Understanding your credit report in Canada

Your credit report is the detailed record of how you have borrowed and repaid money in Canada, and you are entitled to see it for free. You can get a free copy from both of Canada's main credit bureaus, Equifax and TransUnion, and you have the right to dispute anything on it that is wrong. This guide explains what is on the report, how it differs from your credit score, how to pull it free from both bureaus, and how to fix mistakes.

Nothing here is financial advice. Always confirm the current process on the bureau's official page before acting.

Credit report vs credit score: what is the difference

These two terms get used interchangeably, but they are not the same thing. Your credit report is a summary of your credit history, built from information lenders send to the credit bureaus when you borrow money or apply for credit. Your credit score is a three-digit number calculated from the information in that report, showing lenders how risky it would be to lend to you.

In other words, the report is the underlying record and the score is a snapshot derived from it. As your report updates, your score changes too. For more on the number itself, see our guide on the credit score you need in Canada.

What is on your credit report

Your credit report contains personal, financial, and credit history information. In general, it takes 30 to 90 days for new information to be updated. Here is what you will typically find:

Section	What it shows
Personal information	Your name, date of birth, address history, and sometimes employment details, used to identify you
Credit accounts	Credit cards, lines of credit, loans, and mortgages, with limits, balances, and your payment history
Inquiries	A record each time a lender or business "pulls" your report; too many hard inquiries can concern lenders
Collections	Debts that were sent to a collection agency
Public records	Insolvency or bankruptcy records, and court judgments related to debt
Consumer statement	An optional note you can add to explain your side of a disputed item

Each account also shows a payment history, including any payments the lender reported as late. This is why reviewing the report closely matters: a single mis-reported late payment can drag down your score.

How to get your credit report free from both bureaus

You have the right to your credit report for free from both Equifax Canada and TransUnion Canada, through any of these methods. There is no cost for the standard report, though some companies sell extra monitoring services on top.

• Online. Both bureaus let you view and download your report online for free, updated monthly. With TransUnion this is called your Consumer Disclosure. Online access lets you see it right away.
• By mail. Use the request forms provided by each bureau. You will need copies of two pieces of acceptable ID, such as a driver's licence or passport.
• By phone. Both bureaus take free requests by phone. Equifax Canada is 1-800-465-7166 and TransUnion Canada is 1-800-663-9980.
• In person. Visit one of the bureau's locations and bring at least two pieces of identification.

Check both bureaus, not just one. Lenders may report to either Equifax or TransUnion or both, so an error or missing account at one bureau will not necessarily show up at the other. Note that ordering your own report is a soft inquiry and does not hurt your score.

How long items stay on your report

Most information ages off your report over time, but negative items stick around for years. According to Equifax Canada, the typical retention periods are:

Item	How long it stays (Equifax Canada)
Late or missed payments	Up to 6 years from the date reported
Accounts sent to collections	About 6 years
Court judgments	6 years
Closed accounts paid as agreed	Up to 6 years from when the lender reported them closed
Hard inquiries	Up to 3 years
Bankruptcy	6 years after the discharge date, or 7 years from the filing date with no discharge

A second bankruptcy is more serious: the first one reappears, and both can remain for 14 years. TransUnion's retention periods are broadly similar but can differ by item and province, so confirm with each bureau. The takeaway: negative marks are not permanent, but they linger, which is why building consistent positive history matters. See our guide on how to build credit in Canada.

How to fix an error on your credit report

You have the right to dispute any information on your report that you believe is wrong, and credit bureaus must correct genuine errors for free. Common errors include accounts you do not recognize, on-time payments marked as late, wrong balances, or stale information that should have aged off. An unfamiliar account can also be a sign of fraud or identity theft. Here is the FCAC process:

1. Gather your documents. Collect receipts, statements, and any records that prove your claim.
2. Contact the credit bureaus. Both Equifax and TransUnion have dispute forms for correcting errors. The bureau investigates by checking your claim with the lender that reported the information. If the lender agrees there is an error, the bureau updates your report.
3. Contact the lender too. You can speed things up by asking the lender directly to verify their files and send corrected information to the bureaus.
4. Escalate if needed. If you are not satisfied with the investigation, ask to speak with someone more senior at the bureau or your financial institution.
5. Add a consumer statement. If the dispute is not resolved your way, you can add a brief free statement to your report explaining your situation. Lenders may consider it when reviewing your file.

If you feel a bureau has not treated you properly, you can file a complaint. Start with the bureau directly. Because the federal government does not regulate credit bureaus, you can also contact your provincial or territorial consumer affairs office.

Why you should check your report regularly

The FCAC recommends taking a close look at your credit report at least once a year. Regular checks let you catch errors before they cost you a loan approval or a better interest rate, and they are one of the earliest ways to spot identity theft, since an unfamiliar account may mean someone applied for credit in your name.

Reviewing your report also helps you manage the factors that drive your score, like keeping balances low relative to your limits. See our guide on credit utilization in Canada for how that piece works. When you are ready to compare cards that fit your credit profile, browse our full list of Canadian credit cards.