Listen we understand you may want to pay off your credit cards and have zero debt. We all have some sort of debt. The credit card companies thrive off of us owing them money.
In order to build proper debt the credit card companies want us to keep the utilization under %70 percent. For example if your card limit is $1000 you would want to keep it under $700 balance in order to build proper credit.
A lot of times people think that having no active trade lines is the smart thing to do but in Canada everything is based off credit. No credit means they will not allow you to have loans, mortgages, line of credits, etc.
We have found this is the fastest way to build credit in our years of experience at loanspot.ca . There is different types of credit cards in order to help build your credit. Secured and unsecured. Secured is when you would put money upfront in order to secure the funds from the credit card company. Usually these cards are guaranteed approval as long as you have the funds! If you would like to see the credit card options available for you please apply to our website here.