MasterCard Canada is encouraging Canadians to check their personal credit reports this week.

On Monday, the company launched Credit Report Week, a consumer education program designed to raise awareness and understanding of how personal credit histories are generated.

As part of the week, MasterCard Canada is offering consumers an Equifax Credit Report at no charge ($14.50 value) to encourage consumers to visit the Be Credit Wise education centre found at www.mastercard.ca.

The new education center helps Canadians understand how to manage their credit effectively and allows them to order and review their own personal credit reports. The special offer began today, September 8 at 8:00 ET. and will end Sunday, September 14 at 23:59 ET.

“It’s surprising how few Canadians have seen their credit report,” said Walt Macnee, president of MasterCard Canada. “It’s how lenders decide whether to give you a mortgage, a car loan, and even an apartment, so it’s critical consumers become familiar with their credit history.”

MasterCard Canada recommends Canadians check their credit report once a year, to track new information that has been added and to ensure that all entries are correct.

The company suggests Canadians contact either of the two major credit bureaus, Equifax Canada (www.equifax.ca) or TransUnion Canada (www.tuc.ca), and ask them to correct any errors.

“The end of summer is a good time to do a financial check-up each year, starting with your credit report,” added Macnee. “By offering complimentary credit reports online, we hope to encourage Canadians to check their credit reports, and gain a better understanding of what affects their overall credit health.”

Under Canadian law, Canadians are entitled to see the information a credit agency has about them. Basic credit reports are always available free by mail or in-person from both credit agencies. Online credit reports, however, are available for a fee.

For example, Equifax Canada’s online report costs $14.50. But starting September 8, MasterCard Canada is providing complimentary Equifax online reports to the first 10,000 people to order them through it’s credit education centre.

In addition to educating consumers about their personal credit report, the new education centre includes information on building and maintaining a solid credit history, as well as general information on wise use of credit such as minimizing carrying costs, reduction of debt and more.


Be Credit Wise education centre
www.mastercard.ca/creditwise.