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Credit and Credit History

Many banks in Canada will not give a person a credit card if they do not have a Canadian credit history.  A credit history is a record of the loans a person has applied for and credit cards they have used.  Having a good credit history is important because when you apply for a loan, it shows the lender that you have paid back your past debts.  A good credit history is important when you are applying for a mortgage or a personal loan.

There are different options to get a credit card with no Canadian credit history.  Talking to the staff at your bank is a good place to start.  Other options include applying for a secured credit card, a joint card or a retail credit card.

Visit In My Language to learn more about credit and Canadian credit history.