SpendOnLife.ca

Are Cell Phones the New Credit Cards?

Karen Stephenson — Thu, 05 Nov 2009 23:23:31 +0000

Calling all Canadians! Protect your cell phone number with the exact same caution as you would a credit card!

Canadians are being warned that in the ever-increasing mobile society, technology has advanced to the point that shoppers can pay for goods and services while on the run by typing in their cell phone number. Yes, the cell phone is now morphing into a credit card.

Warnings about this were issued after numerous Canadians alerted CBC News that they were scammed into signing up for expensive text message schemes after entering their cell numbers through quizzes and games. To their bewilderment, they actually signed up for "Premium Text Messages." These messages you pay for in addition to regular text message fees – an additional cost that can be as high as $5 per text.

Now, although this is really a scam, it is one example of how easy it is for your cell number to be used for nefarious activities.

Many people tend to provide their cell phone numbers to anyone, but it's information that should be treated with more sensitivity. Iain Grant, head of a Montreal-based telecom consultancy said in an interview with C.B.C., "Your cell phone number is far more than just a phone number."

Although it is not as common in Canada yet, in Europe, people use their cell phones to pay for small services. Several cell-related services are headed to Canada including fundraising. Last month, the Canadian Wireless Telecommunications Association assisted in the launching of mobilegiving.ca, a website that takes online charity donations simply by typing in a cell phone number. This is technology that makes many nervous because cell numbers are used as frequent, if not more frequent, than home telephone numbers.

RFID tags are a part of every day life as they are embedded in items purchased at stores. They are essentially tiny microchips, some being only 1/3 of a millimeter in width, and they act as transponders. Several banks are working on ways to make cell phones into a credit card by adding in it, an RF chip.

So with this technology on the horizon, Canadians beware! Keep your cell phone number sacred and never give it to anyone unless it is a trusted source.

Using a Corporate Credit Card Responsibly

Rita Marshall — Mon, 02 Nov 2009 18:36:26 +0000

After a lot of work and a lot of responsibility, your boss at the corporation you work for has just given you a corporate credit card. The boss, however, may not have told you exactly what that means.

Keep in mind the cautionary tale of Seinfeld’s Elaine, who ended up in the Burmese jungle after using her expense account for cookware, a WaterPik and an $8,000 sable hat for her friend. Very few companies would allow you to put personal purchases on a corporate card, even if you pay them back. But that’s just the beginning of understanding how to use a corporate card.

Different types of corporate credit cards

A purchasing card allows you to purchase day-to-day items on behalf of the business, such as office supplies, couriers or computer equipment. A corporate card is a card that lets you bill business-related travel and entertainment (T&E) expenses. There are also cards that combine the two functions. Understand what kind of card you have and you will have a good starting point to know what expenses will and won’t be acceptable.

How will your corporate credit card work?

Your organization should have a clear policy of how corporate cards will work and how employees must use them. Make sure you understand:

The purpose of your card
How your card can be used. You will have a credit limit on your card, but you may also have a daily transaction limit, or certain merchant categories may be blocked.
Who will approve your expenses
What expenses are appropriate. Ontario’s ministry of education, for example, advises school boards that personal travel expenses or lavish gifts are inappropriate items for an employee to put on a corporate card. Many corporations also forbid cash advances.
How payment on the card will work. Visa Canada, for example, offers corporations three different methods of billing: the company is billed and pays, the employee is billed and the company pays, or the employee is billed, pays and is then reimbursed.

If you are expected to pay and then be reimbursed, find out how what information you will need to provide, who you must give the information to, and how long it will take for you to receive reimbursement. Make sure you also understand the billing cycle on your corporate card.

Personal use of corporate cards

When it comes to Canadian federal government credit card regulations, corporations are free to dictate whether employees can or can’t use their corporate card for personal use. Most corporations forbid the personal use of credit cards – even the best-intentioned employee can forget to pay back a personal expense. Also, most corporations use a corporate card system specifically so that they can track business expenses, not so they can separate your business and personal expenses on your monthly statement. You will need to carefully understand and follow your particular corporation’s policy on personal use.

While a corporate card may initially make you feel as giddy as Elaine on Seinfeld, responsible use of the card is no joke. Understanding the rules, usage and policy on your particular corporate card will protect the financial health of for both your employer and you.

