Back to learn
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.
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.
Related articles
Can newcomer Canadians qualify for retirement plans?
8 mins
Ally StreelmanNew to Canada and eager to get your financial ducks in a row? Learn how you can start retirement planning today.
Can newcomer Canadians qualify for retirement plans?
8 mins
Ally Streelman
New to Canada and eager to get your financial ducks in a row? Learn how you can start retirement planning today.
#retirement
#newcomer
#RRSP
#TFSA
What do you need to open a bank account?
7 mins
Yekaterina GalanovaOpening a bank account in Canada isn’t a daunting feat or an insurmountable challenge. It is quite easy! Learn how right here.
What do you need to open a bank account?
7 mins
Yekaterina Galanova
Opening a bank account in Canada isn’t a daunting feat or an insurmountable challenge. It is quite easy! Learn how right here.
#bank
#bank account
#banking
#newcomer
Can international students get a credit card in Canada?
7 mins
Ally StreelmanKick off your life as a collegiate in Canada by learning if and how you can land a credit card as an international student.
Can international students get a credit card in Canada?
7 mins
Ally Streelman
Kick off your life as a collegiate in Canada by learning if and how you can land a credit card as an international student.
#credit card
#credit
#international student
#student
Can a non-resident get a credit card in Canada?
5 mins
Dan BuchererNon-residents and newcomers can get a credit card in Canada. Make sure you know that’s what you want before signing the dotted line!
Can a non-resident get a credit card in Canada?
5 mins
Dan Bucherer
Non-residents and newcomers can get a credit card in Canada. Make sure you know that’s what you want before signing the dotted line!
#credit
#credit card
#newcomer
#immigration
How much money do you need to move to Canada?
7 mins
Ryan SeveranceAre you thinking about moving to Canada? Here’s how much money you’ll need to qualify for a visa and thrive once you arrive.
How much money do you need to move to Canada?
7 mins
Ryan Severance
Are you thinking about moving to Canada? Here’s how much money you’ll need to qualify for a visa and thrive once you arrive.
#newcomer
#immigration
#visa
#savings
What credit score do new Canadians start with?
8 mins
Jennifer WekslerMoving to Canada? Here are a few easy tips to help you establish and build credit from scratch.
What credit score do new Canadians start with?
8 mins
Jennifer Weksler
Moving to Canada? Here are a few easy tips to help you establish and build credit from scratch.
#newcomer
#credit
#credit history
#immigration