Credit Reports

[little miss sunshine]

Looking for some info on obtaining my personal credit report.

 

Where is the best place to do this?

Are online sites reliable sources (ie. transunion.ca)?

How much should it cost?

If an online site asks for my SIN but says it is optional (but will increase the likelihood of being able to obtain my credit profile) should I give it?

 

I'm assuming BOHICA will answer this thread. Help a girl out!

[RicardoObviouso]

rule #1 is that you should know your credit score. you shouldn't have a piece of paper confirm what you already know. if you pay your bills on time and use credit wisely, you have a good score. if you're immature with your credit and lazy with your bills, you don't. requesting and paying for a credit report is the latest scam, it's not necessary and it won't change anything.

 

 

if you don't give a shit about that and just want some gratification on paper: transunion & equifax are the two agencies used to score credit ratings for creditors in canada.

 

if you have a good relationship with your bank, talk to your contact there -- they have the ability to either show you your scores right on the screen OR request a detailed credit check from both agencies. if they don't, call the agencies yourself and request them.

[little miss sunshine]

I know that my credit score must be good but I am just more concerned about making sure there is nothing unexpected on there before I would need to apply for anything such as a house.

 

For example, I signed up for a Bay card like 7 years ago to get $10 off a purchase and then never activated the card they sent me. They never sent me anything else but people tell me even though you don't activate the card, it still exists.

 

I thought about asking the bank lady who has helped me throughout the years with getting my student loans and helping my parents take out the line of credit on the house for me to use for school. If I get nowhere with that you think I should try transunion or something?

[Lauren]

oh god, i'd hate to see my credit report. 20 years old and i'm already fucked.

[ToadMan]

I have excellent credit, it goes with my excellent debt!.

 

This is what I know (some of this might be wrong, so please don't massacre me if it is. In fact, correct me, because I would like to know). If you have your bank check your credit, then that is actually recorded on your credit history. It's not a bad thing, unless you have a few banks check your credit (if you keep getting checked, but nobody gives you anything, then they wonder why).

 

If you have never missed a payment on a credit card or a loan, these are good things. I know that the Royal Bank can actually tell you if they have ever reported a missed payment to a credit bureau (Royal only does this if you are several weeks late on payments).

 

Cell phone companies tend to be the worst at hurting your credit history. I have heard (no evidence to this effect) that they will report a missed payment if you are days late. I don't doubt this of Rogers, as they are evil.

 

In terms of getting loans and other credit, it can be easier if you get an account manager at your local branch. And if you have been borrowing from that bank a lot. When I wanted to consolidate my student debt and car loan into an unsecured line of credit, this was invaluable. My banker was able to use my history with the bank to get me the best possible interest rate, and the maximum loan.

 

If you are looking to get more credit in the near term, it can be good to have your bank do the check, as then they can keep it on file (I know that the Royal Bank can use a credit check up to 3 months old). If you get it outside, and then go to the bank, they will still check your credit.

 

I believe that transunion, and equifax are required to give you a credit report for free. All you need to do is write to them and request it (you can find this on their website if you dig). The online charge is a connivence thing, so basically a way for them to get money from you.

 

That's all I know. I just moved to the USA to work, so now I have no credit at all ;).

[bishopx]

Beth, while the card is there...the fact that it wasn't activated will also be there. Here's the shitty thing about credit, depending on how you look at it. The more you utilize it(credit cards, loans, etc) and pay everything on time, the better it is. As my cousin learned recently, when he went to by a house, untested credit, can be almost as bad as bad credit.

[RicardoObviouso]

unused credit is viewed by creditors on a scale called "exposure to debt: the debt to earnings ratio"

 

if you have a retail credit card that you've never activated, it doesn't make a difference to the creditor because at any given time, it can be... so either use it every once in a while, or cancel it.

 

toad is right when he says that a credit check shows up on your bureau, but it also lists a reason why the creditor was checking your score to begin with. if it shows a bunch of hits from credit card companies looking for a reason to slap a gold card on your desk, it tells a different story than your bank's advisor simply updating you on your status.

 

to answer your question: yes. call both agencies.... or alternately; click the link at the bottom of the page and make anton some cake.

Edited September 24, 2008 by BOHICA

[Moonlight_Graham]

Looking for some info on obtaining my personal credit report.

 

Where is the best place to do this?

Are online sites reliable sources (ie. transunion.ca)?

How much should it cost?

If an online site asks for my SIN but says it is optional (but will increase the likelihood of being able to obtain my credit profile) should I give it?

 

I'm assuming BOHICA will answer this thread. Help a girl out!

don;t know if this will help or not but for some strange reason i have this massive urge to pick up a guitar and tell you in song to go to freecreditreport.com. I have no idea what that means. Maybe it was a dream i had