Equifax Free Credit Report

There are two ways to obtain a copy of your free Equifax credit report.

1) Mail a written request with copies of two pieces of identification to:

Equifax Canada Inc.
Consumer Relations Department
Box 190 Jean Talon Station
Montreal, Quebec
H1S 2Z2

2) Fax a written request with copies of two pieces of identification to: 514-355-8502

Free Transunion Credit Report

You can also request a copy of your free Transunion credit report.

You are allowed to obtain 1 credit report free each year from each company. Obtaining a copy of your credit file on a regular basis is an important step in managing your credit situation.

Steps To Improve Your Credit

1. Get a copy of your credit report. You can pay for it or get it free. You can google free credit report and come across many sites that will give you this, then review it carefully and correct any significant errors.

2. Make sure you pay your bills on time. It can be its monthly limit but make sure you pay on time.

3. If you have a questionable credit history, open a few new credit accounts, use them responsibly, and pay them off on time.

4. If you have many credit cards on your report that you dont use, then close them. But make sure you have a couple of active credit cards on file that you have had for a long time and use every now and then.

5. Note that having a credit card or instalment loan can help boost your score, so long as you don’t have too high a balance and you pay it off in a timely manner.

6. Keep your balance low in relation to your available credit. If your credit limit is $10,000, keeping your balance below $2,500 (or 25 per cent of your limit) will improve your score.

7. Pay off your credit card debt instead of moving it around to lower rate cards. Moving balances to other credit cards (called a “balance transfer”) and closing out the old account can hurt your score.

Re-establishing Your Credit After Bankruptcy

Re-establishing your credit. Obtaining a credit card 1 year after a bankruptcy can sometimes be hard. If you cannot get a new credit cardit then get a secured one. This card is just like a regular credit card, however you pay for the card. There isn't much risk to the credit card company so most people get approved when applying for this. This helps you rebuild your credit like a normal credit card and required to active credit cards when applying for a mortgage.

Here are a couple of companies that issue secured credit cards.

Capital One – minimum $75-$300 deposit required

Peoples Trust – minimum $500 deposit required

Home Trust – minimum $1000 deposit required

For more information call today or apply online.