Government Helps to Protect Canadian Credit Card Users

Karen Stephenson — Mon, 05 Oct 2009 16:44:39 +0000

After numerous public consultations, the Canadian government announced on September 30 that new credit card regulations were approved.

The Canadian Bankers Association has some opposition to these changes and they hope that these regulations do not have the unintended consequence of doing more harm than good to the consumer, as evidenced in the US.

Most of the new regulations will be effective on January 1, 2010. But others, like the 21-day interest-free grace period on all new purchases, won't come into effect until next September.

New regulations

Credit card issuers will be required to provide a summary box on contracts and application forms that clearly explain important factors such as the interest rate and card fees. The new law also makes it mandatory to inform credit card holders how long it would take to fully repay their balance if only a minimum payment is paid monthly.

The government is also urging banks to give consumers advance disclosure of interest rate increases prior to the increase taking effect, regardless of whether or not this information is in the credit card contract.

Currently, many credit cards automatically raise credit limits. This will no longer be permitted. Credit card holders will have to ask for express consent to have their credit limits increased.

Other regulations at a glance

Allocations of payments will favor the consumer when balances are transferred to a lower-interest credit card.
Some debt collection practices currently used by financial institutions will be limited.
Over-the-limit fees that occur due to an item being placed on hold by a merchant will be banned.

Understanding interest rates, fees, and increases to monthly payments are challenges that many credit card holders face when managing their credit cards. Part of Canada's Economic Action Plan was designed to help credit card holders attain a better understanding of their credit cards.

Knowing more about credit cards may be important, but opposition politicians say that these new regulations are lacking the most important item. Interest rates in recent months have dropped to incredible lows. Meanwhile, credit card interest rates are still sitting high in too many cases. Credit card consumers will get no relief where it's needed the most: in a reduction of the interest rate.

Regardless of the opposition politicians, these changes are anticipated to help many Canadians credit card holders in 2010.

Which Credit Card is Right for You?

Karen Stephenson — Wed, 09 Sep 2009 17:03:55 +0000

There are lots of credit cards out there to choose from, but how do you know which one is right for you? Here, we offer a breakdown of the types of cards available. Read through the descriptions to find the card type you should apply for.

Low interest credit cards

Credit card companies often get new customers by offering competitive low rates on credit cards. Low interest credit cards offer low rates of interest on new purchases, balance transfers, and sometimes the balance owing. It's very important to find out how long the low interest rate will last, though, before signing up. Often, these are simply introductory rates that shoot up after the first six or 12 months. Some people read only the larger, bold print and tend to neglect the smaller fine print on the application forms. Those who may have a bad credit rating but have three or four months of timely payment history may qualify for one of these cards.

Secured cards

Secured cards are, in reality, not actually credit cards. They are a form of "secured" debt, meaning that you must put up collateral in order to open one of these. With a secured card, you can only spend what you deposit into an account you open with the creditor. For instance, you may have to place $800 into a savings account with the creditor and in return you'll get a card with which you can charge up to $800. If you don't pay back the debt, the creditor could confiscate your savings account. Almost anyone who is able to deposit money into a secured card can qualify for one, so it is a great option for those wanting to build, or re-build a good credit score.

Cash back credit cards

These types of credit cards are generally given to those who have a good credit rating. Cash back cards have evolved and multiplied, giving the credit-savvy consumer a choice. Some cards offer an annual cash rebate that equals some percentage of the previous year's purchases. Others cards not only offer cash back, but other rewards as well like airline miles, gas rewards, investment products, and even charitable donations.

Reward point cards

An individual with a good credit rating can have the "pick of the crop" when it comes to selecting a card that offers reward points. These are similar to cash back cards except instead of receiving dollars, you get "points." Some people with lower credit scores may be able to obtain one of these cards, but may have to settle for higher interest rates or annual fees. You’ll have to decide if the rewards are worth the higher interest rate (in most cases, the answer is no). Some cards offer points for almost anything you purchase; the more you spend, the more you earn.

Airline credit cards

These cards are generally easier to obtain if you have a good credit score. They’re only useful, though, if you do a lot of traveling. These cards are not good for those who carry a balance from month to month, as the interest rates tend to be high. These cards offer a form of points or air miles that add up to free flights for card holders.

