# Slight Discrepancy on My Credit Report



## Maj34 (Oct 7, 2011)

I'm now in year 5 of turning my financial situation around. I've gotten rid of a boatload of debt, finally struck (or will strike) my goal of maxing out my RRSP limit this year, built a emergency fund, etc. I even saved for a car, rather than financing in any way.

So last night I decided to check my credit score. I had gotten free reports from Transunion/Equifax previously, but this time I wanted the score.

In addition to the score, I noticed some slight discrepancies including:
- My current employer is incorrect
- Some accounts are listed as Open, but they are not (one Visa, and a student loan that was paid off)
- There are variations of my name listed under "also known as"

Should I worry about correcting either of these? Can I even correct the different names? The discrepancy in my name is relatively minor (mostly), although one variation of my name has an extra initial in it - looks like a typo that someone made along the way.

Can I even correct the "also known as"?

Thanks. 
M.


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## indexxx (Oct 31, 2011)

I can't answer your question, but I'd like to ask how you got your score. I requested a report from Equifax, and it just lists my dealings etc. No score.


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## Maj34 (Oct 7, 2011)

Well, you have to pay for it. Perhaps you used the paper request form - and they only give the report portion for this.

For the score you can use their website. Unfortunately, they make it really easy to find their "monthly subscription" version and not so easy to find the "one shot deal" version.

I had to call them and verify my account/info over the phone, and after that, when I logged in, there was an option called "Products" and the single one time report was in there.


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## indexxx (Oct 31, 2011)

Maj34 said:


> Well, you have to pay for it. Perhaps you used the paper request form - and they only give the report portion for this.
> 
> For the score you can use their website. Unfortunately, they make it really easy to find their "monthly subscription" version and not so easy to find the "one shot deal" version.
> 
> I had to call them and verify my account/info over the phone, and after that, when I logged in, there was an option called "Products" and the single one time report was in there.


Ok. Thanks. Seems strange to me that you'd have to pay for your own score. I would have assumed that banks and other financial entities like retail would pay a fee or a license to access people's info, but that it would be free for yourself- it is personal information.


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## the-royal-mail (Dec 11, 2009)

Is it not possible to order the scored version through the mail in the same way you get the free version? I found that process pretty easy, just had to be a bit patient. No score though.


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## marina628 (Dec 14, 2010)

I order ours once a year and it cost $23.00 online .Trans union is $14.95 but a monthly so as soon as I get it I go in and edit the credit card info. A few years ago my husband had his identity stolen so we find this small amount worth paying ,if I had to write a letter and mail it , it would probably sit 6 months collecting dust lol


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## Maj34 (Oct 7, 2011)

I agree that it should be free to get your score - but it isn't. You have to pay. This is covered quite well in the rest off the forum. The only possible way around it is if you have a friend who is a mortgage broker..


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## HaroldCrump (Jun 10, 2009)

Maj34 said:


> I agree that it should be free to get your score - but it isn't. You have to pay.


I disagree that the score should be free.
It is calculated by a proprietary system (FICO) that the CBs have to license and pay for.
The lenders pay for the score calculation.
They won't give it away for free to consumers.
All that we are entitled to is an accurate credit report.


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## Nemo2 (Mar 1, 2012)

haroldcrump said:


> i disagree that the score should be free.


+1 tnstaafl


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## Plugging Along (Jan 3, 2011)

I hate that the score is not free for the consumer, since they are selling my info.

When I get my mortgage renewed i ask them to give me my score.


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## Maj34 (Oct 7, 2011)

HaroldCrump said:


> I disagree that the score should be free.
> It is calculated by a proprietary system (FICO) that the CBs have to license and pay for.
> The lenders pay for the score calculation.
> They won't give it away for free to consumers.
> All that we are entitled to is an accurate credit report.


Agree that the FICO algorithm is proprietary, but it's a formula based on grade 9 (at the most) math. 

But yes, these companies are just like any other with a product to sell, and I'm assuming you are rooting for them for this reason - the belief in capitalism.* I too believe in capitalism, but I also believe that, at some point, things become government controlled (or at least influenced/regulated).

I think that the government must partially agree, since they already force these companies to issue free credit reports via snail mail - a product they would otherwise rather sell I'm sure. 

I'm just suggesting credit score should also be made more accessible to the average debt ridden Canadian; it might serve as a measuring stick that everyone could check, and provide feedback on how a person is doing.

