Not sure how to make a savings plan? Read on…
Bank of Canada Governor Stephen Poloz at a press conference following an interest rate announcement in April. After months of speculation, indeed, the Bank of Canada decided to raise its benchmark interest rate by 25 basis points this morning. This quarter-point hike brings the target for the ov.... More »
At this time of year, it seems like the financial world is awash with information on what is a Registered Retirement Savings Plan (RRSP), the benefits of having one, and how to start one. But there are still a few planning points that Canadians either aren’t aware of or don’t know how to fully .... More »
Is the Canadian winter starting to get to you before it can even officially start? Are you tired of waking up in the dark and leaving work in the dark? Do you feel like you’re succumbing to the stresses and demands of the busy holiday season? When we average less than three hours of sunshine p.... More »
Every year, RateSupermarket.ca carefully analyzes the Canadian credit card and banking industry and awards the best products at its Best of Finance Awards. There will come various points in every person’s life when they’ll be required to make a financial choice. But when there are hundreds of b.... More »
The new school year is in full swing and if you’re a university or college student, then you’ve probably already settled comfortably into your new routine and dorm room. As you buy books, begin assignments and make new friends, the last thing you’re likely thinking about is your credit.
But even at this stage of life, it’s critical that you start planning for your future. That means making smart credit decisions now that will pay off later in life, saving you up to tens of thousands of dollars. Adopting solid habits while you’re a student can lead to lower interest rates when borrowing money for large purchases such as car loans or mortgages. You might even be able to refinance your student loans after you graduate and pay a much lower interest rate.
So, what can you do now to build your credit? Here are seven strategies that you should consider:
1. Become an authorized user
One of the biggest factors that influences your credit score is the length of credit history associated with your file…