TransUnion vs. Equifax: What's the Difference?

TransUnion and Equifax are Canada's two main credit bureaus. Both collect information about how you use credit.

They use this information to create credit reports and credit scores.

Your reports and scores can differ because lenders may report different information to each bureau. They may also update that information at different times.

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What Do TransUnion and Equifax Do?

Both companies collect information about your credit activity in Canada.

Your credit report can include:

• Credit cards

• Personal loans

• Lines of credit

• Mortgages

• Account balances

• Payment history

• Credit inquiries

• Certain public records

Lenders can use your credit report and score when deciding whether to approve you for credit. They may also use them when determining your interest rate or credit limit.

Why Are My TransUnion and Equifax Scores Different?

It is completely normal for your two credit scores to be different.

A lender may report an account to only one credit bureau. Another lender may report to both. Lenders can also send their updates at different times during the month.

The bureaus may also use different credit scoring models. Those models can weigh information differently.

This means one score could be higher than the other even though both belong to you.

Is TransUnion or Equifax More Important?

Neither bureau is automatically more important.

A lender may check Equifax. Another lender may check TransUnion. Some lenders may use more than one source. They may also use their own internal scoring models when making a decision.

This is why it is useful to keep both credit reports accurate.

Do TransUnion and Equifax Use the Same Credit Score Range?

Canadian consumer credit scores are generally presented on a scale from 300 to 900. A higher score generally represents lower credit risk.

However, you can have more than one credit score. Different scoring models may produce different numbers from the same credit history.

You should focus more on the overall health of your credit than on making your TransUnion and Equifax scores exactly the same.

Should You Check Both Credit Reports?

Yes.

Checking both reports can help you find information that appears with one bureau but not the other. It can also help you identify errors or accounts you do not recognize.

You can access credit reports from both bureaus for free. Checking your own credit report or score does not hurt your credit rating.

What If One Credit Report Has an Error?

If you find incorrect information, dispute it with the bureau showing the error.

You may also want to contact the lender that supplied the information. The lender can review its records and send corrected information to the credit bureau when necessary.

An error may appear on one report without appearing on the other. This is another reason to review both.

Which Credit Score Should You Focus On?

You do not need to choose between TransUnion and Equifax.

Focus on habits that can support your overall credit profile. Pay your bills on time. Keep your balances manageable. Avoid unnecessary credit applications.

Your TransUnion and Equifax scores may never be identical. What matters is building a strong credit history across both bureaus.