Initially, families in Canada for less than two years had lower credit visibility, but this increased to 93.9% for those in Canada for two to four years.
A StatsCan study reveals that credit visibility among new Canadian immigrants improves over time. Initially, families in Canada for less than two years had lower credit visibility, but this increased to 93.9% for those in Canada for two to four years. Factors influencing credit visibility include household size, age, education, income/assets, employment, language, and years in Canada. The study recommends credit bureaus consider non-traditional sources like rent and utility payments to enhance credit access for immigrants and reduce credit invisibility.
