How to Get Your Free Credit Report in Canada

There are a few ways to get your free credit report in Canada, including requesting it from either of the 2 major credit bureaus or using a third-party service. Most Canadian banks also offer complimentary credit score-related services.

Since lenders and employers use credit reports to make big decisions, ensuring that your credit report is accurate is important. Paying to check your score and report can add up, so make sure you're not spending unnecessarily.

In this article, we highlight some of the most popular third-party credit score and reporting services and discuss the major credit bureaus and big banks that offer these services for free. We also offer tips on what to look for in your credit report.

How to get your free credit report in Canada

There are quite a few places where you can get your credit score for free. Take a look at the credit monitoring bureaus, third parties, and banks where you can get your free report.

Equifax

Equifax is one of the 2 major credit bureaus in Canada. As such, they're legally obligated to provide you with access to your credit file only once a year. Equifax goes beyond that, though: they'll give you access to an updated report every month, plus access to your credit score.

Just head to the Equifax website and log in or register. You'll get instant access to your credit report, but if you prefer a paper copy, you can download and print it at any time. Equifax also offers various credit monitoring services for a monthly fee.

TransUnion

TransUnion is the other major credit bureau in Canada, which means they're also required to provide your credit report, called a consumer disclosure, free of charge.

TransUnion gives you a few options for getting your credit report:

• By phone
• By mail
• Online
• In person

However, unlike Equifax, TransUnion won't give you access to your credit score. They're not required to give this as part of a consumer disclosure.

Borrowell

There are a few third-party sites that offer access to both your credit file and score. While these sites don't charge you anything for access, they have many affiliate relationships. They'll send you emails and notifications to sign up for one of these products.

Borrowell is one of the more popular companies. They'll give you an updated report and score weekly. However, you'll also get bombarded with emails and notifications trying to get you to sign up for products like credit cards, loans, mortgages, and insurance.

Credit Karma

Credit Karma is another third-party site (like Borrowell) that offers free access to your TransUnion credit report and score. Credit Karma is part of the Intuit family, which you may know best as the owner of QuickBooks.

Credit Karma updates your credit score and file once per week for you to review. Like the other third-party sites mentioned here, be prepared for them to try to get you to sign up for one of their affiliate products.

ClearScore

ClearScore isn't quite as well-known as Borrowell or Credit Karma – it's a British credit monitoring service that's newly available in Canada. Like the other sites, you can sign up for a free account to get your credit report at no cost.

ClearScore also offers a paid credit monitoring service that includes identity theft insurance, as well as personalized credit card offers.

KOHO

KOHO is well-known for its credit-building products, but one feature of a KOHO premium subscription is access to free credit reports.

Note that if you're building credit with a KOHO Essential or Extra plan, you can't get your report through KOHO for free. Only KOHO Everything members get everyday access to free credit reports that are updated monthly. This membership plan costs $14.75 per month.

Your bank

If you have a bank account from a big bank, they also offer free access to your credit score and report. All 5 big banks (BMO, CIBC, RBC, Scotiabank, and TD) use CreditView, which provides your TransUnion report.

You can access your CreditView report on your bank's website or mobile app. We should also mention that they update the scores around once a month.

How often should you check your credit report?

The Financial Consumer Agency of Canada recommends spacing out your credit report requests to keep tabs on your credit.

Specifically, they advise getting your credit report from 1 bureau and then waiting 6 months before requesting your report from the other bureau. This way, you check your credit report at least twice a year and get info from both bureaus.

What to do if you find an error on your credit report

Errors on your credit report might not seem like a big deal, but lenders review your report carefully when you're applying for credit. Those errors could damage your score and might even be a sign that someone is trying to steal your identity, so correcting them as soon as you spot them is important.

Here are some of the errors to look for:

• Incorrect personal details
• Mistakes with your credit card or loan accounts
• Accounts listed that you didn't open
• Negative information that should have fallen off of your report

If you find errors, contact Equifax and TransUnion to dispute them by completing an online form describing what's inaccurate. Then, the credit monitoring bureau will investigate the error and update your report.

It typically takes a few weeks for the bureaus to investigate errors. They should contact you once they have a result.

FAQ

Can you tell me how to get a credit report for free?

You can access your credit report for free directly from the 2 major credit monitoring bureaus, Equifax and TransUnion – but some banks also offer free credit reports. You also have your choice of third-party services that give free credit reports and sell financial products or monitoring services.

What's the best way to get free credit report monitoring?

The best way to get credit report monitoring is as a free perk of your bank or credit card. Don't pay money for a credit monitoring service until you check to see if you already have it as a perk through one of your existing accounts.

Which credit report is best in Canada?

Equifax and TransUnion may collect different information, which is why your credit score may vary and your credit reports might look a little different, but neither report is better than the other. This is why it's recommended that you check both credit reports regularly.

Is an Equifax credit report free in Canada?

Yes, as one of the country's major credit bureaus, Equifax is required by law to give Canadians free access to their credit reports. You can request a copy of yours online, by mail, over the phone, and in person, although it's probably fastest to access the report online.

How do I get my TransUnion free credit report?

The easiest way to get your free TransUnion credit report is to access it online. But you can also submit a request by mail, over the phone, or in person. Keep in mind that you'll have to submit identification to back up these requests, which means they typically take longer to process.