Canada has two national credit-reporting bureaus: Equifax Canada and TransUnion Canada. Both collect credit information and produce the reports and scores lenders use.

Canada's two national credit-reporting bureaus

Credit bureau	Official website	Free credit report
Equifax Canada	equifax.ca	Available from the bureau; see FCAC guidance on requesting your own report
TransUnion Canada	transunion.ca	Available from the bureau; see FCAC guidance on requesting your own report

Canada has two national credit-reporting bureaus: Equifax Canada and TransUnion Canada. Both collect information from lenders, utilities, and other creditors, and both produce the credit reports and scores that lenders rely on. Under Canadian rules you can request a copy of your own credit report, and the Financial Consumer Agency of Canada explains how. This page covers who the bureaus are, what a report contains, and how co-signing appears on a file.

The two national bureaus

Equifax Canada and TransUnion Canada operate nationwide. A lender may report to one or both, which is why your information can differ between them and why it is sensible to check both files. The bureaus do not decide whether you get credit; they supply information and scores to lenders, who apply their own criteria. The FCAC's credit reports and credit scores page is a good starting point for understanding the system.

What is in a Canadian credit report

A credit report typically includes identifying information, a list of credit accounts and their payment history, information about collection accounts and public records where applicable, and a record of inquiries made when someone requests your credit information. The report is a history, not a judgment. Lenders read it to assess how you have handled credit and how much you currently owe.

Because the report drives the score, errors in the report can distort the score. Common errors include accounts that belong to someone with a similar name, payments reported late when they were on time, and balances that have not been updated. If you spot an error, the bureau has a process for disputes, and you should keep copies of anything you send. Correcting the report is usually the first step to correcting a score.

How to get your credit report

Canadian consumers can request their own credit report from each bureau. The FCAC explains the options, which generally include requesting the report by mail and, depending on the bureau, accessing it online. Because the two bureaus hold separate files, requesting from both gives you a complete picture. When you request your own report, that request is not treated the same way as a lender's hard inquiry for the purpose of scoring, but you should still confirm the current treatment with the bureau.

It is also worth knowing the difference between a credit report and a credit score. The report is the underlying record; the score is a number calculated from it. Some services provide the score without the full report, and some provide the report without the score. If you are checking for accuracy, the report is the document you need.

How co-signing appears on a report

1. The co-signed account may be reported on both the borrower's and the co-signer's credit file.
2. On-time payments can contribute positively to both files, depending on how the lender reports the account.
3. Missed payments can appear on the co-signer's file and can affect the co-signer's score.
4. The debt may be counted in the co-signer's total obligations when a future lender assesses capacity.
5. If a release is granted, confirm with the lender and the bureau how the account will be reported going forward.
6. Monitor the account so you learn about a missed payment before it becomes a default.

Common mistakes

The most common mistake is checking only one bureau and assuming the other file matches. Another is confusing a free score with the full report and missing errors that only appear in the report. A third is co-signing without asking how the account will be reported, which can lead to a surprise when applying for credit later.

• Do not assume both bureaus hold identical information.
• Do not rely on a score alone; review the report for errors.
• Do not co-sign without confirming how the account is reported.
• Do not ignore collection entries; understand what they relate to.
• Do not use unofficial look-alike sites when requesting your own report.

The bureaus are private companies, but the information they hold about you is regulated, and you have the right to see it and to dispute errors. Because lenders may report to only one bureau, and because each bureau calculates scores with its own model, your two files can tell different stories. Reviewing both is the only way to see the full picture a lender might see when it assesses an application.

It is also worth understanding what does not belong in a report. A report should contain credit-related information and certain public records, not your medical history, your religion, or unrelated personal details. If you see information you do not recognise, ask the bureau to explain its source before you accept it. Inaccurate information can affect a lending decision, and correcting it is usually within your control if you are persistent and keep records.

If you are preparing for a major application such as a mortgage, review both reports well in advance. Errors take time to correct, and a disputed item can slow an application. Ordering the reports early gives you room to fix problems before a lender is looking at the file. It also gives you a baseline so you can see how your file changes over time.

Remember that the bureaus do not approve or decline credit. They supply information and scores, and the lender makes the decision using its own criteria. If you are declined, the lender should explain the main reason, and you can use that explanation to decide whether the issue is your report, your capacity, or the product you applied for.

For co-signers, the key point is that a joint account can appear on both files. That means the way the borrower handles the loan can show up on the co-signer's report, which is why monitoring the account matters. Ask the lender how it reports the account and check your own report to confirm that what appears matches what you agreed to.