Your credit is an important part of improving your quality of living. When you have good credit, you can make large purchases like investing in a home or buying a new, reliable car. If you have bad credit, you may be wondering how long it stays with you. Your credit report has financial information about your credit history and determines the score you have. Lenders report bill payments to the credit bureaus in Canada and then it’s updated to your credit report. Whenever your credit report is updated, your credit score may change as well.