How to Get My Credit Report in Canada

While there may be a cultural divide at times between the United States and Canada, the countries have one similarity: credit reports. Canada has the three credit bureaus of Experian, TransUnion and Equifax, just like the U.S. does. They also work the same way in providing your credit report for free, assuming you don't mind getting the report by snail mail. If you want to get an instant credit report by email, you'll have to pay a fee. Instructions...

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How to Obtain a Credit History

Applying for financing and being denied due to no credit history is frustrating. You need credit to build a good credit history. However, some creditors won't issue credit to people with little or no credit. The key is knowing what types of loans to get with no credit. Several options are available to help you get credit and obtain a good history. And once you acquire credit, regularly checking your credit history by ordering your credit report is...

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Credit Repair Information

You may see ads promising to repair your credit for a fee. Although they may sound tempting, you can repair your credit yourself rather than pay someone else. You are entitled to a free copy of your credit report annually from TransUnion, Equifax and Experian, and you can use those reports to start the repair job, which involves challenging certain information on your report and managing your credit wisely. Incorrect Items You can dispute...

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How to Boost Your Wife's Credit Score

Your credit score, or FICO score, is essential for opening accounts, borrowing money, getting low rates and sometimes being hired for a job. A credit score looks at your credit report to evaluate your financial health and responsibility with money with a single number from 350 to 850, with 850 being the best. Applying for joint accounts and loans with your wife can lead to a decline if your wife's score is low even if yours is high. You can boost...

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How to Obtain a Free Credit Report & Score

It is important to regularly monitor your credit report and score. Your credit report helps you catch anyone who steals your identity. It will show you information for all of your accounts. Your credit score indicates the amount of risk you are to a lender. The higher your score the better interest rates you will qualify for. Checking your score will give you the opportunity to raise it before you apply for a mortgage or another loan. Instructions Credit Report 1 Go to AnnualCreditReport.com to obtain your free copy of your credit report....

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Can You Figure Out Your Credit Score From Your Credit Report?

Purchasing a FICO score can get expensive, because you need to buy one from each agency to know how lenders really view you as a risk. It also is not included in your free annual credit report. If you just want to know whether you are generally a good or bad risk and do not care about the specific score, you can estimate it for free. Identification Several FICO score estimators abound on the Internet, one even from the Fair Isaac Corporation itself -- designer of the FICO score. Jim Wang, financial expert and owner of Bargaineering claims...

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How to Challenge the credit bureaus

Credit bureaus exist for the purpose of being non-biased entities that report credit experiences of it's subscribers. A subscriber is a creditor that supplies the payment history and account details of it's customers to the credit bureaus. The credit bureaus are required by law to investigate reported items that consumers dispute. Instructions 1 Conduct an online search for the addresses to Equifax, Experian and TransUnion. Perform a Search using Google, Yahoo or Msn to get the contact information and addresses to the three major credit...

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What Information Do You Need to Run a Credit Check?

Anyone who extends credit to consumers and/or other businesses as well as those who are renting out space on a property will likely want to run a credit check on their prospects. This will reveal a lot about how financially responsible a person is and whether you would like to extend a line of credit to him. Running a credit check is fairly simple but the steps must be followed carefully. Permission You must always ask permission before...

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What Credit Card Raises Your Credit Score Faster?

Credit scores are dependent upon a number of factors that can be influenced by how you use your credit cards. The card itself will not be a magic bullet in increasing your score, though. How you use each particular card is the key. Credit Scores Credit scores are based upon several different factors, including: payment history, amounts owed, length of credit history, new credit and types of credit used. Any credit card that influences these...

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How to Remove Negative Credit Letters

The Fair Credit Reporting Act gives you the right to challenge any negative information on your credit report. However, don't expect to magically erase charge-offs, collection accounts and judgment entries. If the information is inaccurate, it will be removed from your report within 30 days after you challenge it. If it's all true, it'll likely remain for the seven-year maximum required by law. However, there is one option for erasing negative information...

