Project Summaries 2010-2011 - Consumers’ Association of Canada (Manitoba) Inc.

21-222 Osborne Street South
Winnipeg, Manitoba
R3L 1Z3
Tel.: 204-452-2576
Fax: 204-284-1876

Knowing the Score: Canadian consumers' knowledge and understanding of credit reporting and credit scores


During the 90's and the first part of this decade, consumers in Canada amassed an increasing amount of debt as compared to income. With the recent economic downturn, it has become more important to overall consumer well-being for consumers to understand, nurture, and protect their credit score and credit history. In this decade, the use of credit files has become increasingly diverse. Once used almost solely to determine consumers' financial situation, consumers' are now asked to consent to a credit check by potential employers, landlords, and insurance companies. The impact of our credit scores and credit history has more far-reaching consequences for our future choices than ever before, and can affect where we work, where we live, and our ability to access almost anything from a cell phone plan to an insurance policy. As the uses of credit files increase, so does the importance of consumers' level of knowledge and understanding regarding the collection of their credit information, their options regarding consent and accessing their credit information, the importance of building, repairing and maintaining their credit history to their future well-being, and their opportunities for redress when mistakes are made.

CAC Manitoba will research consumers' level of knowledge and understanding regarding all aspects of credit scores.

Expected Outcome

The objective is to raise awareness of consumers' level of knowledge regarding this important aspect of credit scores, and to develop recommendations to improve consumer awareness.