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20-The Canadian Champion, Tuesday, February 3, 2004 Understanding your credit rating (NC)-What does your credit raiing look like? For many Canadians, the answer to this question remains a mystery unlil they decide ta apply for a boan or credif card. When yau apply, lenders check your credit raliing ta decide haw credit- wortiiy you are. The information that is uncavered shauld flot camne as a surprise ta you. Every Canadian is entilled ta see their credit Linda Myronyk, CFP Fmnancial Fiancer *5K US MOII Lam. Spa'.-.IIIIIIIIIE FOND. I MONEY J CON CEPTS® repart fram the credit bureau. It is a gaod habit ta check yaur credit raling once a year ta make sure that if is accurate. If there are mistakes, yau can contact the credit bureau and have the errors tixed. What is a credf histary? 'Think of yaur credif history as your financial rep- utalion, says Mike Kitchen, Vice-President, Retail Lou Mulligan CFP, CLU, RHU Fracisc Fresident nnSIP LOANS AVAILARLE %EàFGON. Dealer Services Canada nc. Affliated with N.F. Insurance Agency Inc. Cardholder Praducts and Marketing, SMO Bank of Mantreal. "When yau apply for a loan or credit card, the lender wiI check yaur credif raling ta see if yau have a history of paying bock yaur boans in a timely manner." How do 1 build a credif history? 'Obtaining a credif card is one of the easiest ways ta establish a credif history. Students may want ta consider obtain- ing a no tee credit card ta build their credit rating, with o card such as Mosaik MasterCard," says Mike Kitchen, Vice-President, Retail Cardholder Products and Marketing, SMO Bank of Montreal. "Paying at least your mini- mum payment each monlth \wII ensure yau maintain a posifive raling. which \wil make if eosier when you are ready ta appy for a mortgage or a boan." How dol1 access my creddfain? There are two agencies in Canada that can give you your credit rating, Equifax Canada www.equifax.ca and TransUnion Canada www.tuc.ca. How do 1 make sure that mny credf rating lis accurafe? When you recelve your credif report, you should review if ta make sure if is accurate This way, if you flnd some- thing that is incorrect, you con fix if before you risk gelling refused credit. If there are no mistokes but you are con- cerned about your credif roling, you should meet wifh o credit caunselor who con offer you professional advice ta help you improve your credif roling and help get you bock on track What infonmation is captured in my credf reportl? Your credit report includes personal information such as yaur social insur- once number, birth date and current and previaus addresses. Financial infor- maion such os your credt cords, lines of credif and bill payments, are olso on the report, including whether or not you have mode payments on time. Al inquiries thot have been mode about you and whether or not you were granted credif will also be visible. Using your credif cord wisely is on easy way ta help build and maintain a solid credif raling. Choose a card thot \Mill suif your needs, such as one you con customie like Mosaik MasterCard. This way, you vAli have a credif card thot \&411 help you build a credif rating and wiI be designed ta suit your lIfestyle. WE ARE VERY PROUD TO ANNOUNCE THAT... Thomas Tamblyn has successfully completed the arduous CERflID RANOIAL. PLANNER (CFP> DESIGNAllON focusing on the following six courses e Personal Financial Planning e W.alth Accumulation e Retirement Planning e Risk Management & Estate Planning Strategic lnvestment Planning enw* Prfesil Pmoctlce As a senior member of the DFG Team, Tom will provide financial solutions for you and your family.. ClF am ChC lvffiU~ RRSP seas o i Wn byond!" Please cail Karen to book your compllmentary consultation with Tom or Helena. COMPREHENSIVE FINANCIAL PLANNING KNOWLEDGEABLE & APPROACHABLEII 310 MAIN ST. EAST SUITE 101-, MILTON, ON 191 1P4 Tel: 905-875-3366 Fax: 905-875-3574 www.donaldsonfinancial.com th FIN AN CIAL GR OUP. MutualFunds * RSPs *RVs*-Ps*U.@ToM&DbI uuo Clia isshsmo I MUTUAL FUNDS SPONSORED BY FUNDTRADE FINANCLIL CORP, 1 D i i Inw. Nta l P rI tesm? Vour source for mutual & segregated funds & GIC's M6 SPECIAL RRSP HOURS F Evening appointments available. Caîl (905)876-0940 420 Main St. E., Suite 204, Milton W_ W 1111111111111111