Credit issues are no longer a novel topic, but for many people living in Canada, especially those who have just immigrated to Canada, they are still not particularly clear about the importance of credit. In Canada, basically everyone has a central credit record file of their own, and people usually use credit cards to pay for expensive or big-ticket items. However, most of the new immigrants who have just immigrated from China do not have such a concept of consumption. Below, I will introduce you to the credit issues that you must know when living in Canada. How to obtain a personal central credit record file?

For example, after young people enter college, many different credit card institutions, including the credit card departments of banks, or credit card companies in society, will proactively contact these college students. Verify that the student is actually enrolled at the school and a credit card will be automatically approved for them; or when people have a full-time or part-time job and start filing taxes, they have already begun to build their own central credit history Filed.

Of course, some new immigrant friends may feel that they have enough cash to pay for large items in full without the need for a loan. However, it is still recommended that you apply for a small portion of a mortgage or loan, because only in this way can you build up your credit history in Canada bit by bit.

What is a Secure Card?

Some new immigrants have just arrived in Canada and have not found a suitable job or started to buy a home immediately, so they may not be satisfied when applying for a credit card. was approved. Because this type of application is an unsecured credit card application, it is generally evaluated based on personal credit history alone. For immigrants who have just arrived in Canada, there will be resistance before they start to establish a credit record.

But it does not mean that you cannot apply for a credit card or that banks are unwilling to issue credit cards. At this time, you can apply for a secured credit card (Secure Card). Usually, a sum of money is first deposited into the account as a mortgage, usually 500-2000 Canadian dollars as a mortgage, and the bank will grant a credit limit of 500-2000 yuan, so that you can get a credit card and start to accumulate credit. This mortgage amount is frozen by the bank for a period of time, usually 3-6 months. After a period of time, when you have a corresponding credit record, the bank will unfreeze the previous mortgage amount, and then the credit card will change from "secured" to "unsecured". After establishing a good credit record, when you apply for a loan, the bank can approve the loan by checking your credit record. For customers with good repayment records, it is easier to obtain a more favorable interest rate.

86 Assistant reminds us that Canada attaches great importance to personal credit, so when you receive your credit card bill, you must repay it on time before the due date.