The websites of the main credit reporting agencies prominently display links for citizens to purchase instant access to their credit report and score online. However, Canadians and Americans do not have to pay for a report if they opt to receive the report by mail.
It is important to order a credit report at least once annually, to safeguard against (or correct) any of the following:
- errors in credit reporting
- unidentified accounts, often as a result of identity theft
- mistakes in employment, address or other personal information reporting
Free Credit Report Services for Canadians
There are two major credit reporting agencies in Canada, Equifax Canada and Trans Union Canada. These agencies collect information on loans, credit cards, consumer debts, credit inquiries and more. It is possible to find reporting errors in a credit report. Review the report carefully and follow the instructions on the credit reporting agency website to file a dispute.
Tip- Take advantage of the fact that there are two agencies by applying for a free report by mail from each one six months apart. This gives citizens the opportunity to check credit reports more often without paying a fee. Note that a free credit report does not include a credit score; that is available online for an additional charge.
How Canadians Order a Free Credit Report from Equifax or Trans Union Canada
Order free credit reports by mail and include copies of two forms of government-issued identification. Forms are available online on the websites for Trans Union Canada, Trans Union Canada- Echo Group (for residents of Quebec), and Equifax Canada. The links to download forms are not always obvious and can be difficult to find. To order forms by telephone, call:
- Equifax Canada- 1-800-465-7166
- Trans Union Canada- 1-800-663-9980
- Trans Union Canada, Echo Group- 1-877-713-3393
Free Credit Report Services for Americans- Authorized by FTC
The three main credit reporting agencies in the United States are Experian, Equifax, and Trans Union. Americans can visit their websites to download forms and send them by mail.
Many online services claim to offer free credit reports from all three agencies with one order form. However, many of these companies actually charge hidden fees. There is only one agency authorized by the Federal Trade Commission to give free credit report access. Citizens may request all three reports at once, or order them separately throughout the year. Call AnnualCreditReport.com at 1-877-322-8228 for more information.
Prevent Identity Theft and Clean Credit Up with Careful Review of Reported Items
After reviewing all reported items, immediately file a dispute as instructed by the reporting agency if there are mistakes, unknown accounts or misprinted items on the report. Employers, landlords, and lenders regularly check credit reports before hiring, renting to tenants or issuing credit. It is important to be diligent and check credit as often as possible. Using the processes outlined in this article, citizens can check their credit reports two to three times per year, without paying online access fees.
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