Having ready access to your credit report helps you keep tabs on the state of your financial health. The good news is Canadians can get a free credit report from Equifax and TransUnion.
It’s best to compare your credit report from both credit bureaus since they may provide you with different credit scores. So, to get started, here are several ways to order your credit report.
Request by mail
- Download and complete the forms provided by Equifax and TransUnion.
- Provide front and back copies of two forms of Canadian Government-issued ID.
- Provide your Social Insurance Number (optional but advantageous)
- Mail the proof of ID and completed forms to the appropriate credit bureau.
- After your identity is verified, your credit report is mailed to your confirmed address.
Request by phone
Make sure you have your Social Insurance Number on hand when you call the following numbers:
- TransUnion Canada. 1(800) 663-9980 (Prompt 1)
- Equifax Canada: 1-800-465-7166
These are interactive voice systems, so simply follow the prompts. Once you verify your identity, your credit report will be delivered to your home address via mail.
Request in person
- Visit the nearest Equifax and TransUnion office locations.
- Ask for a “credit file disclosure” from Equifax and a “consumer disclosure” from TransUnion.
- Bring along required documentation, such as proof of ID and proof of address.
Request Online
Getting your credit report online from Equifax is instant, but it might cost a small fee. However, TransUnion provides free monthly credit reports.
Fixing credit report errors
Once you have your credit report, the next thing is checking for errors and making sure the information it contains is accurate and up to date. If you find any incorrect listings, you can file a dispute with Equifax Canada or TransUnion Canada.
Getting your credit score vs your credit report
While your credit report contains a detailed record of your past financial behavior, your credit score is a three-digit number that rates the information in your credit report. The higher the rating, the more creditworthy you are and the less risk you pose to credit providers.
You may have to pay a fee when ordering your credit score online from Equifax or TransUnion. Some companies provide services that allow you to check your credit score for free online.
However, you should always verify the legitimacy of these companies and be wary of giving away sensitive and personal information to any entity other than the nationally recognized credit bureaus.
When to check your credit report
It’s recommended that you check your credit report at least once a year. Frequently checking your credit report enables you to have a better sense of your financial health. Since checking your credit report doesn’t impact your credit score, there’s no reason why you shouldn’t keep updated with what’s in your file.
If you’re willing to pay, you can sign up for credit monitoring services that notify you of any significant changes to your credit file. You can get these services from both Equifax and TransUnion Canada.