Getting cozy with your credit can prevent fraud
When Credit Education Month and Fraud Prevention Month fall in the same month, it’s a perfect excuse to educate yourself on the importance of both topics.
The easy thing is that understanding your credit will actually be one of your biggest allies in preventing fraud. Keeping on top of your report will let you know if your information has been breached, and fraudsters can do a lot of damage with your personal information. Knowing what’s going on at all times will save you money and prevent a lot of headaches.
This is also a useful practice when you’re looking to get your score to a specific point in order to get a mortgage or other financial venture. There are many ways you can go about doing this as well:
- To simply get your report for free, you can do so either in person or via mail
- Equifax Canada has a great service for a small monthly fee that will allow you unlimited access online, and updates via email. Or for a one-time fee, you can have a peek at it as well.
Some more helpful tips about your credit report:
- During the application process, lenders look at your credit record and credit score to check how you’ve managed your debts.
- It’s a smart idea to review your own credit report and score before applying for a loan.
- For a small fee, a credit bureau will provide an instantaneous, complete online credit report and credit score that details your current debts and payment history. They also detail what your score level means, how you compare to others and provide tips to improve your score.
- You also may receive your credit report (without the credit score) by mail for free by contacting the credit bureau.
- When you receive your credit report, ensure that all the information and amounts are correct. Look carefully for any past-due or written-off amounts. Uncertainty and ambiguity on your credit report can be dangerous to your financial health.
If you have any questions about how to obtain a credit report or tips for staying on top of your credit, please feel free to contact me anytime. Further, you can also reach me on social media.