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How to Obtain Credit Reports Online

The Fair Credit Reporting Act requires that the major credit bureaus in the United States provide consumers, upon their request, one free credit report every 12 months. The three credit bureaus affected by this legislation are TransUnion, Experian and Equifax. You should check your credit report once per year to make sure the information it contains about your financial past is accurate. Though credit bureaus have safeguards, errors do occur, and...

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How Can I Clear My Credit Report?

Credit reports contain comprehensive information regarding the way you have handled your past credit. Negative credit information remains on your credit report for a minimum of seven years. The more negative information you have on your credit report, the lower your credit score goes and the harder it is for you to obtain credit. While it is impossible to clear you entire credit report, there are ways to remove incorrect entries. Ordering Credit...

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The Best Ways to Fix Bad Credit

If you are one of the many Americans suffering from bad credit in this economy, you need a legitimate, proven method to fix your credit. Although improving your credit might take some time, it is possible. You should not give up on improving your credit; begin by making minimum payments on time. Raise Your Income If you have bad credit, you can begin to fix it by pursuing a higher income. Pick up side jobs, and pursue that raise. When the...

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Line of Credit Effect on Credit Score

Lines of credit can change a person's credit score, either for the better or for worse. Lines of credit are forms of consumer credit, and thus they impact both your credit history and the credit scores based on them Basics A line of credit is an unsecured loan offered to a consumer at a specific amount and interest rate. These are most commonly offered by consumer credit institutions like banks and credit unions. Credit Scores Credit...

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What Do You Get on Your Credit Report?

A credit report allows you to check your credit history to make sure your report is accurate. Three credit reporting firms issue you a credit report. These firms are Equifax, Experian, and TransUnion. You can request a free credit report once each year from each of the companies. Your credit report will not include your credit score. Identifying Information Your credit report has a section that verifies your identity. This should include...

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Does Your Credit Score Change When You Get Married?

Marriage is a union and each spouse must learn to take the good with the bad. Sometimes the "bad" is a poor credit score. A person's credit score is one of the critical factors banks and other financial institutions use when determining whether to loan someone money. Your spouse's credit rating could have an affect on yours, depending on how your finances are structured. Marriage and Credit Scores Couples often open joint bank accounts and make joint purchases when they marry. The joint accounts and joint debt could have an affect on each...

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Credit Repair Advice

Credit repair involves rebuilding your FICO score. You may need to repair your credit from a bankruptcy or foreclosure, which can stay on your credit report for up to 10 years. You may need to repair a credit history riddled with late payments. Regardless of your situation, credit repair can take time and effort. Talk to your Creditors If you are still a customer of your credit-card company, the first step in credit repair might be to talk to creditors. While creditors usually will not remove a record of debt settlement or default, they...

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How to Improve Credit After Bad Credit Drops Off

If you took out credit cards and did not pay your bills, you might have a serious problem with your credit score. It is important because it dictates the loans and credit that you can get, which might be important for buying a house or helping your children with their tuition. Focusing on improving your credit can make a significant difference in the loans and credit that lenders might offer you. Instructions 1 Pay every bill on time. Hopefully,...

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The Impact of a Credit Score

If you're applying for a mortgage, auto, business or personal loan, you'll need a good credit score to both gain approval and to qualify for the lowest interest rates. That's why it's so important for borrowers to pay their bills on time, cut their debt levels and avoid bankruptcy. Life with a bad credit score can be a challenge today. Qualifying Higher foreclosure rates have made lenders skittish. Many lenders will not give out loans...

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Effect of Balance Transfers on Credit Score

Balance transfers are one way to consolidate debt and lower interest payments. They can also affect several components that are used in determining your credit score. This score is an indication to lenders of how reliable you are and can have a huge impact on your long-term savings for large loans such as mortgages. Before transferring balances, evaluate how it will impact your credit score and determine if the savings are worth it. Payment History...

