob_group-business","rbc_difficulty_level-beginner","rbc_mmm_category-credit-and-borrowing","rbc_mmm_category-debt-stress-relief","rbc_mmm_category-improving-your-credit-score","rbc_mmm_category-money-academy","rbc_mmm_category-struggling-to-make-ends-meet","rbc_mmm_category-understanding-credit-and-credit-scores"],"acf":{"contently_publication_id":"","custom_author":"Royal Bank of Canada","rbc_video_header":"","rbc_media_duration":"","rbc_toc_for_mmm_tag":"h2","rbc_toc_for_mmm_limit":6,"rbc_toc_for_mmm":null,"rbc_toc_for_mmm_action":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<meta name=\"description\" content=\"While credit can act as a financial safety net during tight times, it\u2019s important to maintain a strong credit score in the meantime. 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