After all, most people are not as tuned in to their financial health as those in this forum!


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## MrMatt (Dec 21, 2011)

Plugging Along said:


> I hate that the score is not free for the consumer, since they are selling my info.
> 
> When I get my mortgage renewed i ask them to give me my score.


The information on you is free to you, companies have to pay for this.
Everyone has to pay for the analysis of that information, including you.

Why do you think you're entitled to a free analysis of this information? 
If it should be free to you, who should pay for it?

If I design an analysis method, why should I be forced to do it for you, for free?


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## HaroldCrump (Jun 10, 2009)

Maj34 said:


> But yes, these companies are just like any other with a product to sell, and I'm assuming you are rooting for them for this reason - the belief in capitalism.* I too believe in capitalism, but I also believe that, at some point, things become government controlled (or at least influenced/regulated).
> I think that the government must partially agree, since they already force these companies to issue free credit reports via snail mail - a product they would otherwise rather sell I'm sure.


Collecting and selling personal information has become such a huge business these days, that the information contained in a typical credit report pales in comparison.
Your medical information and history, your Internet browsing patterns, your shopping patterns, you name it.

In any case, you can't influence your credit score in the short term, at least not significantly.
Say you got your score for free, and it is 680.
What are you going to do about it in the short term?
Close a credit card account? Not sign up for 1 more card?
None of those actions will make a difference of more than a few points.

As long as you review the data in your report routinely for accuracy and follow good credit practices, you should be ok.
Let them play around with the score.

If you are concerned about the data they store about you, that is a different matter altogether.


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## Plugging Along (Jan 3, 2011)

I meant free to the person that the information is about. I don't feel that should have to pay for information about myself. I think because the information is about me then I shouldn't have to pay for it. They are making money with my information. 

If you are taking information about me. And I am the source of tha information, and you are going to make money off of that information, you should have to ask me if that's okay. If not, then at least don't charge me when I want to find out what information you have on me. 

I think companies that want the info about me should pay.


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## dBII (Mar 12, 2013)

I'm a bit on the fence as far as whether it should be free. I still wonder how useful even having a credit report is. I've never been turned down for a loan or cc and my bank is always bugging me to increase my credit limit. "Why don't you BUY something dammit?"


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## james4beach (Nov 15, 2012)

Yes the free credit reports (not scores) are available by snail mail but there are some other methods too

One is with TransUnion, if you live near Hamilton you can just drive to their location, show your ID, and pick up the report.

The other method is through the telephone. I found this to be pretty easy. You phone up their toll free number and start the process through the automated phone system. It will ask you a whole bunch of questions and within a couple weeks you'll have the report. Nothing to mail in!


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## SpendLessEarnMore (Aug 7, 2013)

Guess not many people know that Equifax report and score is free and instantaneous online. Don't have to wait for snail mail. Some are even paying $23 for their score when you don't have to pay anything.

I received 2 of my Equifax report and score free so far this year. It's the Equifax score and not the FICO score banks use but still at least you can track your progress and see what's being reported. Cancelling was surprisingly simple. You just call in to cancel at some call centre in India and say no firmly 3 times to their solicitation.

https://www.econsumer.equifax.ca/trial_en.html


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## MrMatt (Dec 21, 2011)

Plugging Along said:


> I meant free to the person that the information is about. I don't feel that should have to pay for information about myself. I think because the information is about me then I shouldn't have to pay for it. They are making money with my information.
> 
> If you are taking information about me. And I am the source of tha information, and you are going to make money off of that information, you should have to ask me if that's okay. If not, then at least don't charge me when I want to find out what information you have on me.
> 
> I think companies that want the info about me should pay.


The information is free.

When you applied for credit, you gave them permission. 

For example at TD
http://www.td.com/privacy-and-secur...acy-commitments/td-privacy-code/privacy.jsp#f
Other situations where we have your consent

For example, we will disclose your credit history with us to other lenders or credit reporting agencies in order to support the credit process. We release only the information required to identify you, as well as facts from our credit records about your repayment history. We may disclose your account information to a joint account holder, including information about the account prior to it becoming a joint account.


