What credit building costs in Canada, and where AvenaCredit sits
Credit-building products in Canada fall into three price bands, and the cheapest option is not automatically the best value — what matters is how much gets reported to your file for the money.
Free to $10 a month buys a single-feature app: one small line reported, or rent alone, with nothing else attached. $10 to $30 a month is the range for a secured card, where you also tie up a deposit, or a basic reported tradeline. Credit builder loans look cheap monthly but charge interest and fees to release money that was yours — we broke that arithmetic down in the credit builder loan comparison.
AvenaCredit starts at $24.99 a month and reports a $1,000 tradeline, which is larger than most entry lines, with no deposit, no interest and no credit check. Build at $34.99 adds rent and utility reporting. Boost at $84.99 adds a $3,000 tradeline, a two-year rent backdate, one-on-one guidance and the secured card free. There is no setup fee and no annual fee.
What each plan reports to Equifax Canada
The price differences here are differences in what lands on your credit file, not tiers of customer service. This is the full comparison:
| What gets reported | Starter $24.99 | Build $34.99 | Boost $84.99 |
|---|---|---|---|
| Tradeline reported to Equifax | $1,000 | $1,500 | $3,000 |
| Monthly on-time payment reported | Yes | Yes | Yes |
| Rent reporting | No | Yes | Yes |
| Utility reporting | No | Yes | Yes |
| Backdated rent history | No | No | Up to 24 months |
| Monthly balance alerts | Yes | Yes | Yes |
| Dashboard and personalised tips | Yes | Yes | Yes |
| Rebuild Your Credit ebook | Included | Included | Included |
| 1-on-1 credit guidance | No | No | Included |
| AvenaCredit Secured Card | +$9.99/mo | +$9.99/mo | Included free |
| Credit check to join | None | None | None |
Which plan is right for your file
Choose by what your credit report is missing, not by budget alone. Pull your Equifax report first and read it line by line — it tells you which of these three situations you are in.
You need one solid reported account
Your file is thin rather than damaged, your rent is already documented elsewhere or you own your home, and what you are missing is simply an account reporting on time every month.
You rent and it counts for nothing
You pay rent and utilities every month and none of it reaches your credit file. Build turns your largest recurring payments into reported history alongside the tradeline.
You have a deadline
A mortgage or vehicle application is coming inside 12 to 18 months, or you are rebuilding after a proposal or bankruptcy. The two-year rent backdate adds history you have already earned instead of waiting for it.
The honest case for not paying us
If your report already shows three or more accounts reporting on time with balances under 30% of their limits, another tradeline will not move your score much. Put the $24.99 against a card balance instead — utilization is 30% of the score and it responds within one billing cycle.
If all you want is rent reported and your file already has cards and loans on it, a standalone rent app at $5 to $10 a month is the cheaper tool. We compared them in the rent reporting app comparison, including the ones that report to the bureau that does not count rent.
And if you have active late payments on accounts right now, fix those first. A reported on-time membership payment helps, but it will not outweigh a card you are currently 60 days behind on.
Billing, fees and cancelling
- Billed monthly in Canadian dollars by pre-authorized debit, on the same date each month. Applicable taxes extra.
- No setup fee, no annual fee, no interest. You are not borrowing, so there is nothing to charge interest on.
- No credit check at signup, so joining adds no inquiry to your Equifax file.
- Returned payments carry the bank's processing cost plus an administrative fee for contacting you and correcting the file. Both are listed in the Membership Agreement before you pay.
- Cancelling Starter or Build can be done from your account. A closed account stops adding new on-time payments, which is the part that builds the score, so cancel with that in mind.
Pricing questions
How much does it cost to build credit in Canada?
Reported credit-building products generally run between $5 and $85 a month. Single-feature apps sit at the bottom, secured cards in the middle plus a refundable deposit, and full memberships that report a tradeline, rent and utilities at the top. AvenaCredit runs $24.99 to $84.99 a month with no deposit, no interest and no credit check.
Is there a cheaper plan than Starter?
No. $24.99 a month is the entry price, and it includes the $1,000 tradeline, balance alerts, the dashboard and the ebook rather than charging separately for them.
Do I need a deposit?
Not for the membership itself. Only the optional AvenaCredit Secured Card requires a deposit, which you choose between $250 and $5,000, and it is refundable.
Are there hidden fees?
No setup fee, no annual fee and no cancellation fee on Starter or Build. The only additional charges are for a returned payment, and they are disclosed in the Membership Agreement before you sign.
What happens to my tradeline if I cancel?
The history already reported stays on your Equifax file and ages normally. The account is reported as closed, and no new on-time payments are added after your final month.