How Often Should You Check Your Credit Report?

Your credit report isn't just a number—it's a snapshot of your financial history that lenders, landlords, and even employers may use to make decisions. Inaccuracies or fraud can quietly erode your financial standing if you’re not paying attention. So, how often should you actually check your credit report?

The Recommended Frequency

In Canada, the rule of thumb is at least once every six months. However, if you're planning to apply for a mortgage, loan, or new credit card, checking it more often—say, quarterly—is a smart move. This ensures you have time to correct any errors or improve your score before an application.

When to Check More Frequently

Consider checking your credit report more often if:

• You’ve been a victim of identity theft

• You’re in the middle of a debt repayment or credit repair process

• You’ve recently moved or changed jobs

• You’ve been denied credit unexpectedly

Where to Access Your Credit Report

Canadians are entitled to a free credit report from Equifax and TransUnion once a year. You can also sign up for free monitoring services like Credit Karma (TransUnion) or Borrowell (Equifax) to get more frequent access.

What to Look For

When reviewing your report, pay attention to:

• Incorrect personal information

• Accounts you don’t recognize

• Payment history discrepancies

• Duplicate or outdated entries

Why It Matters

Monitoring your credit report helps you:

• Catch fraud early

• Fix reporting errors

• Track progress while rebuilding credit

• Prepare for major financial decisions

Make It a Habit

You don’t need to obsess over your credit report daily, but ignoring it entirely is risky. A semi-annual check-in is good practice for most Canadians. For those rebuilding or protecting their credit, quarterly reviews make even more sense. Stay proactive, and don’t let errors or fraud damage your financial future.

Tip: Set a calendar reminder every 3–6 months so it becomes part of your routine.