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Equifax Canada Inc is one of two credit bureaus which are private companies in Canada that (the other being TransUnion Canada) collect, store, and share information about how Canadians use credit. [1] Reports are provided for both individual and commercial entities. Owned by Equifax of Atlanta, Georgia, Equifax Canada is based in Toronto, Ontario.
In Canada, credit scoring is similar to the United States. Two of the three major credit bureaus (Equifax and TransUnion) operate in Canada, and scores range from 300 to 900, with a higher score ...
Equifax primarily operates in the business-to-business sector, selling consumer credit and insurance reports and related analytics to businesses in a range of industries. [citation needed] Business customers include retailers, insurance firms, healthcare providers, utilities, government agencies, as well as banks, credit unions, personal and specialty finance companies and other financial ...
Based in Burlington, Ontario, TransUnion Canada is one of two [1] credit reporting agencies in Canada. Like their main competitor, Equifax Canada , they now market their credit reports directly to consumers, in addition to their core business of providing the reports to potential creditors.
In Canada, credit monitoring is provided by Equifax and TransUnion, Canada’s two major credit bureaus. In addition to a free credit report and score, Equifax have a premium credit reporting service called Equifax Complete Premier, which lets you see your updated credit report and credit score daily, with alerts and ID protection tools.
In Canada, this has led to TransUnion and Equifax not offering any form of credit freeze (instead directing consumers to their paid identity monitoring services, which have been described as 'ineffective'), until the passage of Quebec's Bill 53, the Credit Assessment Agents Act. [6] [7] Lifting a credit freeze requires a PIN. [8]
A credit bureau is a data collection agency that gathers account information from various creditors and provides that information to a consumer reporting agency in the United States, a credit reference agency in the United Kingdom, a credit reporting body in Australia, a credit information company (CIC) in India, a Special Accessing Entity in the Philippines, and also to private lenders. [1]
Like Equifax, you can also unfreeze your credit report over the phone or by mail. Here’s how: Over the phone: Call 1-888-EXPERIAN (888-397-3742) and speak to a representative.