Thriving as a new member in a credit society

A good credit rating is essential for life in Canada, as most lenders want to know how you have handled credit in the past to determine how well you will handle it in the future. Credit card issuers, auto dealerships and mortgage lenders will check your credit score before deciding how much to lend you and at what interest rate. Here are tips to build your credit in Canada and the pitfalls to avoid.

Understanding the Canadian Credit System

With the level of misinformation and contradictions on credit history and score on the internet, understanding the Canadian credit system is a feat achieved by very few. Immigrant Muse Editor, Oyin Ajibola had a scenario-based and insightful conversation with Julie Kuzmic, Senior Compliance Officer, Customer Advocacy at Equifax, to help immigrants better understand the concept of credit in Canada.