Fifty Percent of Canadians Unaware of What Factors Affect Their Credit Rating; Only fifteen percent have requested a free copy of their own credit report.

Canadian Corporate News, August, 2007

OTTAWA, ONTARIO, Aug 23, 2007 (CCNMatthews via COMTEX) -- A recent study conducted on behalf of the Financial Consumer Agency of Canada (FCAC) revealed that 50 percent of Canadians were unaware of the factors that contribute to an individual's credit rating, and only 15 percent said they had requested a credit report for themselves in the past.

Some of the main factors that can influence a consumer's credit report and credit score include payment history, any collection or bankruptcy recorded against the individual, outstanding debts, account history and the type of credit the person uses. A credit report is a file maintained by a credit reporting agency, based on information supplied by lenders, that paints a picture of a consumer's past and current credit...