RBC research reveals 1 in 5 Canadian students are "Credit Ghosts" -- without a credit score or credit history

EmitenTrust.com Canadian students face a different kind of ghost this Halloween: their credit history

Key Findings:

• 21% of Canadian students (18-24) don't have a credit score or don't know what it is
• 37% of those who have a score can't identify it;
• 42% have already faced a real-world consequence of limited credit history;
• RBC offers tools including the CreditView Dashboard, Credit Score Simulator, and a Credit Building Guide to help students build credit.

TORONTO, Oct. 21, 2026 /CNW/ -- More than one in five (21%) Canadians between the ages 18-24, either don't have a credit score or don't know what it is, according to new research commissioned by RBC. In other words, many young Canadians could be considered "Credit Ghosts" this Halloween, with little or no credit history, or no clear sense of where their credit stands. Even among the 78% who say they do have a credit score, more than one-third (37%) can't identify what that score actually is.

Do Canadian students know how to build their credit?
Students aren't ignoring their credit. Nearly half (48%) say they're actively trying to build or improve it, but more than one-quarter (28%) of students are still unsure whether they're on the right track:

• 12% don't know if what they're doing is working to build credit
• 16% want to build credit but don't know where to start

That knowledge gap can catch students off guard; 42% of students say they've already faced a real-world consequence of having little or no credit history, including:

• 11% had difficulty getting approved for a credit card
• 8% had difficulty getting a loan
• 6% had difficulty renting an apartment

"What stands out is that students care about their credit, but many are still navigating it without a clear sense of where they stand or what will help them make progress," said Lucianna Adragna, Vice President, Client Segments, Everyday Banking, RBC. "There is a learning curve for young Canadians beginning to make more financial decisions on their own.

To help students turn credit know-how into action, RBC created the Credit Building Guide, a practical resource that explains how credit works, what affects it and the everyday habits that can help build a stronger credit history.

How can you build your credit score as a student in Canada?

1. Don't let your credit be a mystery – check your score. For many young Canadians, the first step is finding out where they stand. Checking a credit score can provide a snapshot of their credit history and help identify where there may be room to improve. Checking your own score does not hurt it (a common credit score myth). RBC Online Banking clients can access their score for free through the CreditView Dashboard and track how it changes over time.

2. Don't let credit score myths spook you. Most students recognize some of the basics around building strong credit:

• 74% of students know that paying credit card bills on time is key to a good credit score
• 69% understand the importance of using credit responsibly over time

But not every credit habit is helping. Some students still believe myths about what can improve their score:

• 5% of students believe carrying a credit card balance from month to month can help their score
• 6% of students believe closing their oldest credit card can improve it

Small habits, like making payments on time, keeping balances manageable and giving your credit history time to grow, can make a huge difference. Students can also use Credit Score Simulator within the CreditView Dashboard to explore how different financial decisions could affect their score.

3. Build credit before you need to prove it. Students may encounter situations where their credit matters sooner than they expect. A first apartment, car loan or even some phone plans may involve a credit check. Students can start to build their credit early by focusing on small, consistent habits that will build credit history over time.

"Credit is a financial skill that is best learned by doing," said Sara Son Hing, Vice President, Personal Lending, RBC. "The good news is that building credit is often less about big moves and more about consistent ones. Paying bills on time, keeping balances manageable and using credit responsibly can build a stronger financial track record over time, which really matters when students are trying to rent an apartment, finance a car or get approved for a loan."

RBC tools to help students build their credit:

• CreditView Dashboard: Eligible RBC Online Banking clients can check their TransUnion credit score for free, with no impact to their score, and track how it changes over time. With the Credit Score Simulator Tool, students can explore how actions such as opening a new credit card or missing a payment could affect their credit score.
• NOMI Budgets: Helps students understand where their money is going and build a budget around their actual spending, making it easier to manage credit card balances.
• Student Credit Cards: RBC offers no monthly fee credit card options for students who are new to credit and may have limited or no credit history, providing one way to begin establishing a credit history when used responsibly.
• RBC Student Line of Credit: A flexible way to cover education costs while in school that, when repaid on time, helps students establish and strengthen their credit history early in life, laying the groundwork for future borrowing.
• Credit Building Guide: A practical resource covering how credit works, what affects a credit score, common credit mistakes and everyday habits that can help students build their credit history.

From Credit Ghost to Credit Builder
Ready to stop being a "Credit Ghost"? RBC's Credit Building Guide can help students understand where they stand, separate credit myths from facts and take practical steps toward building a credit history.

Survey Methodology
These are the findings of an Ipsos survey conducted on behalf of Royal Bank of Canada (RBC) that was fielded between August 25, 2026, to September 9, 2026. For this survey, a sample of 500 Canadian post-secondary students between the ages of 18 and 24 were interviewed online. The precision of Ipsos online polls is measured using a credibility interval. In this case, the poll results are accurate to within ± 5.4 percentage points, 19 times out of 20, had all Canadian PSE students been surveyed. The credibility interval will be wider among subsets of the population. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.

Disclaimer
This is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. The information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.

About RBC
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 105,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com.‎ 

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Media contact:
Matt Trocchi, Corporate Communications, RBC

SOURCE RBC Royal Bank