Student credit cards

There's a large selection of cards that are available to students. Some are secured cards and others are true credit (unsecured) cards. If it is a secured card, the student or parent can deposit money into the account and the student can use it to learn to manage credit. If it’s a conventional card, it may be tailor-made to suit the needs of various students. The better the credit rating a student has, the more selection he or she will be offered.

The Early Warning Signs of Debt

Rita Marshall — Tue, 08 Sep 2009 19:12:14 +0000

Overwhelming debt seems to catch people by surprise, but there are a few early warning signs of an impending credit problem that you should be aware of. Once you know what to look for, be quick to take action and turn your finances around.

Who’s the most likely to fall into debt?

According to Where Has the Money Gone?, a report released earlier this year by the Certified General Accountants Association of Canada, there are several demographic groups that are most likely to have credit problems. These are:

Young people
Households with children
Low-income households
Retired people

What are the early warning signs of debt?

The earliest warning signs of a credit problem include not having much money in your bank account but seeing high figures on your credit statements. As you shuffle money and credit around to try and make ends meet, you may see these additional warning signs, cited by Canada’s Office of Consumer Affairs as indicators of debt. They include:

Regularly paying bills after their due dates
Using cash advances on credit cards to pay off other credit cards (you may also be using cash advances for basic purchases, like rent or groceries)
Asking family and friends for money
Looking for a second job to make ends meet

How to beat early debt: make a budget

The first step is to create a budget. This will allow you to see how much money is coming in, and where your money is going. You may be able to slice some expenses right away, when you see how much a daily coffee or weekly pizza is costing you. Also, once you create a plan to get out of debt, your budget will be a trusted map to show you the way.

If neither a pencil and paper nor an Excel spreadsheet appeals to you, check out the Citizens Bank of Canada online home budget calculator. Simply put in your income and expenses and the calculator will give you a report of what’s costing you the most, how much you’re short each month, and what your debt ratio is.

Getting ahead of debt – reach out to creditors and counsellors

If you are having trouble paying back lenders, it’s wise to contact them. Let them know you’re having trouble and see what arrangements can be made to pay them back. Most creditors would rather get less of your money than not get any at all.

The OCA also recommends speaking with a debt counsellor, especially if you are having difficulty creating an effective budget. "The budget counsellor can also help you find other options if budgeting alone can't solve your financial problems," advises the OCA, who provides a list of credit counselors on their website.

Keep in mind that free credit counseling services are available for everyone. If your only sign of debt so far is a super-high credit card bill and a mediocre bank account, it may be a good idea to get help with a new financial strategy before things really get out of hand.

Beating debt and staying out of it – watch spending and your credit

Once you have your new financial strategy and budget in place, be extremely disciplined when it comes to spending. Your biggest purchases in the months that follow will be paying back debt, so now is not the time to increase your debt load any further. If you’ve racked up a lot of retail debt on things like entertainment, clothes and restaurants, you’ll need to look for more frugal options.

If you are in very early debt, your credit report may appear ok, but there’s only one way to be sure. Check your credit report from the two major credit bureaus regularly. Not only will this show you what lenders think about your financial situation, but when you start turning your finances around, your credit report will reflect what a good job you’ve done.

Can a Collection Agency Do a Hard Pull of My Credit Report?

Vanessa Chris — Thu, 03 Sep 2009 17:47:27 +0000

Question:

Can a collections agency request a copy of my credit file? I have recently received a consumer disclosure of my credit file and I notice that a collections agency has requested and received a copy of my file. I have not requested any credit from this collections agency and have not given them any permission to do a credit check.

On my consumer credit disclosure it says this collections agency has performed a "hard pull'. It's visible to my bank and any company I have applied to for a mortgage, and they are now asking me about this. How does this 'hard pull' affect my credit rating? Is it possible to have it removed? If not, how long does it remain on my credit file?

Answer:

Collections agencies can access your credit file – as long as it's in connection with the collection of a debt that you owe. Your credit file can also be accessed by your landlord, if you're entering into or renewing a tenancy agreement; your employer, if it's required for employment purposes; your insurance provider, if it's connected to the underwriting of your insurance; or any other situation that is prescribed by law or where a direct business need for the information exists.

According to TransUnion, as long as a company can prove that the credit check is for one of the above reasons, they don't need your permission to access your file. In the case of the collections agency, once the agency is responsible for collecting a debt, it is considered a 'creditor' and is able to pull your file without your permission.

