Quarters, a pioneering home savings rewards program, has partnered with Nova Credit, a leader in credit infrastructure and analytics.
Quarters offers a points program where Canadian users, including newcomers, can accumulate points redeemable for rent deposits or down payments.
The partnership aims to assist newcomers to Canada in overcoming initial financial and housing challenges as they establish credit and secure housing. It’s especially timely as Canada expects nearly 1.5 million new permanent residents in the coming three years.
Quarters enables users to build credit by reporting rental payments and accumulate home savings through a points system. Users earn points through everyday spending and platform engagement, with partners enabling redemption for significant housing costs. Meanwhile, Nova Credit provides Credit Passport®, which allows newcomers to transfer their international credit histories to Canada, facilitating easier access to rental and housing opportunities.
Through the partnership, Quarters leverages Nova Credit’s Credit Passport® to offer newcomers the ability to start earning points and building credit even before they arrive in Canada. This initiative provides financial advantages and eases the transition to Canadian life, making the process of finding and securing a home more seamless and affordable.
Besides transferring credit histories, Quarters helps users build Canadian credit by reporting their rental payments. This enhances their financial opportunities, including obtaining loans and credit cards. The program potentially covers up to 50% of rent deposit or down payment costs through accumulated points, further easing the financial burden on newcomers.
Quarters CEO Romir Joshi stated, “At Quarters, we believe that finding a home is more than a transaction—it’s a journey. We’re thrilled to partner with Nova Credit to make this journey smoother for newcomers. Our platform not only makes dream homes more affordable but also empowers users to build a strong financial foundation in Canada.”
Nova Credit Chief Operating Officer Collin Galster added, “Quarters’ innovative approach to long-term home savings will create more financial opportunities for newcomers who are underserved by the traditional credit system. Together, our partnership will help newcomers not only build credit, but also make Canada their home with confidence and ease.”
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