You have the right to see your own credit report. And there are ways you can order it for free.
It is a record of your past and present use of credit cards and loans. Mobile phone and Internet accounts may be included, even though they are not credit accounts.
It includes details about your bill payments and your personal information.
The two major credit reporting agencies that keep your information on file are Equifax Canada and TransUnion Canada.
It can mean the difference between getting approved or refused when you apply for credit cards, mortgages and other loans. If you have a poor credit history, you may have to pay more to borrow money.
It can also affect your ability to rent housing or get hired for a job.
You can check your credit report to see if someone else has tried to steal your identity and open credit cards and other loans in your name.
Check your credit report at least once a year. Review it carefully for errors and signs of identity theft.
Order your credit report from both credit reporting agencies. Consider requesting your report from one agency and then waiting six months before you order from the other agency. By spacing out your requests in this way, you may be able to detect any problems sooner.
It is not the same as a credit report. A credit score is a three-digit number produced by a mathematical formula using the information in your credit report.
Ordering your own credit report has no effect on your credit score.
Your free credit report is called a “credit file disclosure” by Equifax Canada and a “consumer disclosure” by TransUnion Canada. It does not include your credit score.
To get your credit report free of charge:
If you choose to access it online, you will have to pay a fee.
To order by mail or fax:
To order by telephone:
To order in person:
If you want to receive your credit report right away, you can pay a fee to get it online.
There is a fee to order your credit score from the credit reporting agencies.
Be wary of other organizations that offer free credit scores. To get the “free” score, you may have to sign up for a paid service. Fraudsters may offer free credit scores in an attempt to get you to share your personal and financial information.