A credit report is one of the most important pieces of information about you. Essentially a snapshot lenders look at to assess you as a credit risk, your credit history has a major impact on whether you’re able to rent or buy a home, buy a car or secure loans and credit.

Yet despite the importance of a credit report, many of us have no idea what a credit rating is, much less what our own credit report is like. Under Canadian law, you’re entitled to see the information a credit agency has about you. Basic credit reports are always available free by mail or in person from both of Canada’s two major credit bureaus (Equifax Canada and TransUnion Canada) and online credit reports are also available for a small fee.

If you haven’t checked your credit report in the past year, now may be a good time to do so, just to make sure that all of the entries are correct.