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Credit Report Score Factors

Even though your credit report score can vary between the three major credit reporting bureaus, most credit scoring models use the same information to determine your credit score. The weight each bureau attaches to specific types of credit information is the reason why your score can vary between bureaus. Credit scoring by the Fair Isaac Corporation, commonly referred to as a FICO score, is the most widely used by lenders. Payments Making on-time payments is most often the largest credit score factor. Your payment history comprises 35 percent...

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How to Build Positive Credit

Consumers with bad credit pay more for everything, from high interest rates on loans to expensive auto insurance premiums. This often leads to a cycle of dependence on sub-prime products such as payday advances and high-interest auto loans, if you can qualify for a loan at all. You will break this cycle if you commit to giving your credit report a full "makeover," which requires a combination of perseverance, patience and time. Instructions ...

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How to Boost Your Credit Score by Paying a Credit Card Balance Early

Approximately 30 percent of your credit score is based on the amounts you owe on all of your credit-related accounts. One factor is the ratio of the balance shown on your most recent credit card statement to the credit limit on the card. The lower the ratio, the higher your credit score will be. Improve your score by paying down a balance you carry before you have to or paying a large monthly bill early so the statement will show a low balance. Instructions 1 Call the phone number on the back of your credit score to speak with a customer...

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When Do Credit Bureaus Update Their Information?

In reviewing credit reports many consumers wonder why the information in the report differs from their own financial records. The answer is usually timing, although sometimes there may be errors. While checking credit reports frequently for accuracy is recommended, understanding when the credit report is updated and the elements in the report that can be changed is also important. For example, paying off a loan after a series of late payments will...

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Do Utilities Report to the Credit Bureaus?

An easy way to improve your consumer credit score is to establish a history of paying your utility bills on time and at the full amount requested. Your utility company is eligible to report bill payment history to the three major consumer credit bureaus, TransUnion, Equifax and Experian. Identification According to a consumer alert published by the Michigan Public Service Commission, "A utility company is a creditor eligible under federal guidelines to report bill payment histories of its customers to credit reporting agencies." However,...

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How to Build Credit Faster Without a Cosigner

Cosigners are helpful for building credit because they make it easier to qualify for credit cards and loans. People with poor credit scores or a short credit history can sometimes qualify for virtually any type of credit purchase with a cosigner -- even a new automobile or house. However, it is possible to build credit fast with without a cosigner. Building your credit without the help of a cosigner will offer a sense of personal satisfaction as you take complete responsibility for your finances and credit. Instructions 1 Open two secured...

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Easiest Way to Improve My Credit Score

Examine your finances and credit history to determine the easiest way to improve your credit score. For example, people who aren't deeply in debt can raise their scores by using their credit cards, but people who have maxed out their credit limits should focus on paying down debts to raise their scores. Payment History According to the Experian credit reporting company, late payments have a major negative effect on consumers' credit scores. Therefore, the easiest way for late payers to improve their scores is by consistently making payments...

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FICO Score Credit Report Repair

Credit reports and credit scores give lenders insight into your credit patterns. Having a bad score often indicates you have credit issues and means you're less likely to get approved for new credit. Regardless of the contents of your credit report and your FICO score, you can fix a bad score and become a prime applicant if you put in the work needed. Importance of Organization Being disorganized can play a role in bad credit. Statements arrive in the mail, and if you're unorganized, you may forget to write down your due dates or make payments...

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What Bills Report to Your Credit Report?

Some of the most important monthly bills, such as utility payments and rent, never appear on a consumer credit report. Credit reports only display information that reflects your ability to manage a loan or credit. Even if all of your bills do not appear on your credit reports from the three major bureaus -- EquiFax, TransUnion and Experian -- they can still factor into your financial profile. Identification The credit score used by most lenders only includes installment loans such as an auto loan and student loan and revolving credit like...

