Equifax Canada — Complete Guide to Your Credit Report & Score

Equifax is one of Canada's two major credit bureaus. Here's how to access your free Equifax credit report, what it contains, how to dispute errors, and how to monitor it ongoing.

What Is Equifax Canada?

Equifax Canada is a federally regulated credit reporting agency that collects financial information from lenders, creditors, and public records to build your credit file. Lenders use your Equifax credit report and score to assess the risk of lending to you. Under Canada's Personal Information Protection and Electronic Documents Act (PIPEDA), you have the right to access your own credit file for free.

What's In Your Equifax Credit Report?

• Personal information: Name, address history, SIN (partial), date of birth, employer history
• Credit accounts: Every credit card, loan, line of credit, and mortgage that reports to Equifax — including balance, limit, payment history, and account status
• Payment history: Month-by-month payment records for the past 6–7 years
• Hard inquiries: Every time a lender pulled your credit for an application, for 2 years
• Collections: Accounts sent to collections, for 6–7 years
• Public records: Bankruptcies, consumer proposals, judgments
• Banking information: NSF (insufficient funds) notices from some institutions

How to Get Your Free Equifax Credit Report

You have two main options:

• Option 1 — Borrowell (recommended): Sign up at borrowell.com with your name, address, and SIN. You receive your Equifax score (free, weekly) and full report instantly. No credit card required. This is the fastest and most convenient method.
• Option 2 — Equifax Canada directly: Visit equifax.ca to request your free annual credit report. You'll need to verify your identity. You receive the full credit file but the numerical score requires a paid subscription (or use Borrowell for the free score).

Understanding Equifax Credit Ratings (R-Ratings)

Rating	Meaning
R0	Too new to rate / not enough history
R1	Pays on time (best)
R2	Late 31–59 days
R3	Late 60–89 days
R4	Late 90–119 days
R5	Late 120+ days
R7	Consumer proposal or debt management plan
R8	Repossession
R9	Bankruptcy or bad debt written off (worst)

How to Dispute an Error on Your Equifax Report

• Step 1: Identify the error clearly — wrong balance, wrong status, account you don't recognize, late payment that was paid on time
• Step 2: Gather supporting documentation — bank statements, payment confirmations, letters from creditors
• Step 3: Submit a dispute through equifax.ca online dispute centre, or mail to Equifax Canada Consumer Relations, Box 190 Jean Talon Station, Montreal, QC H1S 2Z2
• Step 4: Equifax must investigate within 30 days and respond. If they find the error, it's corrected. If the creditor confirms the information, it stays.
• Step 5: If still disputed, add a consumer statement (100 words) to your file explaining your position

How Long Do Items Stay on Your Equifax Report?

• Late payments and negative account history: 6–7 years from the date of last activity
• Collections: 6–7 years from the date of last activity
• Consumer proposal: 3 years from completion date, or 6 years from filing (whichever is earlier)
• First bankruptcy: 6 years from discharge date
• Second bankruptcy: 14 years from discharge date
• Hard inquiries: 3 years (Equifax retains for 3 years; TransUnion 2 years)

Equifax Credit Monitoring — Is It Worth Paying For?

Equifax sells paid monitoring services starting around $20/month. For most Canadians, this is unnecessary. Borrowell provides free weekly Equifax score updates and full report access at no cost. The paid Equifax services add dark web scanning and identity theft insurance — potentially worthwhile if you've experienced identity theft before, but not essential for most people.