Quick Tips on Managing Credit

• Check your credit files at least every one to two years to ensure the information is correct. Send a written request to one or both of the two major credit bureaus in Canada: Equifax Canada Inc. or TransUnion Canada Inc.
• If you question an item on the file, the credit bureau will investigate on your behalf.
• If an error is found, the credit bureau must correct it. The consumer should present official receipts to the bureau when updating balances.
• The credit bureau will send copies of the updated file to credit grantors upon request.
• The credit bureau itself does not refuse loan applications. Financial institutions (i.e. banks and other credit grantors) follow their own systems for deciding whether or not to grant credit.
• If credit is refused, the consumer is directed to a credit bureau to review the information that contributed to the decision.

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