Why You Need to Know Your Credit Report
>Your credit report
Your credit report is a record of your credit history and an evaluation of your current credit health. This is what bankers, lenders, landlords, mortgage brokers and even employers look at to see if you're trustworthy.
You can look at your credit report, too. Contact Equifax Canada today for access to your up-to-date credit information.
This access gives you power. See your credit report and review it on your terms. Check for errors or red flags. See exactly what your potential creditors see. Spot areas that need improvement.
Examining your credit report closely may also help you spot an identity thief in action at the earliest of stages.
>Your credit score
The great thing about your score is that it’s just that: a number. And what’s great about numbers? Numbers tell hard truths. Numbers let us know where we stand in relation to others. And that’s important when it comes to making a home purchase or applying for a dream job.
When you order your credit report, why not ask for your credit score, too?
>Keep an eye on your credit
Checking your credit report and credit score is useful, but one look doesn't tell the whole story. Both your credit report and score are fluid, dynamic and always changing.
Strange charges or unusual inquiries on your credit report can alert you to an identity thief early on.
Set yourself a schedule and check your credit report every month – or more. You might also consider signing up for a credit monitoring service, which will alert you to changes in your credit profile right away.
>Checking your credit report can save you money
A better credit report and score can open many doors for you. It can help you get better interest rates on your mortgage or a more competitive car loan. Stop identity theft before it happens and you may save hundreds of hours of time lost trying to regain your stolen identity.
You keep tabs on your bank account, your mortgage, your cell phone use – why not your credit file? It's one of the most important parts of your identity and can impact the home you live in, the job you get – almost everything in your personal life.
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