The SFAA Bring in Guest Speakers from TransUnion to Speak About Credit Reputation

Written by: Marianne Sy-Lucero

On February 10th, the Sheridan Finance and Accounting Association (SFAA) hosted the Build Credit Reputation event at Sheridan’s Davis Campus in Brampton. Students were invited to listen to guest speaker, Mary Simchison, the Manager of Consumer Solutions at TransUnion Canada, accompanied by Marisa Saltarelli, speak about what credit is, how to read your credit score, and how to avoid credit fraud.

What is credit?

Credit is a transaction made by an individual to receive money, a product, or service with the individual’s promise to pay the agreed upon amount of money at an agreed upon time in the future. In order to receive credit, the lender will review the individual’s creditworthiness and then decide on how much he or she can borrow. This is decided upon review of his or her credit score.

What is a credit score?

A credit score is a three digit number assigned to an individual that determines his or her ability to repay a loan. Your credit score is determined through the analysis of your credit information and is primarily based on credit report information collected through credit bureaus. The information collected include: past payment history, credit behaviour, types of credit, and current outstanding debt.

Tips on How to Avoid Fraud

  1. Understand what identity fraud is and the different types of fraud
  2. Stay up to date on any current scams
  3. Know what kind of information can be used (i.e. SIN, birth date, credit card numbers, etc.)
  4. Do not carry any important information in your wallet (i.e. SIN, birth certificate, etc.). Keep these documents in a safe place
  5. Know what resources are available to you for fraud recovery and act quickly if you discover an error
  6. Check your credit score regularly


TransUnion. (2015). Don’t Let Your Credit Score Scare You.



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