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## james4beach (Nov 15, 2012)

SpendLessEarnMore said:


> Guess not many people know that Equifax report and score is free and instantaneous online. Don't have to wait for snail mail. Some are even paying $23 for their score when you don't have to pay anything.
> 
> I received 2 of my Equifax report and score free so far this year. It's the Equifax score and not the FICO score banks use but still at least you can track your progress and see what's being reported. Cancelling was surprisingly simple. You just call in to cancel at some call centre in India and say no firmly 3 times to their solicitation.
> 
> https://www.econsumer.equifax.ca/trial_en.html


Interesting... doesn't look like it's their usual free report, but just a "trial offer" of their paid product. The web site says $14.95/month after trial period.

Is it possible to do a one-time use of that, and have it totally free without the $14.95/month? Have you done this?


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## alingva (Aug 17, 2013)

Plugging Along said:


> I hate that the score is not free for the consumer, since they are selling my info.


 why do you need it? your score is a summary of different things, and your credit history is one of them. the credit repayment history is the only thing that should be important to you, all the rest is for banks




Plugging Along said:


> When I get my mortgage renewed i ask them to give me my score.


 No, they do not run your credit history at renewal. your score changes every week and sometimes several times a day so the old score is obsolete


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## SpendLessEarnMore (Aug 7, 2013)

james4beach said:


> Interesting... doesn't look like it's their usual free report, but just a "trial offer" of their paid product. The web site says $14.95/month after trial period.
> 
> Is it possible to do a one-time use of that, and have it totally free without the $14.95/month? Have you done this?


it's a trial offer for their credit watch program to notify you of identity fraud and changes to your credit. The credit report and score is the same as if you were to pay for one or get in snail mail except it's in electronic format. Just make sure to cancel within 30 days or they will bill you $14.95/mth. 

I usually cancel in a week. The credit watch is useless to me.


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## james4beach (Nov 15, 2012)

Thanks this looks worth trying. I've been ordering free reports through the phone system and that works too, but if it's going to be free to see it online... might as well do that.


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## Cal (Jun 17, 2009)

Maj34, I had to contact them after I received the free report to make a few corrections, I can't remember how I contacted them, but they took a few weeks to verify everything and then I received a corrected versionin the mail a month or two later.


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## Plugging Along (Jan 3, 2011)

alingva said:


> why do you need it? your score is a summary of different things, and your credit history is one of them. the credit repayment history is the only thing that should be important to you, all the rest is for banks
> 
> 
> No, they do not run your credit history at renewal. your score changes every week and sometimes several times a day so the old score is obsolete


I don't NEED it, it just another piece of information I like to have for my financial health check. I have been able to negotiate terms better when I knew my score. It wasn't the deciding factor in my terms, but being able to tell the bank that you can get a loan anywhere based on an almost perfect credit score, along with the rest of my financial history was helpful. Who knows if it made a difference or not, but it didn't hurt.

In terms of getting my mortgage renewal, I was doing an increase, and so they did a check. I asked for the score whenever I get a new mortgage or increase. I know it changes, but it's not going to be that drastic, so it's good to know. I don't think it changes minute by minute, but if it doesn't it's a marginal difference.


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## alingva (Aug 17, 2013)

Plugging Along said:


> In terms of getting my mortgage renewal, I was doing an increase, and so they did a check.


 It is called an increase, not renewal .
A small tip, when banks check your credit history they have to share it with you but many banks' clerks do not know that and do not do (share) that. When you apply for credit and banks ru your credit check some banks (CIBC) get your credit score, some do not (TD, RBC)


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## alingva (Aug 17, 2013)

Cal said:


> Maj34, I had to contact them after I received the free report to make a few corrections, I can't remember how I contacted them, but they took a few weeks to verify everything and then I received a corrected versionin the mail a month or two later.


 If you have good relationship with your bank and know a financial rep there - he/she can send a request to the credit agency they deal with and fix it on your behalf...banks do not want you to know that option is available for you (of course you have to prove that your credit report has mistakes and not something you did)


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## alingva (Aug 17, 2013)

*CIBC CreditSmart*

Off topic, CIBC has a free feature on their credit cards
https://www.cibc.com/ca/credit-cards/budgeting-spend/creditsmart.html
Notifies you when someone checks your credit report from Equifax


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## james4beach (Nov 15, 2012)

Wow a couple very useful things in this thread!

I'm a CIBC customer and had no idea that credit monitoring feature was free... this is really neat. I'm going to start using it right away (just access it through online banking)
https://www.cibc.com/ca/how-to-bank/personal-budgeting/personal-budgeting-alerts.html

I'll also try out the free online trial linked earlier.

