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Your Credit Profile

Your credit profile is your financial reputation. Each time you borrow, you build a credit history. When you apply for credit, lenders consider your financial track record, along with information about your employment and other debts and assets you have.

How can you build a positive credit history?

Do: Don't:

It's wise to check your credit profile each year to make sure there are no errors on your file that could compromise your creditworthiness. You can request a free copy of your credit profile from the following credit bureaux:

You can also request to see your credit score. A credit bureau takes several elements of your credit profile and identifies a score that rates your creditworthiness on a scale. Your credit score may influence the interest rate that you pay and help determine whether lenders consider you a good candidate for a loan. Obtaining your credit score may cost a small fee, but it may be worthwhile if you are considering financing a major purchase such as a home or car.

More credit resources

Featured publication: Understanding Your Credit Report and Credit Score
(Financial Consumer Agency of Canada)
Order a copy by calling the FCAC at 1-866-461-3222
Fact sheet: Take Control of Your Debt (TransUnion)

Your Money Students for: