[et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”4.17.4″ custom_padding=”0px||0px||false|false” top_divider_style=”ramp2″ top_divider_color=”#E7DFF3″ top_divider_height_tablet=”” top_divider_height_phone=”” top_divider_height_last_edited=”on|phone” bottom_divider_color=”#5b25af” bottom_divider_arrangement=”above_content” bottom_divider_height_tablet=”80px” bottom_divider_height_phone=”50px” bottom_divider_height_last_edited=”off|desktop” da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||” column_structure=”4_4″][et_pb_column type=”4_4″ _builder_version=”4.19.1″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_column][\/et_pb_column][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.20.2″ _module_preset=”default” top_divider_color=”#E7DFF3″ bottom_divider_style=”curve2″ bottom_divider_color=”#5B25AF” bottom_divider_height_tablet=”80px” bottom_divider_height_phone=”50px” bottom_divider_height_last_edited=”on|phone” da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.17.4″ _module_preset=”default” custom_padding=”||5px|||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.27.2″ _module_preset=”default” header_line_height=”1.1em” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n
By Julie Jaggernath<\/em><\/p>\n Do you ever wonder what is on your credit report? We all know that when we want to borrow money, the lender will ask us to consent to a credit check. This check will provide the lender with information about the credit we currently have and how we\u2019ve used it. But there\u2019s also an additional piece; the credit score. It\u2019s a 3-digit number that lenders use to determine the likelihood that someone will repay the additional money they borrow. While you might be curious about your credit score, it\u2019s the least useful piece of information to obtain about yourself. If you ensure that your credit reports are accurate and complete, and that you\u2019re paying your credit obligations as agreed, your credit score will take care of itself.<\/p>\n To find out if your credit report is accurate, you will need to request a copy of it from each of Canada\u2019s credit bureau companies \u2013 Equifax Canada and TransUnion Canada. Your credit report might differ from one company to another because it is up to a creditor who they want to report your credit activities to. Most of the main creditors report to both companies, but there are many lenders who only report to one company. The company they report to is also the company from whom they obtain information about your credit behaviour if they pull your report.<\/p>\n When it comes to verifying that the information is up to date, keep in mind that it only gets updated when you apply for credit. If you haven\u2019t applied for new credit in the past few years, but have moved house during that time, your old address will still be the one they have on file.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ make_equal=”on” custom_padding_last_edited=”off|tablet” _builder_version=”4.17.4″ width_tablet=”80%” width_phone=”80%” width_last_edited=”on|phone” custom_margin_tablet=”||-35px||false|false” custom_margin_phone=”||-35px||false|false” custom_margin_last_edited=”on|phone” custom_padding=”||5px|||” custom_padding_tablet=”||0px||false|false” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.16″ animation_style=”slide” animation_direction=”left” animation_intensity_slide=”2%” custom_css_main_element=”margin: auto;\t” global_colors_info=”{}”][et_pb_image src=”https:\/\/nomoredebts.org\/wp-content\/uploads\/2021\/09\/good-credit-report_2colm.png” alt=”Making financial decisions without much financial literacy.” _builder_version=”4.21.0″ border_radii=”off|200px|20px|200px|20px” box_shadow_style=”preset2″ global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.16″ global_colors_info=”{}”][et_pb_text _builder_version=”4.21.0″ custom_margin_tablet=”45px||||false|false” custom_margin_phone=”45px||||false|false” custom_margin_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n The easiest way to get your credit report for free is through the online portal of each company. Equifax provides a free online credit report and credit score<\/a> and TransUnion provides a free online credit report which they call a consumer disclosure<\/a>. The information you enter must match the information they have on file. If it doesn\u2019t match, you may want to contact the bureaus by phone:<\/p>\n Requesting your own credit bureau report is not a negative strike against you in any way. It\u2019s actually important to check it at least once a year and during transition times in your life. Whether you get your credit report online or by mail, it will also include instructions for what to do if any of the information isn\u2019t accurate.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.17.4″ _module_preset=”default” custom_padding=”||49px|||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.24.2″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n Once you receive a copy of your credit history report, it will contain explanations to help you understand it and instructions about updating or disputing mistakes and outdated information. The Government of Canada has also published a guide called Understanding Your Credit Report and Credit Score to help Canadians understand how the credit reporting system in Canada works<\/a>. It contains all sorts of helpful information, including how long information stays on your credit report<\/a>.<\/p>\n When it comes to your credit score, it changes often and there are set factors that influence a score<\/a>. These are found on your credit report which is another key reason to ensure that it is always accurate. Understanding the basics of credit scoring<\/a> helps you understand what you can do to improve your score. It\u2019s an important number when you\u2019re applying for credit, but don\u2019t obsess over your credit score<\/a>. There\u2019s much more to maintaining your financial well-being than a 3-digit number.<\/p>\n 7 Things That Are Not on Your Credit Report<\/a><\/p>\n If you are a tenant and plan to apply for a new rental, get a copy of your own credit report before you consent to any credit checks<\/a>. If there is something on your report that needs to be corrected or explained, it\u2019s best to deal with that before your future landlord finds out via the credit history report they obtain about you. It\u2019s usually not worth bringing a copy of your own credit report along to a property viewing, but landlords who don\u2019t know how to check someone else’s credit might ask for it.<\/p>\nCheck that Your Credit Report is Accurate and Up to Date<\/h2>\n
Request Your Credit Report for Free Online<\/h2>\n
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What to Do If You Find Mistakes on Your Credit History Report<\/h2>\n
Understanding Your Credit Score<\/h2>\n
Should a Potential Tenant Request Their Own Credit Report?<\/h2>\n