Friday, July 25, 2008

What I learned from my credit report

With the possibility of an attempt at home ownership coming up, I thought it prudent to order copies of my credit reports. I keep hearing that it's smart to check them regularly to make sure they're correct and ... well, good, I guess.

I sent off the required photocopies and forms to the major credit reporting agencies in Canada, Equifax and TransUnion.

Equifax got back to me within a couple of weeks. TransUnion has not. Last time I tried this, I sent one of them insufficient copies of my documentation, and got my info from one and a "sorry, can't help you" letter from the other. I'm hoping I didn't do the same thing this time.

So, here's what I learned from Equifax: Everything's fine.

My file was opened in the fall of 1994, which must've been when I got my first Mastercard.

They have my current address correct, and my previous two addresses. They have correct info about my employer.

The report shows credit inquiries from the car leasing company, two property management companies from when I was apartment-hunting here, and four inquiries from TD/GM Visa. Yeah, back from 1996 to 1998 I applied four times for a GM Visa. I got t-shirts and mugs and whatnot. I was turned down every time.

Other inquiries on my record show quick checks from Citi, Amex, Future Shop and Best Buy.

As for my credit history, everything's great.

The car lease, on which I'm a co-signor, is rated at I1, paid and up to date.

My Visa, MC and Amex accounts are all rated R1, paid and up to date. My Royal Bank line of credit is also rated R1.

There's no actual credit score in this report, but I imagine my score would be good, too. I'm not late with payments and I pay everything in full. I have a decent credit history going back 14 years.

Lookin' good. Now I can just hope those schmoes at TransUnion get me the other report so I can smile at that one too.

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