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Managing your credit

When your anticipated expenses are higher than your income, it's good to have access to various credit sources, such as a credit card Credit card: Plastic card issued by a credit company (e.g., VISA) that you can use to make purchases on credit and pay for them at a later date. , a line of credit Line of credit: Amount of money determined by a financial institution that you can use in exchange for paying interest fees.   or a loan. But credit often comes at a heavy price if it isn't properly managed, opportunities to get into debt are many, becoming more and more available and often very appealing. Remember, however, that credit isn’t free, since interest increases the cost of your purchases.

Before you meet with an advisor to get a loan

Make sure you analyze your needs and determine the exact amount you need to borrow. You’ll need to obtain proof of employment, draw up a budget Budget : Complete list of all the estimated spending and income of a business or an individual.  and make a list of references.

The advisor will determine your repayment capacity, your prior credit history and your sense of responsibility to determine if you’re eligible for credit.

	Building your credit rating every day Length: 1 min 45 s Text transcript

You want to know more about:

Why do we need credit?	Concrete reasons why most people use credit.
How to obtain credit	Tips on applying for credit that will help your caisse advisor analyze your credit request more quickly.
Costs of credit	Examples to help you choose the best loan conditions for your situation.
Credit rating	How to build a good credit rating and limit your debt.
Credit card security	A few rules to follow to keep your credit card information safe.
School loans, bursaries and debts: a survival guide	Information on the Desjardins Student Loan Management Service and a brochure with answers to all your questions.