# Credit Report



## CuriousReader (Apr 3, 2009)

I heard that you can get a free credit report, once a year? Where can I get such free credit report?

Is it generally a good idea to periodically get your own credit report? How many of you does this or do most of you never bother to check?


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## Shayne (Apr 3, 2009)

You can get a free credit report from Equifax and Transunion.

http://www.equifax.com/contact_us/en_ca look to the right side of the screen and you can phone or fax.

http://www.transunion.ca/ca/personal/creditreport/consumerdisclosure_en.page at the bottom.

It is important to check it yearly to ensure that the information is accurate and up to date. I check at least yearly.


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## PMREdmonton (Apr 6, 2009)

I check every year to ensure there are no errors.

It won't give you your credit score but so long as you have been good at paying loans, bills, etc. you will have a good credit score.

I do believe you can purchase your credit score online if you are really interested in knowing.


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## Alexandra (Apr 3, 2009)

Note that the FREE report is the one that is mailed to you. If you need to know right now, you can pay for the report and you get it right away.

As far as I can remember from last year, you don't get your actual credit score. What you get is a list of all your creditors, the status of your accounts, and the amounts of your loans, etc. This is invaluable in checking for identity theft - something that should be done each and every year. It also helped me to close off a few accounts that had been dormant for years, but had not been officially closed.


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## ice1124 (Aug 21, 2009)

The bad thing is that the free reports take a few months to arrive. It took about three months for me to get mine.


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## Berubeland (Sep 6, 2009)

When i ordered mine it took a few days only, the system is automated and easy.


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## Alexandra (Apr 3, 2009)

Mine also only took a few days for them to mail it out.


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## CanadianCapitalist (Mar 31, 2009)

ice1124 said:


> The bad thing is that the free reports take a few months to arrive. It took about three months for me to get mine.


I can't recall exactly how long it took but it is usually 1 or 2 weeks. Is it usually three months or did it happen just one time so far?


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## friscoruth (Sep 16, 2009)

This is a good resource to get to all the credit agencies to request your reports.

http://www.spendonlife.ca/guide/how-get-your-free-credit-report

You will have to pay to see your scores though, if you are thinking about buying a house or car and have no idea it is probably worht the few buck to find out the range your score is in. Those one or two late payments a year ago that you have forgotten about are probably hurting more than you think.


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## krackerjack121 (Apr 4, 2009)

*Credit Scores*

Credit Scores. 

It is my understanding that if you close a VISA or Line of Credit. That this will hurt your credit score because it shows that you show less time having your debts in place.

Having said that I have a general question for the forum. I just opened a new line of credit with BMO. And I no longer need the one that I had at TD Canada Trust. I went in and tried to get them to match was BMO was offering, but they wouldn't budge. Anyways, I now have to make a choice, if I should close the TD Canada Trust Line of Credit or just ask for a reduction in the amount of money available to me. I also, have a VISA with TD Canada Trust that I never use anymore. So same question for that. 

I have had my Line of Credit for just about 10 years and my VISA for just over 6 years.

Thanks,

Rocky


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## cautiousone (Jun 9, 2009)

I've only purchased my credit report online, never through the mail. I purchased my credit rating online only once because there's been no change to my credit situation. What bugs me about the free credit rating that can be ordered and mailed out, is that a S.I.N. is required. Given the issues with identify theft, I can't understand why any agency, including the Gov. of Canada is still permitted to send out ANYTHING that includes one's S.I.N. Does anyone else question this or am I an old curmudgeon!


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## savemoney (Dec 2, 2009)

krackerjack121 said:


> Credit Scores.
> 
> It is my understanding that if you close a VISA or Line of Credit. That this will hurt your credit score because it shows that you show less time having your debts in place.
> 
> ...


Closing a current credit card account or LOC remains on your credit history for 6 years from the last date of activity. If you have used it and made timely payments/paid it off, then the status on your report for the LOC should indicate comments such as "Paid as agreed and up to date". That said, if you can get a better rate from elsewhere, then why not close the original LOC and go with the new one? 

On a side note, have you also looked at your FICO score? That is another component lenders use to assess an applicant's risk of default when granting credit.


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