Credit Checks Canada

[Richard Huynh]

Hello Everyone,

I was wondering what types of credit checks are available in Canada.  With the recent news of Equifax - should we still be using that company or is there any others options that match what Equifax does?

As well, is there any issues or complaints about credit karma?  I'm interested in using it but would like other peoples intake on it before going any further.

Thanks for your help and input in advance! 

[Roy N.]

@Richard Huynh

In Canada, you can request a full credit history which will read in much the same manner as a credit history in the U.S.A. or elsewhere.  

However, do not confuse accessing your personal credit history directly from a credit bureau with accessing the credit history of others from the same bureau. 

To perform credit checks as a landlord, you could try to establish an account directly with Equifax or TransUnion, but most of us do not have the volume of credit history requests to justify the subscription costs, nor would most landlords have the security and privacy controls in-place.

You may be better served by using a credit agency such as RentCheck or Tenant Verification Services (TVS) as an intermediary:  they will have accounts with multiple credit bureaus and can provide you access to credit histories for both Canadian and U.S.A. applicants.   There is still a vetting process when you apply for an account, but qualification will be more easily achieved by a small business.