How international students can build credit in Canada Jul 16th

The “Big Five” Canadian banks offer credit cards and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Did you know that there are many other options?

Latest News

3 affordable South American destinations to stretch your travel dollar Jul 19th

With some Canadians skipping the United States in favour of destinations further afield, countries like Peru, Bolivia, and Argentina are attracting more attention. Bolivia is the cheapest of the three, although travellers from Canada will find all of them relatively affordable. 5 ways to stay on .... More »

Chexy co-founder Liza Akhvledziani on investing, debt, and why you should always negotiate Jul 17th

When Liza Akhvledziani moved to Canada as an international student, she quickly realized that money worked differently here. From building a credit history to understanding how debt could affect her financial future, she had to learn a new set of rules while rebuilding her financial life from scratc.... More »

The best GIC rates in Canada for 2026 Jul 22nd

GIC comparison tool Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance. Why trust us MoneySense is an award-winning magazine, helping Canadians navigate m.... More »

More Canadians are rethinking their bank. Should you? + MORE Jul 23rd

Clinton Begin was growing tired of frequent visits to bank branches and calling into the trading desk to check on various transactions. “There (were) a lot of things that just took too much of my time. I was always phoning, always going to visit them. It was always a big deal,” he recalled. .... More »

Peel police rescue 9 people clinging to capsized boat near Port Credit Aug 16th

Officers found the vessel flipped over nearly 50 metres south of the Ridgetown break wall, a Peel police spokesperson said..... More »

How international students can build credit in Canada

– moneysense.ca

Moving to Canada as an international student comes with a long financial to-do list, and building credit is one of the most important items on it. Your credit history from home typically doesn’t transfer, which means you may need to start from scratch when applying for a credit card, phone plan, apartment rental or loan.

Fortunately, building credit in Canada can be relatively straightforward. Many banks, including RBC, offer credit cards specifically designed for students and newcomers, making it easier to get approved and start establishing a credit history early.

How can international students build credit in Canada?

International students can start building credit by opening a credit card, setting up a cell phone or internet plan in their name, and paying bills on time. These activities may be reported to Canada’s two main credit bureaus, Equifax and TransUnion.

Using a credit card responsibly is one of the fastest ways to establish credit. Paying your balance on time, staying well below your credit limit, and avoiding missed payments can help you build a strong credit score over time…

Continue Reading On moneysense.ca »

Why not follow our RSS feed to keep in sync with the latest Canadian Credit Card news?

Share