Check Your Credit Score Annually

Most North Americans no little or nothing about their current credit rating. What is your credit file and how did it get there?

Every time you apply for credit either through a credit card company or if you apply for a mortgage, buy new furniture on the don’t pay for 5 years plan, the banks, financing companies, credit card companies etc. send specific information about the transaction to the credit reporting agencies. This credit file contains all the information about your credit activities that companies have send in.

So why do you need to review your credit report annually? Because companies make mistakes when they send information in to these credit collection companies and this misinformation could be very damaging to your personal credit rating.

This alone is the major reason to check your credit score regularly.

Who has access to your credit file?

No one can access your personal credit report or file without your consent. Each time someone pulls your credit file, a note is made on the file to track this.

People can only have access to your credit file for the following reasons:

• Applying for some form of credit – card, loan etc.


• Debt collection


• Housing rental


• Applying for employment


• Applying for insurance

How to obtain a free credit report:
You can obtain your free credit report 2 ways. Is a free online credit report available?

There are a number of companies that will try and offer a free online credit report. Credit Report Score:
Every item of credit history is given a score or rating by the credit grantor. Lenders want to lend their money out or extend your credit.