Where to Get Your Credit Report
| Bureau | Free Report | Online Access | Phone | |
|---|---|---|---|---|
| Equifax | Yes (1/year) | equifax.ca | 1-800-465-7166 | Equifax Canada, Box 190, Station Jean-Talon, Montreal QC H1S 2Z2 |
| TransUnion | Yes (1/year) | transunion.ca | 1-800-663-9980 | TransUnion, PO Box 338, LCD1, Hamilton ON L8L 7W2 |
Free Options Through Third Parties
| Service | Bureau Used | Score Included | Cost |
|---|---|---|---|
| Borrowell | Equifax | Yes | Free |
| Credit Karma | TransUnion | Yes | Free |
| Your bank | Varies | Sometimes | Free |
| Equifax Consumer Portal | Equifax | Optional | Free (report), paid (score monitoring) |
Sections of a Credit Report
1. Personal Information
| Field | What It Shows | Watch For |
|---|---|---|
| Full name | Legal name and aliases | Misspellings, wrong name |
| Date of birth | Your DOB | Incorrect date |
| SIN (partial) | Last digits only | Should not show full SIN |
| Current address | Where you live | Old addresses still listed as current |
| Previous addresses | Past residences | Addresses you don’t recognize |
| Employer | Current/past employers | Outdated information |
| Phone number | Contact number on file | Wrong numbers |
2. Credit Accounts (Trade Lines)
| Field | What It Means | Example |
|---|---|---|
| Creditor name | Who issued the account | TD Bank, Capital One |
| Account number | Partial account number | XXXX-XXXX-1234 |
| Account type | Type of credit | Revolving, installment, mortgage |
| Date opened | When account was opened | January 2020 |
| Credit limit / loan amount | Maximum credit or original loan | $10,000 |
| Balance | Current amount owing | $3,500 |
| Payment history | Monthly payment status | R1 (paid on time), R2 (30 days late) |
| Date of last activity | Last payment or transaction | March 2026 |
3. Credit Rating Codes
| Code | Meaning |
|---|---|
| R0 | Too new to rate, approved but not used |
| R1 | Pays within 30 days of billing, or on time |
| R2 | Pays 31-59 days after billing |
| R3 | Pays 60-89 days after billing |
| R4 | Pays 90-119 days after billing |
| R5 | Account is at least 120 days overdue |
| R7 | Making regular payments through a special arrangement (e.g., consumer proposal) |
| R8 | Repossession |
| R9 | Bad debt, placed for collection, or bankruptcy |
The letter prefix:
| Prefix | Account Type |
|---|---|
| R | Revolving credit (credit cards, lines of credit) |
| I | Installment loan (car loan, personal loan) |
| O | Open credit (student line of credit) |
| M | Mortgage |
4. Inquiries
| Type | Impact | Duration |
|---|---|---|
| Hard inquiry | Lowers score slightly (-5 to -10 pts) | Stays on report 3 years |
| Soft inquiry | No impact on score | Not visible to lenders |
Hard inquiries happen when you:
| Action | Hard Inquiry |
|---|---|
| Apply for credit card | Yes |
| Apply for loan or mortgage | Yes |
| Apply for rental lease | Sometimes |
| Check your own score | No (soft) |
| Pre-approval checks by lenders | No (soft) |
| Employer credit check | No (soft) |
5. Public Records
| Record | Impact | Duration on Report |
|---|---|---|
| Bankruptcy (first) | Severe | 6 years after discharge |
| Bankruptcy (second+) | Severe | 14 years after discharge |
| Consumer proposal | Serious | 3 years after completion |
| Judgments | Serious | 6 years |
| Registered items (liens) | Moderate | Until removed |
6. Collections
| Field | What It Shows |
|---|---|
| Collection agency | Who is collecting |
| Original creditor | Who you originally owed |
| Amount | What they claim you owe |
| Date assigned | When it went to collections |
| Status | Active, paid, settled |
How to Read Your Payment History
Monthly Payment Grid Example
| Month | Jan | Feb | Mar | Apr | May | Jun |
|---|---|---|---|---|---|---|
| Status | OK | OK | OK | 30 | OK | OK |
| Symbol | Meaning |
|---|---|
| OK / 0 | Paid on time |
| 30 | 30 days late |
| 60 | 60 days late |
| 90 | 90+ days late |
| — | No data / not due |
Common Errors to Look For
| Error Type | Examples |
|---|---|
| Wrong personal info | Name misspelling, wrong address, wrong DOB |
| Accounts not yours | Identity theft, mixed files (similar name) |
| Duplicate accounts | Same debt listed twice |
| Wrong balances | Balance higher than actual |
| Wrong account status | Shows open when closed, shows late when paid on time |
| Old negative items | Negative items past the reporting period |
| Unauthorized inquiries | Hard inquiries you didn’t authorize |
| Mixed file | Another person’s info merged with yours |
How to Dispute Errors
Step 1: Document the Error
| What to Gather | Why |
|---|---|
| Copy of credit report | Highlight the error |
| Account statements | Proof of correct information |
| Payment records | Bank statements, cancelled cheques |
| Correspondence | Letters from creditor confirming facts |
Step 2: File with the Credit Bureau
| Bureau | Online | Phone | |
|---|---|---|---|
| Equifax | equifax.ca/dispute | Write to Montreal address | 1-800-465-7166 |
| TransUnion | transunion.ca/dispute | Write to Hamilton address | 1-800-663-9980 |
Step 3: Dispute with the Creditor
| Action | Details |
|---|---|
| Write to the creditor | Explain the error with evidence |
| Request correction | Ask them to update the bureau |
| Keep copies | Document everything |
Step 4: Follow Up
| Timeline | Action |
|---|---|
| 30 days | Bureau must investigate and respond |
| If corrected | Bureau sends updated report |
| If not corrected | Re-dispute with additional evidence or file complaint with FCAC |
How Often to Check Your Credit Report
| Frequency | Reason |
|---|---|
| At least annually | Catch errors, monitor for fraud |
| Before major applications | Mortgage, car loan, rental |
| After paying off debt | Confirm updated balances |
| If you suspect fraud | Check immediately |
| After identity theft | Monitor monthly for 1-2 years |