If the viewing is credit-related, it will appear as a 'hard pull'. A 'hard pull' – or a 'hard inquiry' – is recorded for the benefit of creditors and lenders and is therefore viewed by others. It helps companies who are thinking about lending you money determine if you're a prime candidate, by allowing them to see how often you've applied for new credit, as well as if you've had any problems with that credit.

Soft inquiries, on the other hand, are recorded for your benefit. They allow you to keep track of the organizations that have accessed your information for other non-credit related purposes – such as the type of check performed by a landlord.

Both hard and soft inquiries stay on your report for six years from the original placement, but only hard inquiries affect your score – and in varying ways. For example, a few hard inquiries by credit card companies will actually improve your score, because they're helping you build a credit history. Too many, however, will negatively affect it because they'll give a creditor the impression that you're having financial troubles.

The good news in your situation is if you contact the collections agency and settle your debt, the 'hard pull' on your credit report will eventually draw less attention from prospective mortgage lenders and credit providers. The longer a debt is paid off, the better your score will become.

Save Money: Lower Your Credit Card Interest Rate

Karen Stephenson — Wed, 02 Sep 2009 20:35:52 +0000

If you consistently carry a balance on your credit card from month to month, lowering the interest rate can save you money. For instance, if you consistently have around $1,000 balance on your card, you could save almost $200 a year simply by lowering your interest rate a few percentage points.

Lowering your credit card interest rate might be as simple as making one phone call to your creditor. Your chances are very high in getting what you want if you:

Make your monthly payments on time
Have a low debt-to-income ratio
Pay more than the minimum
Don’t routinely "max out" your card

3 simple steps

If your credit standing isn't the best, there are a few simple steps you should take before contacting your creditor. The goal is to be prepared and make yourself look like an attractive customer to increase your chances of securing a lower interest rate:

Have you made your monthly payments on time? If not, this is your first step. As with any business, a customer who pays their debts on time is a valued customer. Be sure that there are, at minimum, three consistent months of timely payments under your belt. This way, you’ll have some leverage in your quest for a lower interest rate.
Research the interest rates of competing crediting cards. In today's market, there are dozens of credit card companies all competing for your business. Many of them have low interest rates, and some have added perks that include no annual fees and a points system to earn gifts. Jot down all this information so that you can quickly point to specific examples when negotiating with your credit card company.
Check out the web site of your credit card company. What rates are they offering potential new customers? If your rate is at 18.9% but they're offering new customers 6%, that provides you with some leverage.

Bargain away

Now that you have leverage, call the 800 number listed on your statement. Remember, there is so much truth in the saying, "Nothing ventured, nothing gained."

Tell the customer service representative that you're requesting for your interest rate to be lowered.
Be sure to make your request valid by stating you have been a loyal and creditworthy customer. Back up your claim with facts. Even if it has only been three months of consistent "on-time" payments, be sure to state you experienced some hardships but have established a track record that shows improvement.
After you have asked, you'll be put on hold as representatives must seek approval from their supervisors.
If the representative returns with "We are unable.....", then bring out the bargaining tools and state you will go to a rival company and have the entire balance transferred to a new card.

There's no harm in trying: you have nothing to lose and everything to gain. To help you with the credit-card-comparison process, visit Canadian Credit Cards for a comprehensive listing of cards. It’s also a good idea to check your credit report and score before speaking with your credit card company. This will let you see the information they see when evaluating you as a customer.

If you’ve called your credit card company recently to get an interest-rate reduction, tell us how it went in the comments section below.

Prevent Identity Theft: 10 Tips You Should Already Know

Wed, 02 Sep 2009 20:13:58 +0000

The following is a guest article from Bullseye at Colourful Money, a Canadian personal finance blog outlining tried-and-true, plus unique and unusual, ways to grow your wealth on a whole host of topics from RRSPs, taxation, real estate, child tax benefits, and more.

_________________

Going through an identity theft experience can be extremely frustrating, time consuming, and even costly. I have a good friend who has been the victim of identity theft repeatedly and it sure keeps me on my toes about the dangers and risks involved.

