You'll Receive:
- Free Credit Report and Free Credit Score1
- Credit Monitoring Updates
- Identity Theft Insurance2
Credit data provided by TransUnion. Canadian residents are entitled to request a disclosure at no charge from credit bureaus. Only the member whose name appears on Privacy Protection Plus record can request a credit profile, credit score or credit monitoring.
2Members are covered under an insurance policy issued to MemberWorks Canada Corporation and underwritten by member companies of American International Group, Inc. The description herein is a summary only. It does not include all terms, conditions and exclusions of coverage. The complete details of coverage and exclusions are set in the actual policy of insurance issued to MemberWorks Canada Corporation. Coverage may not extend to all jurisdictions. Debit Card Fraud Protection: Maximum of $500 per debit card per membership year. Debit card fraud protection coverage subject to a $1,000 annual aggregate limit.
Why Do I Need To Check My Free Credit Report?
Learning the basics of the credit report process, and keeping your credit report free of errors, is essential to good financial health. Credit bureau collects, maintains, and provides your report to landlords, businesses, and employers who need to check your financial responsibility.
It's wise to check your free credit report frequently for signs of fraud. If someone obtains your social security number, only a few additional pieces of information are necessary to commit fraud in your name. Common types of identity theft include fraudulent bank accounts, credit cards, utilities, and loans. According to the FTC, victims of identity theft spend an average of 175 hours and $800 to clear their names. Early detection is the key to avoid suffering long-term financial consequences.
What is a Credit Score?
Your personal credit score is a number from 349-849 which stands for your credit risk. The higher numbers are considered less likely to default. Credit scores come from mathematical formulas that measure many variables in your credit report such as payment history, public records, and debt to income ratio.
Why Do I Need To Check My Credit Score?
A good credit score is your passport to competitive interest rates for mortgages, cars, credit card offers, job offers, insurance premuims and more. A strong score is worth money because it saves you excess costs, so don't ignore it.
For example, see how a fixed 30-year mortgage payment varies according to credit score and the interest rates it dictates. A difference of two hundred points in score can offer a savings of $448 a month for the same $200,000 house loan.
| Credit Scores: | 550 | 650 | 750 |
| Monthly Payments: | $1,643.00 | $1,339.00 | $1,195.00 |
| Savings: | $ - | $ 304.00 | $ 448.00 |
If your score is below 650, your future finances may be significantly affected. Get a copy of your Free Credit Report & Free Credit Score online today.
Get your free credit report and free credit score and find out your creditworthiness before you:
- Apply for loan
- Buy a car
- Apply for a credit card
Did You Know?
- Victims of identity theft spend an average of 175 hours and $800 to clear their names.
- Only 2% of Americans know their credit score or what it measures.
- 79% of credit reports may contain errors that you are unaware of - usually an indication that you have been a victim of identity theft or fraud.
*Note: FreeCreditReportsInCanada.ca provides information and links to credit related products and information. Upgrades for a FICO score and other promotions are available from the provider. Learn all the facts about credit management and credit monitoring at FreeCreditReportsInCanada.ca