Credit in Canada, explained
A mistake on your credit report costs you. Find it before the bank does.
New to Canada and building your first credit file? Or getting back on your feet after a hard time? We explain how credit works here, for your province, in the words people actually use.
Pick your province
- British Columbia
- Alberta
- Saskatchewan
- Manitoba
- Ontario
- Quebec
- New Brunswick
- Nova Scotia
- Prince Edward Island
- Newfoundland and Labrador
Most of the site needs a paid plan. Four pages are free.
Your name, address, birth date and SIN are taken out of the text before it is read. The file itself is not kept.
See my lettersApplying for a mortgage, a car loan, or a new card soon? Lenders read your file before they read your application.
Why it matters →Your file is read by machines. Machines make mistakes.
Fines happen.
Bureaus have been fined for mistakes.
Delay
is what regulators punish most.
No one in Canada publishes this. We checked.
2 bureaus
Equifax and TransUnion keep your file.
Buying a home · Getting a mortgage · Refinancing
Your file decides your rate before anyone decides on you.
$2,908 → $3,052
$500,000 over 25 years. At 5.00%: about $2,908 a month. At 5.50%: about $3,052 a month. That is about $144 a month apart.
Bureaus take weeks to answer
The law gives a bureau time to answer. How much depends on your province.
Old items may have to go
Some provinces set a limit on how long an item can stay. We show the rule for yours.
What we never promise
We never promise a score, an approval, or that an item will come off.
Which one is you?
New to Canada
You may have no credit file here yet, or a very short one. We show you how a file starts, which cards and accounts are open to you, and what to avoid.
See the guides →Rebuilding after a hard time
Missed payments, a collection, a bankruptcy. We explain how long each thing stays on your file in your province, what you can dispute, and what no one can remove.
See the guides →Running a business
Business credit works differently. We cover how a company builds a file, which loans and lines have published rules, and how to keep it apart from your own credit.
See the guides →New to Canada
Your credit from home does not follow you. Here is how to start.
What no file costs you
- A lender may not be able to look you up.
- A landlord may ask for more proof.
- A phone company may ask for a deposit.
- Some cards and loans may be closed to you.
- You may pay more when you borrow.
- It takes time to build a file.
How a file starts
How do I start building credit if I have none?
→Newcomer programs
Can I open a bank account in Canada with no credit and no job?
→Your history from abroad
I had good credit in my home country. Does it count in Canada?
→What fits a thin file
How do I get my first credit card in Canada?
→Not sure where to start? Ask our helper. It answers from our guides. Ask a question
What happens with your report
Upload the PDF
Download it from Equifax or TransUnion. Add it here.
report.pdf · ····4418We take your identity out
Your name, address, birth date and SIN are removed before it is read.
Name
Address
SIN
You check every item
You say what is right and what is wrong.
Maple Credit Card
CorrectNot sureSomething is wrongYour letters
We write them. You copy or print them.
CopyPrint
You send. We track.
You send the letters. We keep the date and remind you.
Sent · 2
By 13 Nov
A picture. The names and numbers are made up.
Ready to check your report?
Your dashboard
See where each report stands.
In Ontario, you can dispute anything on your file. The agency must use its best efforts to check it, within a reasonable time. The law gives no number of days. This is at s.13(1).
The law says when a bureau must answer. It does not say that an item must be removed.
Record the answer
- Uploaded
- Checked · 1 flagged
- Sent · 2 letters, date recorded
- By 13 Nov · Equifax should answerEquifax's published turnaround, not the law
- Outcome
StatusWaiting for a reply
Letters
Letter to Equifax (PDF)Letter to Northline Telecom (PDF)A picture. The names and numbers are made up.
The helper
Ask in your own words. Get an answer from our guides.
Three rules
- It answers only from our guides, and shows which ones.
- It never sees your name, address or birth date.
- It gives information, not advice about your case.
- How do I get my first credit card in Canada?
- Does applying for a credit card hurt my credit score?
- What affects my credit score in Canada?
Your name, address, birth date and SIN are taken out of the text before it is read. The file itself is not kept.
A picture. The names and numbers are made up.
What fits you
Cards
Car loans
Personal loans
Bank accounts
Business loans
Mortgages
Education only. Talk to a licensed broker. We get no fee from a broker.
Example listing
Example Bank · Starter card
Yearly fee shown. Interest rate shown.
Fit: a good match for a short file
If we are paid when you use a link, we say so right here.
Fit is shown in words, never a number.
Will I get approved?
An insured mortgage, as an example
- With a small down payment, a mortgage must be insured.
- The published rules from CMHC and OSFI set a smallest down payment.
- They also test if you could still pay at a higher rate.
- A lender decides the rest.
What we do not know
- What a lender will say to you.
- Your income, your debts, or your file.
The guides
Getting started
Your report
Hard times
Browse by province
Every guide, for your province, the minute you start.
Three people, three files
Made-up examples
Amara, new to Canada
She has no file here. We show how a file starts and which first cards are open to her.
What we do not say: that she will be approved.
Made-up examples
Marc, getting back on his feet
An old collection is on his file. We show the rule for his province and a letter he can send.
What we do not say: that the item will come off.
Made-up examples
Priya, who runs a small shop
Her business has no file. We show how a business builds one.
What we do not say: that a loan will come.
My reports
Keep every report in one place
New report
One plan
$249 a month
$2,499 a year
$249 a month, or $2,499 a year. Canadian dollars, plus sales tax. Cancel any time.
Cancel any time. You keep access to the end of the time you paid for. We do not refund the time you did not use.
What we never do
- We never say we can take correct information off your credit report. No one can.
- We do not give advice about your own case. We give information.
- We never contact a credit bureau or a lender for you. You send your own letters.
- We never say we can take correct information off your report. No one can.
- We never give advice about your own case. We give information.
- We do not sell your email address or share it.
Questions people ask
Do you fix my credit for me?
No. We explain, and our tool helps you write letters about mistakes. You read them, you decide, you send them. No one can take correct information off your report, and we never say we can.
Will you tell me my credit score?
No. Only a credit bureau can give you your score. We explain what moves it and where to get it for free.
Is this advice about my own case?
No. We give information. Before a big decision, talk to a professional who can look at your own situation.
What do you keep about me?
Your email address and your plan dates. A report is kept only if you save it to your dashboard, and then it is locked with a key. Delete it any time. Our privacy notice says exactly what happens.
Which provinces?
All ten, in English and French. Our pages are not written for the territories yet.
Is there a version for the United States?
Not yet. We are working on one. It does not have a date.
Your file, checked. Your letters, written. You decide.
$249 a month, or $2,499 a year. Canadian dollars, plus sales tax. Cancel any time.