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When Can a Debt Come Off My Credit Report?

Outstanding debt on a credit report is not always a bad thing, because you can usually wait until the credit bureaus no longer report it. However, you cannot escape all bad debts, so paying them could be a better alternative to having it dragging down your score for the rest of your life. You also have to watch out for creditors or collection agencies, because they may try to get you to claim an expired debt. Identification When a debt comes off your credit report depends on its status. A charge-off or account in collections stays on your...

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Things You Need to Build Credit

To get credit, you need credit, but what if you don't have credit? While lenders want to see a credit history before they approve you for a loan or credit card, you can still secure certain types of loans and credit cards with no credit. That's fortunate for anyone who wants to build credit, because credit cards and loans are necessary credit-building tools. Understanding Credit Your credit worthiness is expressed as a credit score. A credit score ranges from 300 to 850, with 300 being the worst. However, anything below 620 is usually considered...

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How to Improve Your Company's Credit Rating

Similar to credit reporting on consumers, the credit status of businesses is also tracked. Information on your company is reported through its financial activities with banks, government records and suppliers. When applying to a new supplier for terms, or to a bank for a loan, your company's credit standing will be reviewed and it will determine if you get those Net 30 terms from the new supplier, where payment is due 30 days after product is sent...

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How to Obtain a Credit Check

Regularly reviewing your credit report enables you to keep your credit rating up-to-date. Obtaining a credit check is easy, but should only be done occasionally. Getting a credit check means applying for a line of credit to see whether creditors deem you credit worthy. Your credit score will drop if you your credit file is checked too often. Instructions 1 Use an existing credit card issuer to obtain a credit check. As you have a line of credit...

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Does Being Denied a Credit Card Hurt Your Credit?

If you apply for a credit card and get turned down, the good news is that the denial itself won't show up on your credit report or hurt your credit score. The bad news is that applying for the card in the first place can actually lower your credit score, though probably not by much. It depends on what else is in your credit history. Significance Credit reporting bureaus use complicated formulas that examine your credit history and assign...

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How Does Paying Off Credit Cards Affect Your Credit Score

Your credit score and your credit report affect more than how easily you can get a credit card or a mortgage. Employers check the scores of job applicants and insurers check credit scores on their customers. Paying down your credit card bills and keeping them paid off goes a long way toward boosting your score. The specific improvement will vary depending on your payment history and the amount of kind of other debts you have. Benefits Paying down or paying off credit cards will have a better effect on your credit than paying off any other...

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What Types of Loans Are Vantage Credit Scores Used For?

The Vantage score is a lesser-known, relatively new (originated in 2006) kind of credit score. It was created by the three main credit bureaus, Experian, Equifax and Transunion, as a way to offer creditors another way to view consumers aside from the more traditional and well-known FICO score. The Vantage score is calculated differently and the scores range from 501-990, which is also a different range than the more common FICO scores. Uses Vantage credit scores are not widely known and rarely used. Vantage credit scores have been created...

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How Does a Credit Bureau Collect Information About Consumers?

Credit Bureaus Credit bureaus collect consumers information that is reported to them by creditors. Information such as a consumers address, phone number, age, employer, income and payment habits are reported by creditors to credit bureaus. Credit bureaus add the information reported to them to the consumers' credit file. Companies access a consumer's credit file to help determine how much of a credit risk the consumer is. A credit file helps a company predict if a consumer will likely pay debt or not by looking at the consumer's past payment...

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How Do Collection Agencies Affect Your Credit Rating?

When you fail to make payments to a creditor for debts incurred, the creditors will often transfer this debt to a collection agency. This can have a variety of effects on your credit score. Debt Transferred to a Collection Agency Whenever you have debt transferred to a collection agency, your credit score will be adversely affected. This is because 30 percent of your credit score is based on your past payment history. Reporting Information to the Major Credit Bureaus If a debt is transferred to a collection agency, both the creditor...

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