this post was submitted on 02 Apr 2024
25 points (100.0% liked)
Canada
7206 readers
556 users here now
What's going on Canada?
Communities
🍁 Meta
🗺️ Provinces / Territories
- Alberta
- British Columbia
- Manitoba
- New Brunswick
- Newfoundland and Labrador
- Northwest Territories
- Nova Scotia
- Nunavut
- Ontario
- Prince Edward Island
- Quebec
- Saskatchewan
- Yukon
🏙️ Cities / Local Communities
- Calgary (AB)
- Edmonton (AB)
- Greater Sudbury (ON)
- Halifax (NS)
- Hamilton (ON)
- Kootenays (BC)
- London (ON)
- Mississauga (ON)
- Montreal (QC)
- Nanaimo (BC)
- Oceanside (BC)
- Ottawa (ON)
- Port Alberni (BC)
- Regina (SK)
- Saskatoon (SK)
- Thunder Bay (ON)
- Toronto (ON)
- Vancouver (BC)
- Vancouver Island (BC)
- Victoria (BC)
- Waterloo (ON)
- Winnipeg (MB)
🏒 Sports
Hockey
- List of All Teams: Post on /c/hockey
- General Community: /c/Hockey
- Calgary Flames
- Edmonton Oilers
- Montréal Canadiens
- Ottawa Senators
- Toronto Maple Leafs
- Vancouver Canucks
- Winnipeg Jets
Football (NFL)
- List of All Teams:
unknown
Football (CFL)
- List of All Teams:
unknown
Baseball
- List of All Teams:
unknown - Toronto Blue Jays
Basketball
- List of All Teams:
unknown - Toronto Raptors
Soccer
- List of All Teams:
unknown - General Community: /c/CanadaSoccer
- Toronto FC
💻 Universities
💵 Finance / Shopping
- Personal Finance Canada
- BAPCSalesCanada
- Canadian Investor
- Buy Canadian
- Quebec Finance
- Churning Canada
🗣️ Politics
- Canada Politics
- General:
- By Province:
🍁 Social and Culture
Rules
Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage:
founded 3 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
So let me get this strait... if you're struggling to make the 3200$ rent payment each month... because your roommate dipped or you got your hours cut... your credit rating gets tanked. And a tanked credit score means banks can charge you more for loans. Additionally future landlords and (apparently now even employers) are legally allowed to pass on you for ... let me get this right... being unlucky?
Well, to be fair, that is what credit scores are like for everyone. Either of those things can make you miss a mortgage payment, or a car payment, or a utility bill, or a loan payment, or taxes….
This just adds one more thing that can tank your credit score.
I don’t see the point. If you need to build credit, get a credit card ( even a secured one ) or take out a small loan. Use the loan money to pay off the credit card. Or take out an RRSP loan and partially pay it back with the tax refund.
Why would you want to add rent to your credit score? If you are too financially marginal to take out a $1000 loan or get a $500 credit card ( or even a $250 secured card ), you are probably late on your rent sometimes.