Credit reporting in Canada
Equifax Canada and TransUnion Canada are the two national credit reporting bureaus. Lenders may obtain a report from one or both when you apply for credit.
The two bureaus
Equifax Canada and TransUnion Canada collect credit information from lenders and provide reports to lenders who request them. You have the right to access your own report.
Hard and soft inquiries
- A hard inquiry happens when you formally apply for credit. It may affect your credit score.
- A soft inquiry happens when you check your own report or a lender pre-screens you. It does not affect your score.
What appears on a report
- Your accounts and their payment history.
- Credit inquiries made about you.
- Public records such as bankruptcies and consumer proposals.
- Personal identifying information.
Correcting an error
If you find an error, dispute it with the bureau in writing and provide supporting documents. PIPEDA gives you the right to request correction of personal information held about you.
Source: PIPEDA — Personal Information Protection and Electronic Documents Act — Office of the Privacy Commissioner of Canada. Retrieved 2026-09-16.
Source: FCAC — Costs of different types of credit — Financial Consumer Agency of Canada. Retrieved 2026-09-16.
Sources
- PIPEDA — Personal Information Protection and Electronic Documents Act — Office of the Privacy Commissioner of Canada
- FCAC — Costs of different types of credit — Financial Consumer Agency of Canada
Frequently asked questions
How do I get my credit report in Canada?
You can request your report directly from Equifax Canada and TransUnion Canada. Both bureaus offer a free disclosure option.
Does checking my own credit affect my score?
No. Checking your own report is a soft inquiry and does not affect your credit score.
How do I dispute an error on my credit report?
Contact the bureau in writing with the details of the error and any supporting documents. You can also contact the lender that reported the information.
Important legal information
Promissory.ca is not a lender, bank, mortgage broker or credit counsellor. We do not make lending decisions and we do not charge you a fee to use this service.
Submitting an application does not guarantee approval. All applications, rates and terms are set and approved solely by the individual lender or licensed professional.
Rates, fees and loan amounts vary by lender, province, loan type and your credit profile. Advertised rates are the lender's lowest offered rate and may not be available to you.
Lenders may perform a credit check with one or more credit bureaus, including Equifax and TransUnion. A hard credit inquiry may affect your credit score.
There is no obligation to accept any offer presented to you. Review every agreement carefully before signing.
Borrow only what you can reasonably afford to repay. Late or missed payments may result in additional fees, collection activity and negative credit reporting.
We handle personal information in accordance with the Personal Information Protection and Electronic Documents Act (PIPEDA). See our Privacy Policy for how we collect, use and protect your information.
If you are struggling with debt, consider contacting a non-profit credit counselling service or a Licensed Insolvency Trustee before borrowing more.