CREDIT RATING BASICS
Good credit rating is the most important factor in determining whether you qualify for a loan, mortgage or line of credit.
Your credit report contains detailed information on your credit history, including identifying information, credit accounts and loans, bankruptcies and late payments and recent inquiries. Prospective lenders can obtain it (with your permission) to determine your creditworthiness.
Why you should know the details of your credit report:
- You will gain an understanding of the credit approval process and see the types of credit information companies track.
- You will see who has checked your credit history.
- You can learn how to manage your credit report.
- You can identify any inaccuracies that may exist on your report and take action to have these corrected.
GETTING YOUR CREDIT REPORT
For a fee, you can gain immediate and secure access to your credit report by visiting Equifax Canada or Transunion.
To obtain your credit report at no charge via Canada Post, call Equifax Canada at 1-800-465-7166 or Transunion at 1-800-663-9980.