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TransUnion Survey Reveals Greater Need for Consumer Credit Management in Canada
Over Half of Respondents Have Not Checked Their Credit in the Past Year
Toronto, Canada, April 21, 2005 – TransUnion Canada, a leading authority on consumer credit, released the results of a survey today conducted by Roper Public Affairs on the frequency with which Canadians check their credit. The results are sobering. Over half (55 percent) of Canadians say they have not checked their credit in the past year.
TransUnion recommends that consumers review their credit at least once a year or three months before a major purchase to ensure good standing with potential lenders. Checking credit frequently is also a vital first line of defense in combating identity theft. Despite this, only 17 percent of survey respondents reported checking their credit profile two or more times over the past year.
"Reviewing your credit profile is a fast and easy way to ensure that your finances are in order, your credit is safe from identity theft and that you are ready for your next credit or loan application," said Ken Porter, president, TransUnion Canada. "That is why it is troubling to see so many people missing this opportunity —and why we’re so committed to changing the current dynamic."
TransUnion makes it easy for consumers to access their data through their secure Web site at www.transunion.ca. The company also provides a free online learning center and monthly email newsletter for people who want more information about managing their credit.
The TransUnion/Roper survey also found:
• Most Canadians Never Check Their Credit Score: Only 36 percent of Canadians report ever checking their credit score.
• Younger People More Likely to Check Credit: Canadians fifty and over (29 percent) are significantly less likely to have checked their credit score this past year than Canadians aged 18 to 49 (41 percent).
• Children Make a Difference: 42 percent of households with children have checked their credit score over the past year, compared to 33 percent of households without children.
About TransUnion
TransUnion Canada is a leading global information solutions company that customers trust as a business intelligence partner and commerce facilitator. TransUnion offers a broad range of financial products and services that enable customers to manage risk and capitalize on market opportunities. The company uses leading-edge technology coupled with extensive analytical capabilities to combat fraud and facilitate credit transactions between businesses and consumers across multiple markets. Founded in 1968, Chicago-based TransUnion employs 4,100 associates that support clients in 32 countries. Visit our Canadian Web site at www.transunion.ca. and our international Web site at www.transunion.com. |
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