5 Things you may not know about your credit file:

1. Everytime you apply for a loan it goes on your file as an enquiry.
2. Multiple enquiries over a short period of time can be detrimental and reduce your chances of approval.
3. Enquiries on your credit file don't specify whether you were approved or not.
4. Enquiries on your credit file don't specify whether you took the loan or not.
5. Payment defaults can stay on your credit file between 5 and 7 years, damaging your credit rating.