Practical Canadian guides — Credit
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Find my debt relief options14 articles
GUIDEPaying collections in Canada: what happens to your credit report?
Paying a collection can settle the amount, but it does not necessarily make the history disappear immediately or produce an instant score increase. Your first goal is an accurate record of what was owed and what was paid.
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SITUATIONCredit scores in Canada: understand the number and the report
Your credit score is a useful signal, but it is not a verdict on your finances. The account information behind it is usually the better place to start.
Read the guideSITUATIONWhat is a good credit score in Canada?
A score chart can put a number in context. It cannot tell you whether a specific lender will approve you or whether the borrowing would be affordable.
Read the guideSITUATIONHow to read a Canadian credit report
You do not need to interpret every code at once. Start with whether the report describes you and your accounts accurately.
Read the guideSITUATIONHow to get a free credit report in Canada: Equifax and TransUnion
You can get a free credit report from both of Canada’s main credit bureaus without paying for monitoring. Start with the official route, check both files and do not stop at the first score or subscription offer you see.
Read the guideCOMPARISONHard vs soft credit checks in Canada
Before giving permission for a credit check, ask what kind of check is planned and what action triggers it.
Compare the optionsSITUATIONHow to build credit from scratch in Canada
Starting a credit history does not require starting with a large balance. Focus on an account you understand and a payment routine you can maintain.
Read the guideSITUATIONCredit utilization ratio: calculate it and understand the limits
Credit utilization describes how much of an available revolving limit you are using. The arithmetic is simple; the effect on a particular score is not a fixed equation.
Read the guideSITUATIONHow to dispute a credit report error in Canada
A clear dispute identifies the entry, explains the issue and supports the correction. You do not need to buy a promise that someone can erase your history.
Read the guideSITUATIONWhy did my credit score drop? A practical review checklist
A lower number can be unsettling. Start with the evidence you can check instead of guessing at the cause or paying for an instant fix.
Read the guideREVIEWEquifax Canada review: reports, scores and the free-access route
Need a free report, help with an error, or alerts after possible fraud? Pick the job first. A paid monitoring plan is useful for some people, but it does not replace the free report or stop every kind of fraud.
Read our reviewREVIEWTransUnion Canada review: Consumer Disclosure and report guidance
TransUnion calls its free consumer report a Consumer Disclosure. Knowing that product name can help you avoid confusing it with a paid monitoring offer.
Read our reviewCOMPARISONEquifax vs TransUnion in Canada: compare the reports, not just the scores
Two reports are not a contest to find the more flattering number. They are two records to understand and check.
Compare the optionsSITUATIONHow a consumer proposal affects your credit in Canada
Completing a proposal is a milestone, but a credit report follows its own reporting rules. Keep the completion documents, check both bureaus and focus on the specific information that needs attention.
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