The findings suggest that the struggle is less about a lack of knowledge and more about a crisis of access and confidence. Although 45 percent of Canadians are actively working to build their credit, 29 percent describe the process as difficult. A significant portion of the population remains stuck in a cycle of hesitation: 22 percent know what steps to take but fail to follow through, while 18 percent are unsure where to begin.

This frustration is particularly acute among younger generations and lower-income households. Roughly 62 percent of Canadians believe the current credit system is designed exclusively for those who are already financially stable, a sentiment that jumps to 71 percent among Gen Z. These perceived barriers have tangible consequences, with many Canadians delaying major life milestones—such as buying a home, financing a vehicle, or starting a business—due to fears that their credit profiles will not qualify.

Peter Kalen, CEO of Money Mart, notes that the solution lies in providing practical, accessible options rather than simply offering financial literacy. Internal data from the lender suggests that when individuals are given clear pathways, such as transitioning from payday products to installment loans, they can achieve measurable gains. In a study of customers in Alberta and Manitoba, 91 percent of those who started with scores below 560 successfully improved their standing through consistent, on-time payments, resulting in an average increase of 68 points.