Receiving a free copy of a credit report is something that everybody can do at least once per year. By Federal law, all citizens are able to request a yearly copy of their credit report from each of the three credit bureaus in Canada. Since there are three bureaus, it is actually possible to obtain a copy on three separate occasions throughout the year. This is a great way to keep track of one’s credit score, which is an important number that can impact one’s success in obtaining car financing and other types of loans down the road. Furthermore, having a good credit score can help a person to obtain financing at a low interest rate.
Getting Your Annual Report
If obtaining a copy of your free annual credit report sounds like something you would like to do in the near future, then there are just a few basic steps that you will need to follow. These include:
- Deciding which bureau to order your report from
- Requesting a copy of your report online or over the phone
- Providing necessary verification of your identity
Your credit score from all three bureaus should be essentially the same, so it will be up to you to decide which specific one you will want to order your report from. The ones to consider are Equifax, Transunion, and Experian. To request your copy, you can do this online or over the phone using the bureau’s toll-free number. From there, you will be asked to verify your identity by providing some personal information.
Receiving Your Report
Depending on whether you wish to receive the report via the mail or electronically, your wait time to actually obtain the copy can vary. Some bureaus will allow you to view your report electronically but will charge you a $1 fee for doing so, so be sure to keep this in mind as you determine which option will be best for you. Furthermore, you may also want to do some reading up on the actual process of reading your credit report properly.