Your credit report is the detailed record lenders use to assess your borrowing history — understanding what's in it, and how to read it, puts you in a much stronger position when applying for a loan.
What's Included
- Personal identifying information
- Credit accounts and their payment history
- Credit inquiries (soft and hard)
- Public records like bankruptcies or collections
Where to Get Your Report
Canadians can request a free credit report from both Equifax Canada and TransUnion Canada — checking your own report is a soft inquiry and doesn't affect your score.
What to Check For
Look specifically for errors — incorrect account balances, accounts that aren't yours, or late payments that were actually made on time. Errors are more common than most people expect and can meaningfully drag down your score.
How to Dispute an Error
Both bureaus have a formal, free dispute process — gather any supporting documentation and submit a dispute directly, which typically resolves within 30 days.