Hi guys,

I have moved to Canada recently. I would like to have some tips regarding credit scoring and how to improve the credit score in Canada. And what to avoid while using your credit card.

I have received a credit card from the bank I am dealing with. Since this was my first card in Canada they gave me a very low limit card (1,000 CAD). Ofcourse this does not cover my needs and expenses and I am capable of paying more than that a month.

What I am doing at the moment is to put more money on the card to be able to use it.

For an example, during my first month, although my limit is 1,000 CAD I have used 5,500 CAD and my balance came out -72 CAD (meaning I over paid the card). I was putting money every week on the card to make sure it is usable. Basically there were alot of periods in that month were I was basically using the money I have put on the card. Other times I was using the credit given.

My questions:
1- Will my behavior have a good or bad effect on my card if I continue doing so?

2- Is it good or bad to over pay the credit card?

3- What is the best and fastest way to improve my credit score to raise the limit of my card?

Other notes or suggestions are very welcomed.

** I have searched for a similar topic but couldn't find something related to Canada.