Avoid fake free offers. Get Credit Reports the Canadian way!

Filed in Credit Monitoring by on October 12, 2017 0 Comments

I’ve been in this business a long time and the question that comes up the most is where can I get my credit score or report?

Credit reports contain information about your bill payment history, loans, debt, late payments and other financial information. They show where you work and live and whether you’ve been delinquent on your loans, report to credit collections agencies or have gone through bankruptcy.

Credit reports help lenders decide whether or not to extend you credit or approve a loan, and determine what interest rate to charge you on your mortgage. Prospective credit card companies and rental apartments may also look at your credit report.

For Canadians, it’s almost an entirely different ball game. You’ve probably searched all over the internet for information on how to get your credit report and are frustrated with the many free credit report sites that promise one thing and do another.

There are also many sites which offer free credit reports from two of the major credit bureaus, TransUnion and Equifax promising no catch and no gimmicks. But please beware! Many of these sites lead you astray and end up taking your money and giving you junk in return – essentially a credit repair scam.

Also, if you pay attention closely, most of these sites offer credit reporting services to US Citizens and not Canadians. The price that is quoted to you is in US dollars and the entire transaction is done in US. This will only end up costing you $$$.

As Canadians you have 3 report options: Pay for your credit report, get it from the bank or submit a letter to get a free report by mail. Consider all other offers as fake.

If you decide you can’t wait to get your report by mail. TransUnion credit bureau currently has a promotion allowing you full access to your credit history and score for only $1. This is my recommendation to all Canadians.

TransUnion will ask you for personal information for verification and you will be charged $1. No other fees. The only catch is that if you don’t like the credit monitoring service they provide, you simply call-in and cancel before the trial period is over.

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About the Author ()

Pat Drummond is the author of Credit Reports Canada and considered by many to be one of the leading experts on productivity and simplicity in relation to financial planning. He started this online credit score & reporting site to chronicle and share what he’s learned in over 20 years of counseling families and individuals on debt management, obtaining loans and improving credit scores.

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