Free Credit Reports Credit Report

A Canadian credit report is a collaboration of credit information, courthouse records and collections accounts, which are kept on file for up to six or seven years. A Canadian credit report records all late payments and bad debts, even if the amount was finally paid in full.

A Canadian credit report contains personal information such as, name, current and previous addresses, Social Insurance Number, telephone number, date of birth, current and previous employers, credit history of paying bills, public records (judgments, bankruptcies, registered items), inquiries, and possibly banking information.

When you apply for credit, a business will use your Canadian credit report to assess your application. They want to know if you’ve repaid your debts on time in the past, in addition to your credit score of today. Your credit worthiness is summed up from a credit rating system and thus decides if your credit card, loan or lease will be granted or denied.

With this type of credit reporting system, credit granters can approve loans and credit within minutes. You can obtain a copy of your Canada credit report through credit bureau’s such as Equifax or Trans Union.

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