Hi, I entered Canada in 2012 and opened a bank account under RBC before I left for Abu Dhabi. I'll be arriving in canada for good in February 2014 and while I was looking for an apartment for rent, I noticed that a credit history is required. I'm not really familiar with Credit Scores as we don't really have them in my home country. Can anyone please tell me how can I start building my credit score while outside Canada? I applied for a credit card under RBC and I plan to use it here in Abu Dhabi. Any suggestions please? ???
Credit Score?
- Thread starter amanderrific
- Start date
walter8299
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- Oct 19, 2011
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- 28-03-2012
There's Equifax or TransUnion for credit reports in Canada.
Most likely when the landlord do a check on you, there shouldn't be much finding as you never had any credit cards, debt payments (such as student loan, LOC, mortgage, etc) history.
So yes, having a Canadian bank credit card is a good way to establish some sort of credit score as long as you pay your card in full each month and on time.
Most likely when the landlord do a check on you, there shouldn't be much finding as you never had any credit cards, debt payments (such as student loan, LOC, mortgage, etc) history.
So yes, having a Canadian bank credit card is a good way to establish some sort of credit score as long as you pay your card in full each month and on time.
To build your credit score, you need to show that you consistently repay amounts that you borrow. Using your RBC credit card and settling the amount on a regular basis is one way to do that. There are some articles (you can google them) that say that your credit score is enhanced more if you have a balance outstanding and make the minimum payments rather than if you settle the amount in full every month, but that's a personal choice.amanderrific said:
I put my cellphone bill and other recurring bills on my CC. So there's a small amount of money billed
on my CC every month. I pay it off every month.
You can use your CC to buy gas or whatever, as long as you don't max out your CC and just use small amounts and
always pay it off on time.
That'll help building your credit score.
on my CC every month. I pay it off every month.
You can use your CC to buy gas or whatever, as long as you don't max out your CC and just use small amounts and
always pay it off on time.
That'll help building your credit score.