Credit scores have become a major metric in our lives; if you are getting a car loan, mortgage or even applying for a job your credit score will have a significant impact on the decision. I believe everyone should check their credit reports on a regular basis, semi annually or quarterly if you have a credit score that needs improvement. Many myths have come about due to the mysterious algorithm which calculates your FICO score, let’s shed some light on a few of these credit score myths.

Checking Your Score Will Hurt
This is one of the most common myths out there. Constantly applying for new credit will most likely hurt your score, but if you order a copy of your credit report and credit score it does not affect your FICO. You should check your credit report regularly for mistakes and possible fraudulent activities.  Read More…


  1. Here you go:

    Equifax: here
    Voice: 877-323-2598
    Free credit report Equifax:-800-465-7166
    Or Fax: 514-355-8502 (Requires 2 IDs and proof of Addy e.g. Util bill), Current Addy, Prev Addy, DOB

    TransUnion: Free Credit Report – here
    Voice: 800-663-9980
    Fax: 905-527-0401

  2. One common myth is that you can have your child on as an authorized user of your credit card and help build their credit history. This is totally untrue. I think it use to be the case for US citizens but never for us. And for good reason. Each person needs to build their own credit history without the aid of someone else.

  3. Can someone give me the Eaquifax/Trans details to get my free report?

  4. There are two types of credit score checking: Soft and Hard. When applying for a card they do a hard check that does temporarily lower your score. But looking to do a credit limit increase usually is a soft check which doesnt hurt your score. Do it too often and you could be flagged.

  5. Equifax and Transunion each allow you to get your credit history for free once a year. I usually get one 6-months in and then use the other for the next 6-months so i am covered for the entire year.

  6. Too many people are obsessed with their score and not enough about learning to manage their funds more wisely.

Leave a Reply

Your email address will not be published. Required fields are marked *