Please see information on Credit Reports below.


Credit Reports and Credit Report Agencies

What is a Credit Report?

A credit report is created from the moment you first apply for credit / borrow money. The report provides a history of how well you are able to pay your financial obligations. Lenders, banks, credit unions and retailers regularly send information about your financial 'relationship' with them to the credit report agencies.

What is in my Credit Report?

Your credit report contains important information, including:

  • Personal data including name, address, date of birth and SIN (Social Insurance Number)
  • Credit Information including details of your credit applications, any loans/cards held and your ability to manage them well
  • Banking Information including your NSF cheque history and bank account details
  • Public Record Information including information of any bankruptcies, judgements and secured loans
  • Third Party Collection which is information of any involvement you have with debt collection agencies
  • Optional Consumer Statement which allows you to make some comments about any information in the report
  • Inquiry List including all of the companies/individuals who have requested a copy of your report in the last 3 years

Can Anyone View my Credit Report?

Your credit report can be accessed by the main credit report agencies and from lenders and banks but the laws regarding who can review and access your report are strictly governed by provincial and federal authorities. In order to review your credit report, a company (or individual) must ask for your consent or must inform you prior to carry out a review.

Additionally, a company/individual can only review your credit report if they have a permissible purpose (stated in Government regulations) or a legitimate business reason for doing so.

Loan or credit card applications usually carry a clause which you asks you to consent to giving permission to the company to check your report when you apply and throughout the loan/card period. You can see who has reviewed your report because a note is made of each request for three years.

Can I Access my Credit Report?

Yes. This was once only possible by requesting a paper copy from one of the main credit reference agencies (see who they are below). Now, you can apply to view your report online on a regular basis thanks to a wide range of services that offer access to your report for a regular subscription. Most of the main credit agencies offer this service.

Why Should I Regularly Check my Report?

Checking your credit report on a regular basis is one way to prevent identity fraud, keep tabs on who is requesting to view your file, correct any errors and take steps to improve your credit rating.

Much as it is a frightening fact, identity fraud takes place all over Canada and many innocent citizens find their personal information in stolen for criminal use. Sophisticated fraudsters get your information (such as your banking details) and use this to make purchases, rent properties and all kinds of criminal activity.

Many people are the victim of Identity fraud for a long time without even realizing it. By viewing your report on a regular basis you can act quickly if you think someone has gotten hold of your personal details.

You can also gather useful hints and advice on how to improve your credit rating for the future and correct any errors such as update an old address or other important detail which is sometimes overlooked by credit report agencies.

What is a Credit Report Agency?

Your credit information is gathered by credit report agencies (sometimes called credit reference agencies or credit bureaus). In Canada there are two main credit report agencies: Equifax Canada Inc. and TransUnion of Canada. They are governed by both federal and provincial laws and only members of each agency can access your information.

Members are banks, lenders, auto leasing firms, credit card companies and other financial firms. Companies may only access your report if they first request your consent or inform you prior to taking a review of your report.


Please Note: is not authorised to give advice under provincial and federal regulations.

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