Unlike some countries that have a single credit bureau, Canada has two: Equifax and TransUnion. Both track your credit history, but they don't always have the same information, which means your scores can be different between them.
Why Two Bureaus?
Equifax and TransUnion are private companies that compete for business from lenders. When you open a credit account, the lender decides which bureau(s) to report to. Some report to both, some report to only one.
This is why you might have an account showing on your Equifax report but not on TransUnion, or vice versa.
Which One Do Lenders Use?
Different lenders prefer different bureaus. Banks tend to check both. Mortgage lenders almost always check both. Auto dealerships and cell phone companies might only check one.
The problem is you never know which one a lender will check. That's why it's important to monitor both reports and ensure they're accurate.
How to Check Your Reports
You're entitled to a free credit report from each bureau once per year. You can request them online at equifax.ca and transunion.ca. Note that the free reports don't include your score, but they do show all your accounts and any negative items.
For your score, you'll need to pay or use a service like Borrowell (uses Equifax) or Credit Karma (uses TransUnion).
What If They're Different?
If your scores are significantly different between bureaus, it usually means one has information the other doesn't. This could be an account you didn't know about, an error, or a collection that was only reported to one bureau.
Disputing errors on both bureaus is essential if you want to maximize your score. We can help you identify discrepancies and dispute inaccurate items on both Equifax and TransUnion.