Anytime you apply for a mortgage, whether it be when you’re buying a home, or re-financing your existing home, the lender will do a credit check on you.
In Canada there are two main credit bureaus that keep your credit information, Equifax and TransUnion. You should check your credit report history with both of these on a regular (yearly) basis. It’s one of the easiest ways to protect your credit score, and it’s FREE.
Getting it FREE
To get your credit report for free, you simply fill out a request form, and mail it in to the credit bureaus along with 2 pieces of government photo ID. This is done via Canada Post, and should arrive in the mail in 5-10 business days.
- Equifax Home Page: http://www.consumer.equifax.ca/home/en_ca
- Direct link to the request form: http://www.equifax.com/ecm/canada/EFXCreditReportRequestForm.pdf
- TransUnion Home Page: http://www.transunion.ca/
- Link to Request Form: http://www.transunion.ca/ca/personal/creditreport/consumerdisclosure/mail_en.page
- Direct Link to the request form: http://www.transunion.ca/docs/personal/Consumer_Disclosure_Request_Form_en.pdf
When you receive your report back, have a look through and make sure the accounts reported are accurate. Report any inaccuracies to the credit bureaus, and keep your credit score healthy.
If you don’t want to wait for the report, you can also process the request online, however, there will be a fee associated with getting it that quickly.
If you find a mistake
If you find a mistake, contact the credit bureau and the lending institution right away and get it sorted out so that your credit report is accurate.