Maintaining Credit Worthiness

Keys to Great Credit: Know Your Credit Reports

Learn about credit reports, fraud protection, and find out how to improve your credit score.

The following steps are recommended:

Pay your bills on time
Call your credit provider(s) in a timely manner and alert them if there is a problem meeting your commitments
Review your credit file to make sure there are no errors in the information and/or discover any overdue accounts that have been forgotten about. A File Update Form is available to request corrections
Monitor your credit file to ensure someone is not fraudulently using your identity (a growing problem worldwide)
A "no" to a credit application, or the supply of goods and services where payment is deferred, does not necessarily mean your credit file is flawed. Credit providers each have their own lending criteria, so seek an explanation
Remember that the details on overdue accounts, even when paid, remain on your file for five years from the date of listing, as part of your credit history
An overdue account is usually a debt of over that has been owing for a minimum of 60 days
Overdue accounts where the debtor has been "confirmed missing" remain on the database for seven years.