How Canadian Credit Works
Understanding the credit system from scratch—no prior knowledge required.
What is a Credit Score?
A number from 300-900 that shows how reliably you repay debts. Lenders use it to decide if they'll lend to you.
How Credit is Built
Start with a secured card or become an authorized user. Pay on time every month. Most people need about 6-12 months of payment history before a score can be calculated, though this is a general guideline, not a published bureau rule.
Credit Bureaus in Canada
Equifax and TransUnion track your credit. You can request free reports once a year from each.
Good Credit Habits
Many experts suggest keeping utilization under 30% as a practical guideline; pay full balance monthly, don't close old cards, and limit hard inquiries.