Perfect for newcomers & those rebuilding. Start your journey to a 700+ score.
Checking newcomer & bad credit eligibility.
In Canada, your credit score is essentially your financial resume. Whether you are applying to rent an apartment, financing a reliable car to get to work, or setting up a cell phone plan, companies will check your credit file. If you are a Newcomer to Canada (such as those arriving under the CUAET program), or if you've faced financial hardships in the past, a low or non-existent score can close many doors.
That is where Credit Building Programs come in. Unlike traditional loans that reject applicants without a strong history, credit building products (like secured cards, credit builder loans, or specialized tools like KOHO Cover) are specifically designed to approve you. Their main purpose is to help you establish a positive payment history.
At Loangate, our matching system connects you with Canadian financial institutions that report your positive activity directly to the major credit bureaus: Equifax and TransUnion. By matching with the right program and making consistent, on-time payments, you can watch your score climb steadily, opening the door to better interest rates and premium financial products in the future.
Most users begin to see positive changes in their credit score within 30 to 90 days of starting a credit building program. Consistent, on-time payments are the most important factor. If you are starting from zero (no credit history), it typically takes about 6 months to generate your first official credit score.
Yes! The programs we match you with are specifically designed for individuals with bad credit, no credit, or those who have recently arrived in Canada. Approval rates for credit builder products are exceptionally high because they minimize the risk for the lender.
It depends on the product you are matched with. Some secured credit cards require a small refundable deposit to act as your credit limit. However, there are also "Credit Builder Loans" and subscription-based tools that do not require any upfront security deposit at all.