Posted on: 23-01-10 08:35:41
Hi ,
It is long time I wanted to put my story from Landing till now but Job search is so tiring , i could not get time to contribute .
Recently and now again i came across with the term Credit Check. What exactly this is ? Is this something Bad for future?
New in Canada
Quote:
Originally posted by Oimnadniia
Hi ,
It is long time I wanted to put my story from Landing till now but Job search is so tiring , i could not get time to contribute .
Recently and now again i came across with the term Credit Check. What exactly this is ? Is this something Bad for future?
New in Canada
Every lender, service provider, landlord, bank... check your credit file before giving you loan or service to make sure that you have ability to pay them back or pay your bills for service provided. Therefore they do credit check. There are two companies - Equifax and Transunion in Canada who maintain your credit file.
Please see following link https://www.econsumer.equifax.ca/ca/main?forward=/view/common/template.jsp&body=/view/education/credit_ed.jsp&lang=en&show=/view/education/report_basics_llaanngg.jsp of Equifax to learn more.
Thanks for information and i really appreciate your answer.
In other words it is nothing but it is check to check , How good you are paying back!!!!
Credit check is not only for giving loans.
Employers often do credit checks, and so do insurance and utility companies.
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
Thanks Pratickm for information
I know about banks, FI, Credit card, employers for credit history
But why Insurance as well Utility companies ?
For example -
in the year 2008, I did my personal insurance as I bought house
Due to house - utility comes into picture
I had 3 different services from 3 different utility companies
( Electricity, Gas, water )
Is that mean my credit history was checked at least 4 times in the year 2008 ?
Why I want confirmation, as I had Credit report for 2008 & nothing says about Insurance as well Utility companies
Is something wrong with report ?
Just to clarify
Quote:That means they did not run a credit check.
Originally posted by m2611
Why I want confirmation, as I had Credit report for 2008 & nothing says about Insurance as well Utility companies
Is something wrong with report ?
If they do, it always shows up on the report.
Not all companies run credit check, and not all employers do.
However, sometimes the checks show up under different name because the company may be using some agency to do the checks.
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
Hi m2611
I work for a utility company and what we do is we request customers to get a credit check done by either equifax or transunion and then submit the score to us in order to waive deposit(credit score needs to be over 700).We do not do it by ourself(as it is going to cost the company).Hope this helps
cheers
prince
Quote:
Originally posted by m2611
Thanks Pratickm for information
I know about banks, FI, Credit card, employers for credit history
But why Insurance as well Utility companies ?
For example -
in the year 2008, I did my personal insurance as I bought house
Due to house - utility comes into picture
I had 3 different services from 3 different utility companies
( Electricity, Gas, water )
Is that mean my credit history was checked at least 4 times in the year 2008 ?
Why I want confirmation, as I had Credit report for 2008 & nothing says about Insurance as well Utility companies
Is something wrong with report ?
Just to clarify
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http://www.pictaram.com/user/pannapantry/3267403800