10 Tips to Prevent Identity Theft

Practice ATM safety. Hide your hand when entering your PIN. I actually go as far as ‘fake-punching,’ pretending to hit buttons, just in case.
Don’t use debit. Plenty of fraud originates from debit card use, that’s a proven fact. On top of that, avoiding debit can be lucrative for you.
Photocopy all wallet/purse contents. This will save you a ton of time if anything is lost or stolen. You’ll have a reliable reference for quick contact and cancellation.
Don’t keep your SIN card on you. There is no reason to do so, and it leaves you wide open if you lose your wallet or purse.
Secure your mailbox. Criminals can easily swipe your mail from a standard box. Use a locked box instead, or even have your mail sent to a P.O. box that is close by.
Monitor clerks when they have your cards. Clerks associated with criminals can scan your card under the counter, so try to watch it at all times.
Reduce your number of cards. More credit accounts mean more exposure to possible fraud. Only carry the cards you need in your wallet.
Check your credit regularly, at least once a year. It’s free and straightforward to get your free annual credit reports from Equifax and TransUnion.
Use secure passwords. Make it a mix of letters and numbers, if possible, and definitely memorize it. Friends in the industry tell me shocking percentages of people who keep their passwords or PINs written down in the same place as their cards.
Be computer safe. Use a firewall and virus protection, password-protect files, shop online with care, and drill a hole in your hard drive when your dispose of your computer.

The Bottom Line

You can’t completely prevent identity theft – there are other ways that criminals can access your data that you have no way of protecting against. But you CAN reduce your risk of exposure. Following the steps above will go a long way towards doing this. I follow these tips myself, and so far (fingers crossed), have never had to deal with any problems related to identity theft.

Watch Out for These Everyday Privacy Risks

Rita Marshall — Mon, 31 Aug 2009 18:18:43 +0000

Every little bit of information you give out about yourself has the potential to result in identity theft. While most of us are too smart to give our debit card PIN numbers to a stranger on the other end of the phone, we still give away a lot of personal information in the course of a regular day.

"Your name, address, credit card number and spending habits are all information of great value to somebody, whether that’s a legitimate marketer or an identity thief," advises Canada’s Privacy Commissioner. Canada’s Office of Consumer Affairs has created Privacytown, an online guide to protecting your privacy in everyday life. The risks they include in their list may surprise you:

1. At the pharmacy

The pharmaceutical industry is a competitive, multi-billion-dollar field. They are very interested in who you are, what medicines you’re taking, and who’s prescribing them for you. And your trusted local or chain pharmacy may be telling them. Pharmacies are taking their consumers’ privacy more seriously, but some will still sell your prescription history to a pharmaceutical company or health information database.

2. Donating to charity

When the nice charity canvasser came to your door or called you on the phone, you gave them $20 plus your name, address and phone number. Now you’re receiving calls and letters from all kinds of charities. How did they find out how generous you are and where you live?

"To save money, many charities sell or share their donor lists," writes Privacytown. "A group of charities may also hire a single service bureau to solicit contributions by telephone on behalf of the group." These practices not only risk your privacy, but can leave a sour taste in your mouth about your good deed.

3. Entering contests

You filled out your information on the ballot and…you won! Not the prize, of course, but lots of telemarketer calls and junk mail from other companies. Contests are a great way of gathering consumer information, and there are many companies willing to pay for personal data on potential customers.

Not identity theft, but still a problem: data mining and secondary uses of information

Sure it’s annoying that these other companies want to sell you stuff, but they’re not opening up credit cards or mortgages in your name. So what’s the problem? For one, the more places your personal information is stored, the more chances an identity thief has to nab it. And combining all the different bits of personal information out there can result in a database that gives more information away about you than you’d like.

Secondary uses of information, when a company uses your personal information after buying it from someone else, pose a clear risk – you never know who will buy your information next. It may be a legitimate company, it may be someone with bad intentions. No company is completely safe from hacks or internal information theft either. It’s one thing to trust a few institutions with your information, but when multiple companies have bought your personal data, you’re at a higher risk to lose it to a thief.

What you can do to protect yourself - PIPEDA

Since 2004, Canadian businesses have been required to follow the Personal Information Protection and Electronic Documents Act (PIPEDA). Under this act, companies must tell you what information they are gathering and exactly what they will use it for. They cannot collect or use it without your consent.

They must also protect your information and destroy it when it is no longer needed. You have the right to see what information they have on you, and the right to correct it if it’s wrong. If a company has failed to live up to its PIPEDA responsibilities, you have the right to complain to the company’s privacy officer. If that doesn’t work, you can lodge a complaint with Canada’s Privacy Commissioner.

