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How to build credit history as a newcomer to Canada

Rounding it up

  • A credit score is a number between 300 and 900 based on your credit history, or your history of repayment.

  • Building credit as a newcomer can be difficult since your credit history does not travel with you. That means you’ll have to build credit from scratch upon your arrival.

  • You can do so by buying a cell phone, applying for a credit card, keeping up with your expenses, and using credit building tools.

  • Also make sure to pay your bills on time and avoid predatory payday loans — establishing a financial history is within reach.

5 min read

Chrissy Kapralos
#credit#credit building#credit score#newcomer

Chrissy Kapralos

Chrissy is a freelance writer and editor who is passionate about making financial education accessible. She is also a communications advisor for the Ontario Ministry of Energy, Northern Development and Mines. When she isn't writing, you can find her practicing yoga or watching horror movies.

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The KOHO Visa* Prepaid card is issued by Peoples Trust Company pursuant to license by Visa Int. *Trademark of Visa Int., used under license. **These services are provided by Service Providers, including Visa, Peoples Trust Company and Galileo Processing. Learn more about your finances with Visa Practical Money Skills.