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You can and should order your credit report at least once per year. You can correct any errors, check for identity fraud, and know what your creditors know about you. There are two separate credit reporting agencies in Canada, Equifax Canada and TransUnion Canada, and each may have different information about you in their files, so we recommend you order your credit report from both agencies at least once per year (ordering your own report will not reduce your credit score or affect your report). A good idea is to order from one agency first and the second six months later in order to space your reports out and allow you to detect any problems sooner.

Your credit report is free if you request it by mail, fax, telephone, or in person and receive it by mail or in person. If you prefer to access it quickly online you will have to pay a fee. Your free report will not include your credit score, a 3-digit number that is calculated from your credit activity however, you can purchase your credit score if you prefer. See the credit agency websites for contact information and request your credit report today: TransUnion Canada and Equifax Canada

  At least one of Canada’s Chartered Banks has inserted a provision in their personal banking agreements which reads: “(Bank) may apply for funds in any of your accounts (including joint accounts) against any liability owed to (bank) or its affiliates without prior notice.” This provision is perhaps legally questionable, as if one party to a joint account owes money to the bank, and the other party makes deposits to the joint bank account; one would query the right of the bank to in effect attach the funds of one for the debt of another. The ethics of this provision, of course, is a whole other question.

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