Hi,

I did some research regarding credit score and credit reports. I think I managed to understand in a decent way what affects it.

I have recently moved to north america (canada this past summer to be specific). Upon my arrival I immediately applied for a VISA from my bank and a global transfer for my american express.
Ofcourse, VISA has given me a very low limit (expected) and the AmEx is a charge card. I pay my cards in full every month. Recently, VISA has increased my credit limit. I do not have a mortgage or any other loans. In fact, only three hard pulls are present on my report (VISA, AmEx, and wireless).

I have checked my credit report a couple of months ago and was 695 (equifax.ca). On researching I found out that it is a decent score for a 6 months or so credit history. (Is this true?)

I need to get a mastercard for those few places that only accept Mastercard (e.g. Tim Hortons).

My question is, when do I apply for this card? should I apply now and get it over with since I really doubt that I will be applying for any other card in the next 3 years. Or should I wait? And if I should wait how long do you advise?

Thanks for your help,

I think it would be more accurate to say that your bank has made these decisions, VISA does not issue cards. Does your bank also issue Mastercards, or must you apply at another issuer?

Yeh thats what I meant when I said VISA I was referring to my issuing back. The issuing back, CIBC, do not issue Mastercard. I was thinking about BMOs cashback.

Does checking my credit score/report every quarter or every 6 months hurt my score?

You can check your credit score / credit report as often as you want without hurting your score (soft inquiry). However, you may have to pay some service fee to obtain them.