[MRG] Credit Reports

[plan b]

So if a bank checks my credit when I apply for a credit card, would that lower my score? Or do I need to be denied first before my rating decreases?

[v00d00]

Yes it affects you. Every time an institution checks your credit it looks bad upon you.

Of course if you are only applying to that one place, and they give you what you want.. you are set.. because noone else will be checking after them.

but take for example you got to Bank 1.. they check your credit (it's logged that someone checked it), then they deny you.. so you go to Bank 2.. then they see that Bank 1 just checked you out last week.. and I guess they didn't give you the loan, or else you wouldn't be at Bank 2.. so why would Bank 2 risk something Bank 1 passed on?

So then you go to Bank 3... ya know?

Otherwise you only apply for something say every year or two years (or more) that really won't affect your credit whatsoever.. especially assuming you would have gotten whatever you were applying for.. which then using that credit and paying it on time will boost your credit score again.

It's like, ya gotta have people check yer credit.. just don't make it a habit!

[plan b]

I plan on requesting for my credit report but before I do, what are the actual scores? is it 1-10 rating? is there a maximum rating? What should I typically expect?

[v00d00]

I *THINK* there is also another scoring system used besides FICO.. though I really can't think of what it is off hand (so maybe I'm dreaming?).

Either way, just do a search on google about it.. it lists approximately what the scores mean.. but the score alone isn't whats so critical about getting your report, what you are looking for is inaccuracies.. you need to get those cleared up as soon as possible.

[red_red]

Hi,
is there some phone number or website to obtain
your own credit rating... to see where you would stand in
the creditor's eyes...
Basically my question is who can i ask, to find out what my credit
rating is... i am interested as I have several CCs and am looking
at a new CC....

thanks for any info.

[marksman]

There are two main credit report providers in Canada, Equifax and TransUnion.

You can find details for obtaining your credit report from them on their websites:

Equifax -- http://www.equifax.com/EFX_Canada/
TransUnion -- http://www.tuc.ca/TUCorp/home.asp

You can get your report for free from both of them (you need to send it by mail). If you want to get it quicker, they will happily sell it to you for ~$15

[rain111]

How do I obtain my own credit score? I have got my credit report from Equifax but they did not include my credit score in the report.

[Rehan]

How do I obtain my own credit score? I have got my credit report from Equifax but they did not include my credit score in the report.

I think buying the $22 report from https://www.econsumer.equifax.ca/ca/main?lang=en is the only way to get the details of your score. Other than that, maybe you can ask a banker or similar person who is processing a credit application for you.

[taile]

If you happen to live in a city where Equifax and/or TransUnion have an office, you can go there directly and view your credit report for free.

wow! are you sure about this!? i can just walk in and ask them to print a report for me without any fee!? sound too good to be true!

http://york.cioc.ca/details.asp?RSN=6860&Number=64

this place is quite near my house!

[jkyc]

after reading this thread it reminds me of the book i had read eariler...it's states that if u want to know your boyfriend/girlfirend's fiancial standard u can always do a credit check for them....sooo funny.....yeh well it's partly true..can u believe how easy to check up with others financial history??? all u need is a sin card/driver lincense number...(if u willing to pay or else it would be come a bit of complicated..to get a photo copy of it.)...