Slightly more than one in three Canadian consumers have checked their own credit report prior to making important decisions involving their finances, according to a recent poll conducted for credit reporting company TransUnion.
The survey, conducted by Roper Public Affairs for TransUnion, reveals that the most likely activities to cause Canadians to check their own credit report are those that involve large expenses such as securing a home loan and purchasing an automobile — 19% for each.
The survey also found that 15% have checked their credit report before applying for a credit card, 7% before applying for a new cell phone plan and 6% before applying for a new job.
“Your credit history is a vital factor in determining whether you can get a loan and at what interest rate that loan will be offered,” said Tom Reid, Director, Consumer Solutions at TransUnion, in a news release. “From a mortgage to a car loan or even that job you want, knowing what’s in your credit report well ahead of time allows you to anticipate how your credit history will be viewed and, if needed, take steps to improve your credit standing before your application is reviewed.”
Consumers can access their credit report at www.transunion.ca. The site also provides extensive, free, educational content that can be of value to any credit active consumer. “The most important thing for people to know is that the simple step of checking your own credit ahead of time will not, in any way, harm your credit and can really help you down the line,” added Reid.
Roper Public Affairs conducted this study using Random Digit Dialing (RDD) methodology from May 25 to June 3, 2006. A total of 1,000 interviews were conducted among adults across Canada. Age, gender, income and geographic information were collected. The margin of error for the complete sample is +/- 3%age points. The margin of error for subgroups may be higher.
TransUnion provides credit reports and credit scores, as well as fraud victim services. Based in Toronto, with global headquarters located in Chicago, TransUnion provides local service and support in Vancouver, Edmonton, Calgary, Saskatoon, Montreal, Quebec City, Rimouski, Moncton, Charlottetown, Dartmouth and St. John’s.
One-third of Canadians have checked their credit worthiness: survey
- By: IE Staff
- July 25, 2006 October 31, 2019
- 10:30