What's a credit inquiry?

Credit inquiries are usually made by organizations like your bank, creditors, landlords, insurance providers, and cellphone companies to decide how creditworthy you are when you apply for a new account. When you submit a new application for a bank account, rental 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.