Maple News reports that CanadaVisa, in partnership with TD Bank, recently hosted an insightful webinar titled ‘Understanding Credit as a Newcomer to Canada’. The session was tailored to help immigrants navigate the financial landscape of their new country, with a particular focus on the fundamentals of credit in Canada.
For newcomers, establishing a strong credit history is one of the most critical steps toward building financial security. A good credit score not only enables access to loans and credit cards but also plays a key role in securing rental housing, receiving favourable mortgage rates, and even gaining employment in certain industries.
The webinar provided a comprehensive overview of how credit works in Canada, the importance of building credit early, and practical steps to maintain a healthy credit profile. Topics included how credit scores are calculated, what factors influence them, and strategies to use credit responsibly without falling into debt.
Speakers from TD highlighted various credit-building tools available to immigrants, such as secured credit cards and newcomer banking packages designed specifically to help build financial foundations from scratch. The session also emphasized the importance of budgeting, monitoring one’s credit report regularly, and making timely payments.
According to Maple News, these initiatives are part of a growing effort by Canadian banks and immigration support organizations to empower immigrants with the knowledge and tools needed to thrive financially. With over one in four residents in Canada born abroad, such resources play a vital role in supporting financial inclusion.
Newcomers were encouraged to take control of their financial journey by educating themselves early. Webinars like this not only offer clarity on often-confusing credit systems but also connect immigrants with trusted financial advisors who understand the unique challenges faced by newcomers.
To watch the full webinar and gain actionable insights on how to build credit effectively in Canada, viewers can access the session through the provided video link. It’s a valuable resource for anyone looking to start their Canadian financial life on solid footing.
Maple News will continue to bring timely advice and news to support immigrants in successfully settling and thriving in Canada.