Building a good credit history is important to your financial success in Canada.<\/p>\n\n\n\n
Whether you\u2019re a younger person just starting out on your credit journey or a newcomer to Canada, it’s a good idea to learn about how the Canadian financial system<\/a> works and the best ways to build a good financial foundation for your life.<\/p>\n\n\n\n In this article, we share the best credit cards to help you build your credit history and get yourself going on your credit journey.<\/p>\n\n\n\n Your credit history is a record of how well you’ve managed your credit over time. This information is based on the credit accounts you have (credit cards, lines of credit, mortgages, etc.), and details information such as:<\/p>\n\n\n\n The information is them compiled into your credit report<\/a> and credit score<\/a> by a credit bureau like Equifax<\/a> and TransUnion<\/a>.<\/p>\n\n\n\n Your credit history and credit score are both important as this information is what\u2019s used when you apply for credit cards, personal and business loans, mortgages, and more. It tells the story of your ability to pay your bills on time and responsibly handle your finances.<\/p>\n\n\n\n Getting your first credit card in Canada is an important step in building up your credit history. Luckily, there are some credit cards that are structured to be more accessible, and these can support your first steps toward building a strong financial foundation.<\/p>\n\n\nWhat Is Credit History and Why Does It Matter?<\/h2>\n\n\n\n
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