Establishing credit
One of the easiest ways to establish credit is to apply for a credit card. If you don't yet have one, fill out an application for one right away. Even if you don't believe in using credit cards for your shopping, they are the fastest way to establish a good credit history. If you already have a credit card and haven't been using it, you should be.
You don't have to make incredibly large purchases and run up a huge debt on your credit card in order to build up your credit rating. Just make a couple of small purchases and make sure that you pay off your card in time. Even if you only buy something that is worth $20 once a month, the fact that you take responsibility and make your payments on time shows that you are able to handle credit wisely.
You can take a look around for credit cards that do not charge an annual fee. This means that it will not cost you anything to use your card at all since you do not have to pay interest on it if you pay off the balance in time.
Take out a small loan
Another way to establish credit is by taking out a small loan at your local Downtown Ottawa bank. A small $1000 or $2000 loan can be taken out and repaid in a short period of time. You don't even need to spend the money that you borrow if you don't want to. Simply set it aside to pay back the loan to show that you are a responsible borrower.
The sooner you start establishing a good reputation handling credit the better off you'll be once you are ready to ask for mortgage. Any lender is going to pull a record of your credit file to determine if you are a high risk or whether you are a good candidate for a home loan. If you are thinking about purchasing your first Downtown Ottawa home in the near future, start establishing your credit immediately.