Best Advice: RRSP loan.
Most banks will give you an on the spot RRSP loan into one of their mutual funds and they use that as collateral for the loan. The payments come out every month from your account.
This is how I started.....that is the advice the bank gave me when I was 17 and I have done it every year since.
Taking out a loan and paying it back right away tells the credit rating agency nothing about your ability to responsibly pay something back. Start with the above, then get a credit card when you are 18 and these two things will help you establish a great credit rating.
DONT:
-applying for store credit regularly
-applying for credit cards regularly
(these both hurt your rating)
"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered."
-Thomas Jefferson 1802