It is a good idea to request a copy of your credit report a.k.a. credit bureau from time to time from the two major credit-reporting agencies in Canada (Equifax and TransUnion). By doing so you will be able to verify that your personal information is up to date, your reported financial information is correct, and finally ensure that you have not been the victim of identity theft.
Your credit information may be kept by more than one credit-reporting agency in Canada, and since those agencies do not necessarily share information, it is important to check all your credit bureaus carefully.
How to Obtain Your Credit Report (Credit Bureau)
There are many ways to order your credit report, phone, fax, e-mail, however the easiest and safest methods are by mail or by Internet, with Internet being the fastest.
If you make your request in writing by mail, the credit-reporting agencies will provide you, by mail, with a free copy of your report. It is important, that in your request you include a copy of two pieces of government-issued identification (such as a driver’s license, health card, birth certificate or passport)—see the links below to ensure you are providing the correct documentation.
You can obtain a free credit report, however if you want your credit score it is $9.95 payable by credit card.
You can also order your credit report through the reporting agencies’ websites. This method is faster since you will receive your credit report online only a few minutes after you made the request. However, credit-reporting agencies charge a fee for providing you with an online copy of your credit report.
Depending on which report you choose $19.95-24.95
There are a few options with TransUnion
TransUnion Credit Profile for $14.95, Credit Score for $7.95, Debt Analysis for $7.95
How to Check Your Credit Score?
The only way you can obtain your credit score is online, through the two credit reporting agencies’ websites.
The fee charged for your credit score might be higher than the cost of receiving only your credit report online as indicated above. However, the cost of your credit score will include an online copy of your credit report. You will receive your credit score (and credit report) online a few minutes after you have made the request.
To get copies of your credit report and credit score follow my links above to connect with Equifax and TransUnion.
How Can I Get Reported Errors Corrected?
When you receive your credit report, make sure the information contained is correct and up to date. If you believe that the information in the credit report is incorrect, follow these steps.
1. Contact the Credit-Reporting Agency
Before the credit-reporting agency can make a correction on your credit report, it will have to contact the financial institution that reported the information to see if an error was made.
If the financial institution agrees that an error was made, the credit-reporting agency has 30 days (with the exception of Alberta that allows 90 days) to correct your credit report.
If the financial institution says that the information reported is correct but you are still not satisfied, you can submit a brief statement to the credit reporting agency, explaining your side of the story. The statement you provide will be added to your credit report.
Equifax Dispute Resolution Process
TransUnion Dispute Resolution Process
2. Contact Your Financial Institution
To avoid any delays in getting the errors on your credit report corrected, you can contact the financial institution that provided the incorrect information to the credit-reporting agency and ask the financial institution to follow up with the credit-reporting agency directly.
If the error came from your financial institution and the institution will not correct the error, ask for information on its complaint-handling process.
Financial institutions that are regulated by the Government of Canada are required, by law, to have a process in place to resolve disputes between consumers and financial institutions.
Credit Bureau Agency’s Contact Details
National Consumer Relations
P.O. box 190, Station Jean-Talon,
All provinces except Quebec:
Consumer Relations Centre
P.O. Box 338, LCD 1
For Quebec Residents:
TransUnion (Echo Group)
1 Place Laval, Suite 370