Credit Reports and Bureaus
Canada-first explanations of credit reports, Equifax Canada, TransUnion Canada, inquiries, tradelines, and file review.
This section explains how Canadian credit-reporting language works in practice. It covers the report itself, the role of the credit bureaus, the account and inquiry records that appear on a file, and the terms readers encounter when they review their own disclosure.
Readers usually land here after receiving an approval decision, pulling a consumer disclosure, checking for errors, or trying to understand what Equifax Canada or TransUnion Canada is actually reporting.
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In this section
- Credit Report
A credit report is the bureau summary that shows a consumer's reported accounts, inquiries, and other file information.
- Credit Check
A credit check is a review of a borrower's credit file for a defined purpose such as lending, account review, or self-monitoring.
- Credit Bureau
A credit bureau is an organization that collects, maintains, and provides consumer credit-file information.
- Equifax Canada
Equifax Canada is one of the main consumer credit bureaus Canadian borrowers encounter.
- TransUnion Canada
TransUnion Canada is one of the main consumer credit bureaus Canadian borrowers encounter.
- Hard Inquiry
A hard inquiry is a credit check linked to an application for new credit or another permission-based lending review.
- Soft Inquiry
A soft inquiry is a file review that is not typically tied to a new-credit application.
- Tradeline
A tradeline is the report entry for one credit account or reported borrowing relationship.
- Report Error
A report error is inaccurate, incomplete, outdated, or mixed-file information that appears on a credit report.
- Derogatory Information
Derogatory information is report data that suggests repayment problems, elevated credit risk, or past account trouble.
- Public Record on a Credit File
A public record on a credit file is a bureau entry tied to certain court-linked or insolvency-related events that may be reported.
- Address History on a Credit Report
Address history on a credit report is the list of current and former addresses associated with a consumer's file.
- Reporting Account Status
Reporting account status is the label or code that shows the current condition of a credit account on a report.