Equifax vs TransUnion: understanding both
In Canada you have two credit files — not one. Here is why they differ and how to check them for free.
Canada has two major credit bureaus: Equifax Canada and TransUnion Canada. Each compiles your credit history independently — and they are not always identical.
Mortgage lenders may check one, the other, or both. Knowing both files gives you a complete picture — and can reveal errors hurting your score without your knowledge.
Equifax vs TransUnion — key differences
Equifax Canada
equifax.ca
- infoEquifax Risk Score (ERS), 300–900 range
- infoFree online report available once per year
- infoUsed by many large Canadian banks
- infoBorrowell provides your Equifax score for free
- infoMay differ slightly from TransUnion depending on which creditors report
TransUnion Canada
transunion.ca
- infoTransUnion score, 300–900 range
- infoFree online report available
- infoUsed by other financial institutions
- infoCredit Karma provides your TransUnion score for free
- infoMay include slightly different information than Equifax
Hard inquiries vs soft inquiries
Hard inquiry
A hard inquiry happens when you apply for credit — credit card, car loan, mortgage. It appears on your file and may lower your score by a few points.
- • Mortgage application
- • New credit card
- • Auto financing
- • Can remain visible for several years (up to 3 years at Equifax Canada)
Soft inquiry
A soft inquiry happens when you check your own credit, or when a creditor does a routine check. It does not affect your score.
- • Borrowell, Credit Karma (free)
- • Employer background check
- • Pre-approved offers you receive
- • Does NOT affect your score
Errors on your report? Here is what to do
Errors can appear on a credit report — sometimes without your knowledge. That is why it is important to check both Equifax and TransUnion before any mortgage application.
Get both reports
Download your full report (not just the score) free from equifax.ca and transunion.ca.
Spot the errors
Look for: accounts you do not recognize, wrong balances, inaccurate late payments, incorrect personal details.
Dispute online
Submit a correction request on the bureau’s website. The bureau typically has 30 days to investigate and update the information.
Questions about your credit files?
We can help you interpret your Equifax and TransUnion reports and prioritize fixes before your mortgage application.
Contact us →