This is a detailed guide from the FCAC on how to read your credit report and understand your credit score. Building a good credit history is important for your financial health. Along with millions of other Canadians, you have a credit history that is kept on file by companies called credit reporting agencies. They track how you use credit products, such as credit cards and loans, and pay your bills. Knowing what is in your report is important. If you have a poor credit history, it could be harder for you to get a credit card or a loan. This guide can help you: understand your credit report and score; improve your credit score; correct errors in your credit report; order your credit report and score.