Get to know your credit report

Benefits to knowing your credit report:

• Gain an understanding of the credit process and see what kind of information is tracked
• Discover who has been checking your credit history
• Learn ways to improve your credit report so that you can plan for major loans and purchases
• Determine if identity theft or fraud has taken place by inquiring about unusual purchases and defaulted payments you know you didn't make
• Resolve any inaccuracies that appear on your report and improve your credit rating as a result

Financial experts and lenders recommend that everyone check their own credit report at least once a year. That's because building and maintaining a good credit history not only involves paying all your bills on time, but also requires resolving any inaccuracies that might appear on your credit report.

Equifax Canada Inc. receives your credit information directly from the financial institutions and retail outlets you use. The information is compiled in a credit report that lenders refer to whenever you apply for credit or loans. Lenders look at whether you made your payments on time and consistently.