I am often asked for ways to build your credit if you are new to Canada or just starting out and would like to soon purchase a home of your own. These tips also apply to those who have had some credit issues in the past and need to focus on improving their credit. So here are some tips that I give my clients.

• Apply for a credit card with at least a $1,500 limit. Use it and make that it is paid on time and in full.
• Apply for a small personal loan of a similar amount and make sure that your payments are made on time and in full
• Keep the balances of your existing cards well below their limits.
• Fixing mistakes on your credit report. Sign up for one of the free credit monitoring services out there