Your Right to a Free Credit Report in Canada
Under Canadian law and federal regulations, every person has the right to request a free copy of their credit report from the credit bureaus. Both Equifax Canada and TransUnion Canada must provide this upon request. There are no eligibility requirements — any Canadian resident can obtain their free report.
Key Rule: Checking your own credit report is a "soft inquiry" and has zero impact on your credit score. You should check your report at least once a year — more often if you're actively rebuilding credit.
How to Get Your Free Equifax Credit Report
Equifax Canada — Free Report Options
Option 1 — Online (Instant):
- Visit equifax.ca and create a free account
- Verify your identity through their online process
- Access your credit report and score online immediately
- Equifax offers ongoing free monitoring through their free tier
Option 2 — By Mail (Free, ~2–3 weeks):
- Download the "Consumer Disclosure Request Form" from equifax.ca
- Complete the form and include copies of two pieces of ID
- Mail to: Equifax Canada Co., Consumer Relations Department, Box 190 Jean Talon Station, Montreal QC H1S 2Z2
How to Get Your Free TransUnion Credit Report
TransUnion Canada — Free Report Options
Option 1 — Online (Instant):
- Visit transunion.ca and create a free account
- Complete identity verification
- Access your credit report instantly online
- TransUnion offers free ongoing monitoring and alerts
Option 2 — By Mail (Free, ~2–3 weeks):
- Download the credit disclosure request form from transunion.ca
- Include copies of two ID documents
- Mail to: TransUnion Consumer Relations, Box 338, LCD1, Hamilton ON L8L 7W2
What's Included in Your Credit Report?
- Personal information — Name, SIN (partial), date of birth, addresses, employers
- Credit accounts — All open and closed credit cards, loans, lines of credit with their payment history
- Payment history — Each account shows month-by-month payment ratings (R1 through R9)
- Inquiries — Hard and soft inquiries made on your file
- Collections — Any accounts sent to collections agencies
- Public records — Bankruptcies, consumer proposals, court judgments
- Banking information — Cheque/NSF history (not always included)
Understanding Credit Ratings (R Ratings)
| Rating | Meaning |
|---|---|
| R0 | Account too new to rate; approved but not used |
| R1 | Pays within 30 days of due date — BEST rating |
| R2 | Pays within 31–60 days; one missed payment |
| R3 | Pays within 61–90 days; two missed payments |
| R4 | Pays within 91–120 days; three missed payments |
| R5 | Account is at least 120 days past due but not rated R9 |
| R6 | Not used |
| R7 | Making regular payments through a consumer proposal or debt management plan |
| R8 | Repossession (not including voluntary surrender) |
| R9 | Bad debt; placed for collection; bankruptcy — WORST rating |
What Is Your Credit Score?
Your credit score is a three-digit number (300–900 in Canada) calculated from your credit report data. It's a snapshot summary of your creditworthiness. Your credit report contains the full detailed history; your credit score is the numerical summary lenders use for quick assessment.
- 760–900: Excellent
- 725–759: Very Good
- 660–724: Good
- 560–659: Fair
- 300–559: Poor
Frequently Asked Questions
Is Borrowell or Credit Karma free in Canada?
Yes. Borrowell provides free Equifax credit scores and reports in Canada. Credit Karma Canada provides free TransUnion scores and reports. Both are free, though they earn revenue by showing you relevant financial product offers. The scores shown may differ slightly from scores lenders use, but they are based on real bureau data and useful for monitoring trends.
How often should I check my credit report?
At minimum, check both Equifax and TransUnion once a year. If you're actively rebuilding credit, check monthly to track progress and catch errors early. If you've been a victim of identity theft, check more frequently and consider placing a fraud alert on your file. Regular monitoring is one of the best financial habits you can develop.
Why might my Equifax score be different from my TransUnion score?
The two bureaus receive information from different lenders (not all lenders report to both), use slightly different scoring models, and may have different information about the same accounts. Differences of 10–30 points are common and normal. Larger differences warrant checking both reports for errors or discrepancies.
Can I see what score lenders see when I apply?
The scores shown through free services (Borrowell, Credit Karma) are consumer-facing scores that may differ from the specific bureau score a lender sees. Lenders may use different scoring models (e.g., FICO) or pull scores from different bureaus depending on the product and lender. However, the free consumer scores are strongly correlated and a good approximation.
What is a fraud alert on my credit file?
A fraud alert is a notation you can place on your Equifax and TransUnion file that instructs creditors to take extra verification steps before opening accounts in your name. It's free to place and useful if you suspect identity theft. In Canada, fraud alerts are not as comprehensive as the US credit freeze option, but they add a layer of protection.
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