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Equifax Canada Inc. gives consumers critical Beacon credit scores and credit reports they need for Canadian loans, mortgages and credit cards!

Equifax Canada gives Canadians confidence for credit decisions

Equifax Canada Inc. is the only Canadian credit bureau that can supply consumers with both their Beacon FICO credit score as well as current Canadian credit report. These facts and figures from Equifax Canada Inc. are the numbers that banks and credit card companies depend upon when evaluating your financial requests for personal loans, home mortgages and credit cards.

Until recently, most consumers never really knew what Canadian lenders really thought about them. Now these formerly secret documents and statistics are available online directly from Equifax Canada Inc.

A credit report is a history of how consistently you pay your financial obligations. A credit report is created when you first borrow money or apply for credit. On a regular basis, the companies that lend money or issue credit cards to you (banks, finance companies, credit unions, retailers, Visa, Mastercard, Enroute, etc.) send the credit reporting agencies specific and factual information about their financial relationship with you - when you opened up your account, if you make your payments on time, if you miss a payment, or if you have gone over your credit limit, etc.

Equifax Canada Inc. receives this information directly from the financial and retail institutions and retains it to help other lenders make decisions about granting you credit. Because your credit report contains all the information received from your lenders and provides a picture of your financial health, other lenders will request your report when they are determining whether or not to grant you a loan. Your credit report is a history that will help them determine what kind of lending risk you are - if you are likely to repay your obligation on time or not.

Credit information is gathered by credit reporting agencies, sometimes called credit bureaus. There are two major credit reporting agencies in Canada: Equifax Canada Inc., and TransUnion of Canada. Governed by provincial and federal laws, credit reporting agencies store and maintain credit information about individual Canadian consumers for use by members of the credit reporting agency. Members include banks, finance companies, auto leasing companies, credit card companies and retailers.

Credit grantors update individual credit reports regularly by providing information to credit reporting agencies about their customers' credit and payment activities. This ensures that credit reports remain up-to-date and as complete as possible. Other sources of the information contained in your credit report can include public records from courthouses across the country and collection agencies.

About Equifax

Equifax (NYSE:EFX) (www.equifax.com), a 104-year-old S&P 500 company, enables and secures global commerce through its information management, marketing services, direct to consumer, commercial and authentication businesses. As a leader in information technology, Equifax serves customers across a wide range of industries including the financial services, retail, healthcare, telecommunications/utilities, brokerage, insurance and government industries. Equifax also enlightens, enables and empowers consumers to manage and protect their financial health with services offered at www.equifax.com. The company ranked in the top five in return on equity among Business Week's Best Performers during 2001. Equifax employs 5,000 in 13 countries (including Canada) and has $1.1 billion in revenue.

Need Canadian Equifax Canada Credit Report Now?  

To see your own personalized FICO Beacon credit score with credit report online, visit the Equifax Canada Inc. Page or our Credit Report Page.