Empowering Canadian Newcomers: Quarters and Nova Credit Join Forces
Empowering Canadian Newcomers: A New Partnership
As Canada anticipates an influx of nearly 1.5 million permanent residents, there’s a growing recognition of the challenges they face when establishing credit and finding housing. In light of this, Quarters, a unique home savings rewards program, has teamed up with Nova Credit to support newcomers in navigating their financial journeys in a new country.
Quarters: Your Path to Home Savings
Quarters stands out as a free points program, designed to help users earn rewards that can be applied toward essential housing costs such as rent deposits or down payments. This innovative approach not only facilitates home savings but also encourages users to build their credit by reporting rental payments, creating a more accessible path to homeownership.
How the Partnership Works
The alliance with Nova Credit allows newcomers to initiate their home savings journey even before they arrive in Canada. By engaging with the Quarters platform from their home country, individuals can start earning points applicable toward future housing, all while establishing their credit history. Nova Credit's Credit Passport® enables these newcomers to transfer their international credit histories seamlessly, allowing them to access rental opportunities as soon as they arrive in Canada.
A Smoother Transition
“At Quarters, we believe that finding a home is more than just a transaction—it’s a significant journey,” stated Romir Joshi, CEO of Quarters. “We are excited to collaborate with Nova Credit to make this journey easier for newcomers. Our platform not only makes dream homes more attainable but also equips users with the financial tools necessary for success in Canada.”
Addressing Challenges for Newcomers
Quarters is committed to alleviating some of the hurdles newcomers face by presenting several opportunities for support:
- Building Credit Through Rent Reporting: Users can establish Canadian credit by reporting rent payments, expediting their access to financial resources such as credit cards and loans.
- Boosting Home Savings: By earning points through everyday purchases and interactions on the platform, newcomers can build their home savings. The network of partners associated with Quarters enables these points to cover significant portions of rental deposits or down payments.
Collin Galster, Chief Operating Officer at Nova Credit, added, “Quarters’ innovative strategy for long-term home savings will provide valuable financial pathways for newcomers who often find themselves underserved by conventional credit systems. Together, we aim to help newcomers not only establish credit but also settle confidently into their new homes.”
Learn More About Quarters
If you’re curious about how Quarters can facilitate your journey towards home savings and financial independence, consider exploring their platform. It offers various resources and opportunities to make the process smoother and more engaging for newcomers.
About Quarters
Quarters is dedicated to helping Canadians achieve their housing dreams, including those who are new to the country. Through an easy-to-use points system, users can accumulate rewards via everyday spending, redeemable for vital housing expenses like rent deposits and down payments.
About Nova Credit
Nova Credit empowers businesses by utilizing alternative credit data to foster growth. This significant data infrastructure aids lenders in filling the gaps often left by traditional credit analytics, offering valuable insights into consumer financial data.
Frequently Asked Questions
What is Quarters?
Quarters is a home savings rewards program that helps users save for housing through a points system.
How does the partnership with Nova Credit benefit newcomers?
The partnership helps newcomers establish credit history and earn points before arriving in Canada.
Can newcomers access housing before arriving in Canada?
Yes, newcomers can engage with Quarters’ platform from their home countries to start earning points for housing.
What is the Credit Passport®?
Credit Passport® is a tool by Nova Credit that allows newcomers to transfer their international credit histories to Canada.
How can I learn more about Quarters?
You can explore Quarters’ offerings through their website for more information on home savings and credit building.
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