Credit Bureau
A credit bureau (also called a credit reporting agency) is a company that collects, maintains, and sells credit-related information about consumers. When you take out a loan, open a credit card, or miss a payment, your lender typically reports that activity to one or both credit bureaus. Bureaus compile this data into your credit report and calculate your credit score, which lenders then access (with your permission, via a hard inquiry) when you apply for new credit.
Credit bureaus do not make lending decisions — they simply provide data. Each lender decides its own criteria for approval based on the bureau’s report.
Quick Facts
| Bureau | Contact | Score Range |
|---|---|---|
| Equifax Canada | equifax.ca | 300 – 900 |
| TransUnion Canada | transunion.ca | 300 – 900 |
| Free annual report | Both bureaus | Yes — by law |
| Credit monitoring | Available from both | Paid subscription |
| Data retention | Negative items: 6–7 years | Varies by province |
Canadian Context
Canada has exactly two major credit bureaus — Equifax and TransUnion — unlike some countries with additional reporting agencies. All federally regulated financial institutions are required to report to at least one bureau. Some lenders report to both; others report to only one. This means your credit file may look slightly different at each bureau, and your scores may differ by a small margin. Under the Personal Information Protection and Electronic Documents Act (PIPEDA) and provincial privacy laws, you have the right to access your credit report for free at least once per year from each bureau. Errors on your report can be disputed in writing and must be investigated by the bureau.
Related Glossary Terms
Information on this page is provided for general educational purposes. Credit bureau policies and data retention rules vary by province — visit equifax.ca or transunion.ca for official information.