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kluk · 09-09-2013, 11:19 PM

-set up direct deposit
-set up monthly contributions to either your TFSA/RRSP/RESP etc to indicate that you save.
-Pay off all credit facilities on time (if not then at least min payments). If you are 1 day late you get a R1 status on your bureau meaning that a payment has been missed. (R1 status = late payments that are 1-30 days late and it reaches as high as R9. IF you have an R9 forget about getting anything credit related as no one will lend and it is almost equivalent to bankruptcy).

Since you are planning to purchase a home in the near future, try reducing/cancelling some of your existing credit facilities that you don't use because banks see approved credit as potential credit that you can get your hands on and you would much rather have that "approved" credit go towards your mortgage limit then say a 20% interest credit card.

Credit building takes time that's why most people tend to start young.

09-09-2013, 11:19 PM	#6
kluk RS.net, where our google ads make absolutely no sense! Join Date: Sep 2009 Location: North Van Posts: 910 Thanked 951 Times in 145 Posts Failed 384 Times in 49 Posts	-set up direct deposit -set up monthly contributions to either your TFSA/RRSP/RESP etc to indicate that you save. -Pay off all credit facilities on time (if not then at least min payments). If you are 1 day late you get a R1 status on your bureau meaning that a payment has been missed. (R1 status = late payments that are 1-30 days late and it reaches as high as R9. IF you have an R9 forget about getting anything credit related as no one will lend and it is almost equivalent to bankruptcy). Since you are planning to purchase a home in the near future, try reducing/cancelling some of your existing credit facilities that you don't use because banks see approved credit as potential credit that you can get your hands on and you would much rather have that "approved" credit go towards your mortgage limit then say a 20% interest credit card. Credit building takes time that's why most people tend to start young.