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Building credit.

Credit is more than just having a credit card. Your credit score can affect your ability to get a job, a phone plan or a vehicle, and can impact longer-term goals such as buying a home.

So what should you do if you’re just getting started with credit, or recovering from a bad credit experience?

Where to start

It can be difficult to build or restore your credit rating. Many lenders will be hesitant to take you on as a customer if you have no credit history or are emerging from a consumer proposal or bankruptcy. In other words, usually you need credit to get credit.

Fortunately, Capital One has your back. We’ve helped over 4 million Canadians get access to credit and begin their journey to a good credit rating. But don’t take our word for it – here’s what our customers say:

★★★★★ Overall rating value is 5 of 5 stars.  · 4 months ago
Guaranteed Mastercard®
Build my credit. Love how I can build my credit every month with a Capital One card. I will recommend it to anyone who is trying to get their credit back in a safe zone.

★★★★★ Overall rating value is 5 of 5 stars.  · 4 months ago
Guaranteed Secured Mastercard
Great card to begin re/building your credit.
I have found that my credit score has increased significantly. Thanks to responsibly using this card and making more than the minimum payments.

The little things

Building or rebuilding your credit score can be a long process. It’s important to remember this, and to start small. Even with a modest credit limit, you can demonstrate your creditworthiness with small everyday purchases at your local grocery store, drugstore or coffee shop. Stay within your credit limit and ensure that you make your monthly payments on time, and you’ll be laying the foundation for a solid credit rating – one purchase at a time.

Right on time

Whether it’s for outings with friends and family, medical appointments or meetings with colleagues, being punctual always makes a good impression. Every time you make a credit card payment on time, you show that you have the ability and intention to repay what you’ve borrowed. And Capital One helps you stay on course with alerts to remind you when a payment is due.

The confidence you inspire by respecting the terms of your cardholder agreement will be rewarded over time and, before you know it, your credit score will be on the rise. (Having said that, you have to ensure you’re not also engaging in behaviour that will lower your score, such as applying for too many credit cards or maxing out your available credit.)

That extra something

Want to turbo-charge your ride to a better credit score? By paying more than the monthly minimum on your statement, or making additional payments between statements, your balance stays low and your available credit high, which makes you look even more attractive to lenders … and will be reflected in your ever-improving credit score. Everybody likes to get a little extra!

Being educated about credit, and having access to the right tools and partners, will be key factors in your success with credit. Capital One is here to help!

* If Quick Check pre-approves a card, you can be 100% sure we’ll approve your application as long as:

a. There’s been no change in your credit file information, personal information or financial status from the time you receive your Quick Check results to the time you apply for one of our credit cards;

b. You’re at least the age of majority in the province or territory you live in;

c. Your application isn’t flagged for fraud prevention;

d. You don’t have an existing Capital One account; and

e. You haven’t applied for a Capital One account in the last 30 days or had an account with us that was not in good standing in the last year. In good standing means not past due, over limit, fraudulent, restricted, or part of a consumer credit counselling program or bankruptcy.

In some cases, we may not be able to open an account for you even though your application was approved. This can happen if we’re unable to verify your identity, or you don’t provide the required security funds if you’re approved for a Secured Mastercard®.