4 ways to get more from your money in Canada, without debt.

Your money leaves every month: rent, groceries, subscriptions, and most of it never comes back. Here are four ways to get something back from it, with no borrowing and no debt.

1. Earn rewards on spending you were going to do anyway.

You are already buying groceries and paying for transit. With the PlusCredit Plus plan, every purchase on your prepaid card earns points you can redeem for travel, statement credits or gift cards. You spend money you have already loaded, so you never owe anything afterwards and there is no interest to pay. Mastercard Zero Liability applies, so you are not responsible for unauthorized purchases.

One honest note. The free Spend plan does not earn points. A prepaid card is also not a credit card, and these cards do not report to Equifax. Their job is to keep your spending simple and interest-free.

2. Stop your savings from disappearing into everyday spending.

Money with a purpose is easier to leave alone. With jars, which come with Plus, you can make one for rent, one for a flight home and one for an emergency, and the money you set aside there stays set aside. Jars organize the money already in your PlusCredit wallet. They are not a separate account, and they do not earn interest.

3. Turn the rent you already pay into something you can show.

Rent is usually the largest payment a renter makes, and in Canada it usually does not show up on a credit report, so years of payments can leave no trace. Rent reporting changes that. A service verifies your lease, tracks each payment, and reports it to the credit bureaus, which are the companies that keep a record of how people handle credit. That gives any lender who looks at rent history something real to see, and your landlord does not need to do anything. With PlusCredit, you set it up in the app.

Rent is the bill you never miss, and it deserves some credit. One honest limit: whether a lender looks at rent history is up to the lender, and nobody can promise how it will affect a credit score.

4. See what lenders see before they do, so nothing catches you off guard.

Many people go years without looking at their credit file, then find out what is in it when a lender says no. A lender should not know more about you than you do. Credit monitoring lets you look whenever you want. In the PlusCredit app, you can see your Equifax credit score and full report, see every time your credit has been checked, and start a dispute if something looks wrong. You do not need to pay rent to use it.

There is no single master credit score, because lenders use different versions. The score in the app is your Equifax score, and Equifax powers our credit monitoring.

What it costs.

Rent reporting from now on and credit monitoring are each $5 CAD a month on the free Spend plan, or both are included in Plus at $7.99 CAD a month. You can also choose to report up to 24 months of rent you have already paid, which is a one-time $35 CAD on the Spend plan. PlusCredit earns money from a markup built into monthly feature fees, never from interest.

PlusCredit is not a bank and is not available to residents of Québec. Funds on the card are not deposits and are not eligible for CDIC insurance.

Want your card spending reported too? A secured card is on the way.

A secured card is a card where you put down a deposit, and that deposit sets your limit. Because you have covered the limit yourself, there is no interest, and payments on the PlusCredit secured card are reported to Equifax with 0 interest fees attached. Our secured card is coming soon, so sign up here to be the first to hear when it arrives.

Want to see a bit more about what we offer and how? See how it works in seconds.

Questions people ask before they start.

Do I need a credit score to sign up?
No. No credit score is needed to sign up.

Will checking my own credit lower my score?
No. Checking your own information in the app is a soft inquiry. It does not affect your score, and only you can see it.

Is the PlusCredit card a credit card?
No. It is a prepaid card, so you spend money you have loaded, and there is no interest or borrowing.

Do I need to rent to use PlusCredit?
No. Rent reporting is for people who rent. Credit monitoring and the prepaid card are open to everyone, and jars come with Plus.

Start today.

Start free on PlusCredit and download the app for Android or iPhone. Questions? Email support@pluscredit.ca and we will reply within 24 hours.