You probably have seen those annoying commercials on TV or those intrusive ads offering free credit reports.

If you were to sign up for one of these services and order your “free credit report” you will likely see a nasty surprise on your credit card bill the following month.

What many unsuspecting individuals do not realize when they order their “free credit report” is they are actually signing up for “credit protection” or “fraud prevention” services offered by these companies.

They are charging you $15 – $25/month for these services (which most people do not need) and providing you the “free credit report” as they’ve already charged you for other services.

If you apply for a credit product such as mortgage, credit card, loan or even cell phone and auto insurance accounts, a credit check will be performed. If you have poor credit history, you will be declined for most if not all of these products.

You can obtain a free copy of your credit history to ensure your credit information is correct and up to date.

You can contact the two primary consumer credit bureaus in Canada and request your free credit history report with their automated telephone system. You will need to provide at least 2 pieces of ID to confirm your identity (Social Insurance Number and a credit card number).

Trans Union
1-800-663-9980

Equifax
1-800-465-7166

If there are errors on the credit history report, you can submit a correction request to the credit bureaus.