How to Check Your Credit Report in Canada: Free Equifax + TransUnion Guide

1

Sign-up process:
1) Visit equifax.ca/personal;
2) Select “Equifax Consumer Credit Report” — Free Online Access;
3) Provide personal info (SIN, date of birth, address, phone);
4) Answer identity verification questions (recent credit card balance, lender names, etc.);
5) Set password → view report.

Free tier includes: full credit report + credit score (FICO® Score 8 or ERS 2.0).
Free check frequency: once per month (just log back in).
Paid tier ($14.95/mo): real-time change alerts, 3-bureau aggregation, identity theft insurance — most people don’t need it.

2

Sign-up process:
1) Visit transunion.ca;
2) Select “Free Credit Report” → create account;
3) Provide personal info and verify identity (same as Equifax);
4) Once registered, view report + VantageScore 4.0.

Free tier includes: full report + credit score.
Free check frequency: once per month.
Paid tier ($24.95/mo): real-time alerts, dual-bureau monitoring, score simulator — try one month before deciding.

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Phone:
• Equifax: 1-800-465-7166 (automated voice; provide SIN and identity)
• TransUnion: 1-800-663-9980
You’ll answer verification questions; the report is then mailed (2–3 weeks).

Mail:
Download the “Consumer Disclosure Request Form,” complete and mail to:
Equifax: P.O. Box 190, Station Jean-Talon, Montréal, QC H1S 2Z2
TransUnion: 3115 Harvester Rd, Suite 201, Burlington, ON L7N 3N8
Paper report arrives in 2–4 weeks.

These methods work when online verification fails — common for recent movers, new immigrants, or those with thin credit files.

1

Credit score: three-digit number (300–900) summarizing your overall credit risk.
• Equifax uses FICO® Score 8 or ERS 2.0
• TransUnion uses VantageScore 4.0
• 700+: good
• 740+: excellent — best mortgage rates
• Below 660: qualifying for prime credit becomes difficult

Credit report: the detailed history — every credit account, payment record, inquiries, public records (bankruptcies, collections). Mortgage lenders look at the report, not just the score — individual account status matters.

2

By weight:

1) Payment History (35%): on-time payments. A single 30-day late drops your score significantly.
2) Credit Utilization (30%): credit card balance vs limit. Target < 30%, ideal < 10%.
3) Credit History Length (15%): oldest account age. New immigrants struggle here; takes time.
4) Credit Mix (10%): credit cards + loans + installment.
5) New Credit Inquiries (10%): hard inquiries in the past 6 months.

6 months before house hunting: 1) Pay credit card balances down below 10%; 2) Avoid new credit applications; 3) Pull both reports to verify accuracy.

3

Common errors: paid-off accounts still showing balances, accounts you don’t recognize (identity theft), wrong addresses or names, the same debt reported multiple times.

Dispute process:
1) On Equifax/TransUnion site, find “Dispute” option;
2) Submit error description online (attach evidence: receipts, account closure confirmations);
3) Bureau investigates within 30 days (contacts the lender that reported the item);
4) Result via email or portal.

If both bureaus have the same error: dispute each separately — they operate independently.

1

If you plan to buy within a year, start now by pulling both bureau reports.

Targets:
• Score ≥ 700 (prime A-lender rates)
• Credit utilization ≤ 30% (ideally ≤ 10%)
• No 30+ day late payments
• No collections or bankruptcies in last 7 years

If you’re below these benchmarks, expect 6–12 months of consistent improvement — don’t wait until pre-approval to discover gaps.

2

New immigrants typically have thin credit files (< 2 years), making prime scores hard to reach immediately. Acceleration tactics:

1) Get a secured credit card (deposit-backed, limit equals deposit) — 6 months of on-time payments converts to unsecured;
2) Open 2 standard credit cards, low balances, paid in full each month — improves credit mix;
3) Avoid multiple hard inquiries in a short window;
4) Have your salary deposit history added to the credit file (some lenders allow);
5) 2–3 years of consistent records gets most new immigrants to 700+.

3

Myth 1: “Self-checks lower my score.”
Reality: Self-checks are soft inquiries — no impact, monthly is fine.

Myth 2: “Closing old credit cards improves my score.”
Reality: Closing old cards typically lowers the score — reduces credit history length and total available credit (utilization rises).

Myth 3: “Once I pay off a debt, it’s off the report.”
Reality: Paid-off positive accounts stay 6 years; negative items 6–7 years. Even paid collections remain on the file for 6 years.

Myth 4: “Equifax and TransUnion should be identical.”
Reality: Not at all. Lenders don’t always report to both — significant differences are common. This is why FCAC recommends checking both.