Did You Order Your Credit Report Canada? It’s Free There’s No Excuse!

When I asked if you had ordered your credit report or if you knew what was on your credit report the answer was an astounding, no. Most of you had no idea how to go about ordering your free credit report in Canada. Some of you didn’t even care about seeing your credit report and that’s fair some people truly don’t care but for others it may be very important. I asked my Facebook community about their credit report and was surprised to learn that most had no idea where to turn. I asked this to gauge an understanding of whether they knew everything they needed to know about their finances.

You see, I want Canadians to realize that we should be budgeting our money and spending less than we earn. This entails knowing all about your financial health and understanding what kind of spender you are. Sure being frugal, using coupons, shopping at second-hand clothing stores is all fine and dandy. The reality is if we don’t know where we are at financially how are we able to plan for our future?
Why Should You Order Your Free Credit Report?

An annual credit report is a record of your credit activities in Canada. If someone does a check and your credit score it not up to snuff you may not get that purchase you want. If you are an online shopper you may want to check to make sure all your purchases were in fact secure. Please note that the credit report is free but in order to obtain your actual score you will have to pay a fee. It saves you all the hassles down the road if you take care of them today.

When I moved to Canada from the UK as a permanent resident I had ‘ZERO’ Canadian credit history and it plain out sucked. I was a far cry from even touching a good credit score of 700. It didn’t matter how much money I had no score means no credit- full stop. I’m not sure how it happened though but Sears was so kind as to give me a $500 MasterCard which I guarded with my life. I then used that credit card for everything and paid it off at the end of each month. My goal was to start building a credit history so we could start our lives together.

Without a Canadian Credit History I was unable to:
  • Get a Mortgage or rent
  • Get a bank credit card
  • Lease/Buy a car/truck
  • Bank Loan
  • Line of Credit

In some cases when reasonably required you may be asked in a  job interview for a credit check ex: one where you may be privy to credit card/financial information of customers. Read here why TD Canada Trust does a credit check on all prospective employees. The list goes on and on so I was pretty much stuffed and had to set some long-term goals. Although my wife had lived in Canada all her life I still needed to establish myself. Over the years my credit had increased dramatically and I was a happy as a pig in manure. Then my wife wanted us to order our credit reports to review them. I had no idea what she was going on about but I obliged.

She wanted us to go over our reports to make sure no one was using our name for credit that was not authorized, called Identity theft. Here’s four things Identity thieves don’t want you to know. It’s part of our vision and planning for our future. Making sure all avenues are checked off so no surprises hit us in the process of life. Some of the most common questions I get asked now are how do I get a free credit report and what is the difference between a credit score vs credit report. The great news is there are a few ways to order your free credit report.

What is a good credit score and what impacts your score? 

Equifax says credit scores fall between 600-750 and anything above 700 is good.

Where to order your Free yearly Credit Report:

The top credit report agencies are Equifax, Trans Union and  Experian in Canada.

Here are some FAQ’s from Equifax.

Credit Scores

If you don’t have any time to wait the 5-10 days to receive it free by mail you can opt to pay for your credit report for instant access through TransUnion.

The cost for this service is: (Note: these prices are subject to change from the time this post was written)

  • Trans Union Credit Profile $ 14.95
  • Credit Score $7.95
  • You can order your Equifax Credit Report online for immediate access for only $19.95

You can learn all about Canadian Credit Bureaus here. Don’t wait until you want to make a big purchase or get the perfect job after graduation and get surprised. Protect yourself, protect your identity, protect your credit. Order your credit report once a year, I’m glad we do. There’s no excuse Canada-It’s FREE!!! All you have to do is fill out the form.

It's Not About How Much Money You Make It's How You Spend It

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Photo Credit: Credit History

 

Mr. CBB
I’m from the UK and now a recent permanent resident in Canada. I bought my first house at the age of 21 after University then my second at the age of 24. I’ve always been fascinated with personal finance, savings, learning to make money and watch it grow while combating debts along the way. Canadian Budget Binder is a place where I get to share my experiences with personal finance and learn about yours along the way. I hope you stick around and check me out on Twitter, Facebook and Pinterest where I am active on all social media sites. Cheers, Mr.CBB
Mr. CBB
Mr. CBB

Comments

  1. mycanuckbuck says:

    You raise a very good point. I started trying to get mine (and my husband’s) once a year, once identity theft started to make the news. I am impatient and just do the online route – the frugal choice would be to do it by snail mail!

    • I would be terrified to find out that identity theft had happened to me. No matter what way anyone gets the report it should be visited from time to time to make sure everything is ok. Thanks for your post mycanuckbuck Mr.CBB

  2. Credit Keeper says:

    Great article! I loved the insight and advice given. In addition, your blogging style is very fun to read. If you have enough time kindly check out my new blog and let me know what you think.

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