Protect yourself from privacy risks by speaking up

Even easier than writing letters to a privacy officer or Canada’s privacy commissioner is to just speak up. Does the local electronics store want to know your postal code and birthday? "Ask how they will use it - and if you don't get a satisfactory answer, just say no," advises Privacytown. Ask your pharmacist or the charity canvasser what their privacy policies are. Think carefully before you enter contests too – a shot at a Hawaiian vacation isn’t worth giving your personal data away.

If you want to make sure you aren't already a victim of identity theft, check your credit reports carefully for unauthorized account inquiries and openings, and make sure there are no fraudulent transactions on your monthly credit card or bank statements.

What to Keep in Your Wallet to Minimize Identity Theft

Rita Marshall — Wed, 26 Aug 2009 18:59:45 +0000

Identity thieves turn to increasingly high tech methods to get at your personal information, but the good old wallet swipe still works like a charm too. What you keep in your wallet or purse will determine how much damage can be done, as well as how much hassle you’ll go through to replace everything. Here are some tips on what to keep in your wallet and what to leave at home to protect yourself against identity theft.

#1 - Keep driver’s license

"A driver’s license is the most universally accepted and trusted photo identification card issued by government," advises the government of Alberta. It not only proves you can drive " it also proves your age, your address, and in certain provinces, your signature. It’s almost too valuable to leave in your wallet – but the police officer who pulled you over for speeding won’t be very impressed if you explain that you don’t carry your driver’s license due to privacy concerns.

Instead, the Alberta government recommends that you guard your driver’s license closely. If you lose it, notify the authorities immediately and get a replacement. Since driver’s licenses are issued by individual provinces and territories, find your local transportation ministry or insurance corporation from this list to get a new one. In most cases, you will need to pay a fee and provide several other identity documents.

#2: Leave birth certificate

A birth certificate is a primary document, a proof of identity that lets you obtain other proofs of identity, like a driver’s license or a health card. But it really carries no day-to-day purpose. The bartender, for example, isn’t going to give you a beer when you flash him your birth certificate. The solution here is easy. Your birth certificate needs to stay at home in a secure place, like a safe.

If you lose your birth certificate, Service Canada has a list to show which ministry in your province can issue a new one for you. Ontario allows you to do the whole process online, while Manitoba cites security concerns and asks for mail or fax only. You will need to pay a replacement fee in either case.

#3: Keep health card

Although not as widely accepted as a driver’s license, the photo, information and signature on most Canadians’ health cards makes them valuable pieces of ID as well. And since you never know when you might end up in an emergency room or a doctor’s office, this is one identity document that should be kept in your wallet or purse.

Like driver’s licenses and birth certificates, health cards are a provincial responsibility. Service Canada also provides a list of provincial health care ministries if you need to get a new health card. Be sure to check beforehand which identity documents they require to issue you a new card. Some provinces, such as British Columbia, also require you to pay a fee.

#4: Leave Social Insurance number (SIN card)

The Alberta government has good advice for you, no matter which province or territory you live in. "Don’t carry your SIN card in your wallet, purse or car," they advise. "Keep it in a secure place like a safety deposit box."

Your SIN card is valuable, and it takes a lot of work to make sure a lost card doesn’t destroy your credit due to identity theft. If your SIN is lost or stolen, Service Canada recommends you:

Notify the authorities, and note the officer’s name and telephone number, as well as the case reference number.
Monitor your bills and statements. If anything seems wrong, contact your bank immediately.
Call Canada’s national credit bureaus, Equifax at 1-800-465-7166 and TransUnion at 1-866-525-0262 to get a free copy of your credit report. Make sure there is no suspicious activity. You may also want to ask the bureaus to flag your file as being at risk for fraud.

To get another SIN card, you will need to provide the federal government with a primary document, such as your birth certificate. You will also need supporting documents if your name has changed. Although you can apply by mail, why risk sending important identity documents? Visit the closest Service Canada Centre and apply in person.

More important tips on wallet safety

Don’t keep every credit card you have in your wallet or purse. Only keep the ones you use regularly.
Photocopy your identity documents and keep them in a safe place (even your birth certificate and SIN card, which should be in a safe place anyway). If you need to replace everything again, photocopies will come in handy.
Obtain your free credit report regularly to make sure someone hasn’t scanned or copied one of your documents and made a mess of your credit.