How to Check Your Credit Report for Free and Dispute Errors

Your credit report is the record lenders use to decide whether to approve you and at what rate. Errors on that report can cost you money — and they are more common than many people think. The good news: in Canada, you can check your credit report for free and correct mistakes yourself.

Where to Get Your Credit Report

Canada’s two national credit bureaus are Equifax Canada and TransUnion Canada. Both provide free access to your credit report, typically online through their websites, and by mail or phone if you prefer. Because lenders may report to one bureau but not the other, it is wise to check both.

Some banks and personal finance apps also show your credit score for free. These are helpful for tracking trends, but the full report from each bureau shows the detail you need to spot errors.

Checking Your Own Report Does Not Hurt Your Score

Requesting your own report is a soft inquiry. It has no impact on your credit score, so you can check as often as you like.

What Is on Your Credit Report

• Personal information: name, date of birth, current and past addresses, and sometimes employers
• Credit accounts: credit cards, loans, lines of credit, mortgages, and their payment history
• Inquiries: who has checked your credit and when
• Public records and collections: such as bankruptcies, consumer proposals, or debts sent to collection agencies

Common Errors to Look For

1. Accounts you do not recognize (a possible sign of identity theft)
2. Payments incorrectly marked as late
3. Debts listed more than once
4. Accounts shown as open that you closed
5. Old negative items that should have been removed by now
6. Incorrect personal details, such as a wrong address or misspelled name

How to Dispute an Error

1. Gather evidence: statements, payment confirmations, or letters showing the correct information.
2. Contact the credit bureau: both Equifax and TransUnion accept disputes online, by mail, or by phone. Explain the error clearly and include copies of your evidence.
3. Contact the lender as well: the company that reported the information can often correct it directly.
4. Keep records: note the dates, reference numbers, and names of anyone you speak with.
5. Follow up: the bureau will investigate with the lender. If the information is confirmed as wrong, it will be corrected. If not, you can usually add a brief consumer statement to your file explaining your side.

If You Suspect Identity Theft

If you see accounts or inquiries you did not authorize, contact both credit bureaus right away and ask about placing a fraud alert on your file. Contact the affected lenders, report the incident to your local police, and report it to the Canadian Anti-Fraud Centre.

How Often Should You Check?

Checking at least once a year is a good minimum, and more often if you are planning to apply for a mortgage or car loan, or if you are rebuilding your credit.

The Bottom Line

Reviewing your credit report is free, does not affect your score, and can save you from paying higher rates due to someone else’s mistake. Make it part of your yearly financial check-up.

This article is for general information only and is not financial advice.