Build your credit in the Northwest Territories

Credit in the Northwest Territories: what’s different

Yellowknife, Hay River, Inuvik and Fort Smith are far apart, banking options are limited, and almost everything from groceries to vehicles costs more than it does down south. Credit is a practical necessity in the N.W.T., and the lenders deciding on it read the same Equifax file used everywhere else in Canada.

Your rights in the Northwest Territories

Consumer protection in the territory falls under the N.W.T. Consumer Protection Act, administered through Consumer Affairs, with the federal privacy law PIPEDA governing how companies handle your personal information. You can obtain a free credit report from Equifax Canada and TransUnion Canada, dispute inaccurate information and have it corrected.

Renting in the N.W.T. and your credit file

Tenant-landlord disputes are handled by the territorial Rental Officer, who doesn’t report payments to the bureaus. Boost members can have up to two years of past rent added to their Equifax file.

Situations we see most often in the N.W.T.

• Rotational mine and government workers whose files show gaps — see thin vs. damaged files.
• Young adults in Yellowknife getting a first card — see first credit for students.
• Residents who need a vehicle loan at a reasonable rate — see credit score for a car loan.

How AvenaCredit helps in the Northwest Territories

AvenaCredit is fully online — no branch, no appointment, no paperwork to mail. One monthly payment, reported to Equifax Canada as an on-time payment on a tradeline; no credit check, no interest, no setup fee — see how it works. Members gain an average of 71 points after 12 months. Plans start at $24.99 per month in Canadian dollars. Read the 30% rule, then choose a plan.