I think we need to define what a ‘credit’ score actually is, because I don’t think rent is a debt re-payment.Dasmo Not being able to buy a home here has nothing to do with your social credit score.
Your credit score ( not social credit score) affects your ability to get a mortgage and the interest rate that you have to pay on a mortgage.
For some current renters an increase in credit score will make a difference and allow them to make a home purchase.
If you have a good credit rating you may not be required to have as large a deposit as a down payment and can borrow a larger amount if needed.
I bought my first house totally on borrowed money.
Renters buy houses all over Canada not only in the most expensive cities.
Credit scores refer to repayment of debt and servicing debt. It doesn’t include what you buy using your debit card, because that’s not debt or credit.
The only thing I can see a rental payment credit score impact being is a negative one. If you don’t pay your rent, it dings your credit. But since rent isn’t debt, how can it positively impact your ‘credit’ score when there is no credit being provided? It’s all so odd.
Poilievre is going to have a field day with this one. How could the Liberals not see this as a major foible?