When searching for a Calgary mortgage you need to be aware of the aspects of credit that lenders are looking for. They are: 1) length of time account has been active The longer your account has been active the better your chances of getting a Calgary Mortgage. A credit card that has only been in use for 1 month is not nearly as good as one that has been open for 10 years. 2) repayment history Make sure you pay on time. Credit is used as an indicator of your repayment habits - if you miss payments on your credit cards, you are assumed to miss payments on your Calgary mortgage. 3) high credit limit A $200 credit limit is too low to really indicate your repayment habits. If you were to go on a spending spree you could likely pay down the $200 over a few months. A credit limit of $1500...
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