Credit Report
Your credit report is a comprehensive record of your credit history maintained by Canada’s two major credit bureaus, Equifax and TransUnion. It documents every credit account you’ve opened or applied for, your payment history on each, your current balances, credit limits, and any hard inquiries made by lenders. It may also include public records such as bankruptcies or consumer proposals.
Lenders use your credit report — accessed via a hard inquiry — to make decisions on credit applications. Landlords and some employers may also request a version of your credit report (with your consent). The credit score you see is derived from the information in your credit report.
Quick Facts
| Detail | Value |
|---|---|
| Free annual report | Available from equifax.ca and transunion.ca |
| What’s included | Accounts, payment history, balances, inquiries, public records |
| Negative items stay | Typically 6–7 years (varies by province and item type) |
| Bankruptcy (consumer proposal) | 3 years after discharge (Equifax) |
| Errors | Can be disputed in writing; bureau must investigate |
| Lender access | Requires your consent (hard inquiry) |
Canadian Context
In Canada, you are legally entitled to one free credit report per year from each bureau, available by mail or online. Equifax and TransUnion both offer free online access through their websites (equifax.ca and transunion.ca). If you find an error — such as a missed payment that was actually paid on time or an account you don’t recognize — you can file a dispute directly with the bureau, which is obligated to investigate and correct legitimate errors. Under Canadian privacy law (PIPEDA), you also have the right to know who has accessed your credit report in the past. See our credit scores guide for more context on how reports and scores interact.
Related Glossary Terms
Information on this page is provided for general educational purposes. Credit report policies and data retention rules vary by bureau and province — visit equifax.ca or transunion.ca for official information.