- Canadian Tax Resource Blog - http://blog.taxresource.ca -

How To Get Credit

If you are starting out or starting over, basic credit is important. Without basic credit, you ability to obtain some basic necessities such as telephone service, hydro and cable can be impacted.

If you are not sure if you have a credit history or not sure of what your credit report looks like, you can obtain a copy of your credit report for free by writing to Canada’s two major credit reporting bureaus:

Again there is no charge if you ask to see your report by mail but you may be charged to view this information through the internet.

It is important to periodically check your credit report (one a year is recommended) to ensure that information on the report is accurate and reflects your credit history.

Ways To Establish Credit

There are a number of ways you can begin to establish credit. Remember you must start small and build a history that shows you are responsible and pay your bills on time. Some common things you can do are:

Other Thoughts

Credit cards are excellent tools to establish credit and, if used wisely, can save you money. However, they are the most expensive loan you can take out so be sure to pay your bill before you have to pay interest.