Many newcomers in Canada are unfamiliar with the concept of building credit history, monitoring personal credit scores, or even using a credit card for everyday purchases. Having a comprehensive understanding of how credit works is crucial to being debt-free and setting yourself up for financial success in Canada.
The first step to get the ball rolling towards your credit score is to open a bank account. The Royal Bank of Canada (RBC) supports Arrive, and with a 150-year commitment to newcomer success in Canada, we are uniquely positioned to be able to help and support newcomers, like yourself, with credible and authentic resources to guide and inform your financial journey in Canada.
Arrive’s guide on credit and credit scores provides an overview of the different types of credit available. It explores different scenarios where newcomers need to provide a credit score, dives deeper into how to build a good credit history, and shares practical tips on how to maintain a good credit rating. With must-know information about the five Cs of Credit in Canada: Character, Capital, Capacity, Collateral, and Credit, the Arrive credit guide is an incredibly useful resource for any newcomer!
About Arrive x RBC
Arrive and RBC are committed to helping set you up for financial success in Canada. We know that figuring out your financial life in Canada is more than just finding a bank account; it’s also about finding the right partner to invest in your financial success. RBC is the largest bank in Canada* and here to be your partner in all of your financial needs.
This article offers general information only and is not intended as legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. While information presented is believed to be factual and current, its accuracy is not guaranteed and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the author(s) as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or its affiliates.