Managing Credit

Financial experts recommend that everyone check their credit report at least once a year.

Building and maintaining a good credit history not only involves paying bills on time, it also requires resolving any inaccuracies 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.

There are many benefits to knowing your credit report:

  • Gain an understanding of the credit process and see what kind of information is tracked.
  • Find out who has been checking your credit history.
  • Learn about ways to improve your credit rating so you can plan for major loans and purchases.
  • Identify if 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.