Great stuff, everyone. Thanks


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## alingva (Aug 17, 2013)

james4beach said:


> I'm a CIBC customer and had no idea that credit monitoring feature was free... this is really neat.


Yes, the only thing it does not work in real time, you get an alert 2-3 weeks after someone pulls your credit report. Anyway, it is a good feature to have. It notifies you about Equifax inquiries only


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## james4beach (Nov 15, 2012)

These alerts are impressive, can also send SMS text messages. There are a whole bunch under "Manage My Alerts", two tabs (Optional Alerts and Fraud Prevention Alerts). I set these ones:

My credit report has changed
There has been fraudulent activity on my CIBC Credit Card
A bank machine withdrawal is more than this amount
There is an attempt to exceed my bank machine daily limit

Unusual behaviour has been detected on my Access Card (e.g. PIN failed)
My personal information has been updated


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## sags (May 15, 2010)

I guess I should get to it one of these days.............

I have a lien registered on my credit report for a loan (long since paid in full), on a car (long since gone to the junk yard), by a lender (no longer in business).


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## SpendLessEarnMore (Aug 7, 2013)

james4beach said:


> These alerts are impressive, can also send SMS text messages. There are a whole bunch under "Manage My Alerts", two tabs (Optional Alerts and Fraud Prevention Alerts). I set these ones:
> 
> My credit report has changed
> There has been fraudulent activity on my CIBC Credit Card
> ...


you tried the free trial? Thanks that reminds me I should check my report been 6 months since I last checked it and I've been doing lots of financing with various banks lately.


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## james4beach (Nov 15, 2012)

No that post of mine was about the CIBC services through their online banking. Free to all customers, I think.


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## Maj34 (Oct 7, 2011)

Wow. Glad my thread here surfaced some good information. I just had one more thing to add: These companies (Transunion/EQuifax) offer FREE Fraud Alert services.

I found a PDF that you can print on TransUnion to sign up for it. To find it (one way), type the following in google: 
transunion fraud alert filetypedf

I found reference to the same thing with Equifax, but I haven't found out how to sign up for it just yet. Perhaps you have to call.

I plan to sign up for this service with them both; as I understand it, they will call you and confirm before any credit gets extended under your name. The downside, I guess, is no more instant credit at the counter of a big-chain retailer who offers you a discount for signing up for a credit card. (Is that a downside?)

Anyway, if you're paranoid like me, perhaps because you too are in the middle of an ID-theft scare, then these services might give you some reassurance (without feeling taken advantage of for those ridiculous credit monitoring services).


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## HaroldCrump (Jun 10, 2009)

james4beach said:


> I'm a CIBC customer and had no idea that credit monitoring feature was free... this is really neat. I'm going to start using it right away (just access it through online banking)
> https://www.cibc.com/ca/how-to-bank/personal-budgeting/personal-budgeting-alerts.html
> 
> I'll also try out the free online trial linked earlier.


Very important warning about this "free" offer of credit score in exchange for monthly monitoring service.
If someone is planning to cancel soon after getting the "free" credit score...watch out, the credit agencies aint that stupid - they are far more crafty.

(scroll down to the second half of the page that discusses the credit score scam)
http://blog.ellenroseman.com/?p=1671


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## james4beach (Nov 15, 2012)

By the way, I was able to use the Equifax phone system to order my free credit report by mail (it took 6 minutes through the automated voice system). I used the instructions at
http://www.greatponzi.com/guide/credit_history.html

I tried Trans Union but it didn't work for me because they don't have my most recent address on file.


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## alingva (Aug 17, 2013)

indexxx said:


> I can't answer your question, but I'd like to ask how you got your score. I requested a report from Equifax, and it just lists my dealings etc. No score.


http://financial-articles.ca/view/a...is-calculated-and-how-to-get-your-free-report


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## OhGreatGuru (May 24, 2009)

I am ambivalent. On the one hand your score is a figure they have calculated based on your personal information, and that they are selling to others. It seems to me you should be entitled to know what they are telling people about you.

OTOH I can imagine if they gave out scores free to consumers, they would be deluged with demands to explain why it isn't higher, instead of consumers focusing on the accuracy of the actual credit report.


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## james4beach (Nov 15, 2012)

Just to be clear for others reading this thread, the scores are something different from the consumer disclosures aka free credit history.

So the ones you order for free, by phone (like I just did) or through the mail are just the credit histories... no scores.


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