Credit score is important for new Canadians because it serves as a measure of how responsibly and effectively you manage your finances. A good credit score demonstrates healthy financial behavior and shows that you are reliable and organized when handling any financial responsibility. Having a good credit score can help you qualify for better rates on loans, mortgages, and credit cards, which may save you hundreds or even thousands of dollars each year. Good credit also plays an important role in renting or leasing, as potential landlords may be more likely to offer you a lease with reasonable terms if you have a good credit score.
How to build your Credit
- Get a Secured Credit Card: Secured credit cards require a security deposit, and will help to build credit.
- Build Credit With Experian Boost™: Experian Boost™ can help improve a credit score by taking into account your on-time payments for certain utility and cellphone bills.
- Get Add-on Cards: If a family member or friend is willing to add you to an existing credit card account as an authorized user, this could help build your credit.
- Take Out a Small Loan: Obtaining a small loan with a local bank or credit union can help to build and establish credit.
- Monitor Your Credit Score: Staying on top of your credit score by monitoring it regularly, can alert you of changes and allow time to address any issues.
Advantages of a good credit score
Get your college diploma today.
Email us at info@globalbridge-edu.com
Call Now!
+1 (587) 330 2996
