What's a credit inquiry?

Credit inquiries are usually made by organizations like your bank, lenders, landlords, insurance providers, and cellphone companies to decide how creditworthy you are when you apply for a new account. When you apply for a bank account, rental property or mortgage etc. in Canada, you have to consent to a credit check before it is actually done, so unexpected inquiries into your credit bureau can be one of the earliest signs that your data’s been compromised.