MAKE THIS RESOLUTION STICK!

(NC) - It's that time of year when we all vow to start fresh. A new year filled with new resolutions. Most of us promise to start exercising and eating better. But what about getting our personal finances in shape as well?

You might try to clean up your finances by cutting up credit cards you no longer use. But cutting up your credit card doesn't mean that you've closed the account. Until you close the card properly through your credit card issuer, the available credit on that credit card will show on your credit report and that could work against you when you apply for a loan or a new card. There may also be errors on your credit report or other information that can cause your bank to turn down your application for a loan or credit card.

The best way to make sure that you don't have any old credit accounts open or any errors on your file is to request a copy of your credit report and review it. And, unlike all that personal gym equipment and health food you bought in keeping with last year's resolution, this is free.

How to Do It

To get a free copy of your credit report, mail or fax a request, with copies of two pieces of identification, to the three credit reporting agencies in Canada:

Equifax Canada
www.equifax.ca
Tel. (toll-free): 1-800-465-7166

TransUnion Canada
www.transunion.ca
Tel. (toll-free): 1-866-525-0262 or in Quebec (toll-free): 1-877-713-3393

Northern Credit Bureaus Inc.
www.creditbureau.ca
Fax (toll-free): 1-800-646-5876

This year take control of your personal finances and start a new habit of checking your credit report once a year. Knowing what's on your report will help you avoid any unpleasant surprises.

You can get more information from the Financial Consumer Agency of Canada (FCAC), which publishes a booklet called Understanding your Credit Report and Credit Score. To view or download this publication, visit FCAC's Web site at: moneytools.ca. Print versions are also available to the public free of charge by calling FCAC toll-free: 1-866-461-3222 (toll-free TTY number: 1-866-914-6097). FCAC is a federal government agency that protects consumers' rights and provides them with information about financial products and services. - (NC)

Source: www.newscanada.com