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Equifax vs TransUnion: Why is my Equifax and TransUnion score different

5 min read

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Written By

Sam Boyer
Sam Boyer

Reviewed By

Clay Shiffman

Equifax and TransUnion are the two major consumer credit bureaus in Canada responsible for credit scores. Why should you care about them? Because in some ways, they hold your financial future in their hands. When you apply for any major financial product – like a personal loan, credit card, or mortgage – lenders will ask the credit bureaus for your score, which helps them determine if they want to lend money to you. A lot rests on the strength of your credit score and what information is given on your credit report.

Equifax and TransUnion each calculate your credit score slightly differently. If you’ve ever checked your own credit score, and compared your scores from both credit bureaus, you might wonder why they differ from one to the other. Your Equifax score might be higher than your TransUnion score, or vice versa.

So, why are your Equifax and TransUnion scores different on the credit report results they generate? Is one score more relevant than the other? What goes into their calculations? Read on to find out.

A quick primer on credit scores and credit reporting agencies

Your credit score is a three-digit number between 300-900 that represents your credit history – basically, your credit score ranks how good you are at borrowing and paying back money over time. Obviously, you want a great credit score. The higher, the better. A strong credit score gives you the best access to mortgages, loans, and credit cards, among other things. Your credit score is largely what lenders rely on when deciding if they should lend you money.

A poor score means you’re not good with lenders’ money and are unreliable with repayments. A strong score, on the other hand, means you can be trusted to borrow money and pay it back in a timely manner. In Canada, your credit score is considered poor to fair in the 300-659 range, considered good to very good between 660-759, and is regarded as excellent between 760-900. This is one of the key bits of information found on your credit report.

Why is my Equifax and TransUnion score different on my credit report?

It's not uncommon for individuals to wonder why their Equifax and TransUnion credit scores differ, despite both being prominent credit reporting agencies. The reason behind these discrepancies lies in the complexity of credit scoring models and the subtle variations in credit history each bureau captures.

Credit scores, crucial financial indicators, are derived from the information contained in your credit report. Equifax and TransUnion, among the major consumer credit bureaus, compile this data but may use slightly different algorithms and credit scoring models to calculate your scores. These scoring models evaluate various aspects of your credit history, such as your payment history, credit utilization, and length of credit history, in unique ways. As a result, the scores produced by Equifax and TransUnion may not perfectly align, leading to disparities in the numbers.

Additionally, the presence of multiple credit scores adds to the complexity of generating a credit report. There is no universal credit score that all lenders use; instead, they can choose from a range of credit scoring models. Each model may emphasize different aspects of your credit report, contributing to variations in your credit scores. Furthermore, differences in credit limits reported by creditors can also influence your scores, as they impact your credit utilization ratio, a significant factor in credit scoring.

In summary, the differences in Equifax and TransUnion credit report scores arise from variations in credit scoring models, unique data reported to each bureau, and the dynamic nature of credit reporting. It's essential to maintain a vigilant eye on both of your credit reports and scores to ensure accuracy and financial well-being.

Equifax Credit Scores vs Transunion Scores

Credit bureaus do more or less the same things when it comes to comparing credit scores and generating a credit report for a customer. They take public and reported records to generate a picture of your financial reliability, illustrated as a three-digit score. This is recorded and updated regularly, so lenders have an accurate guide to determine how much of a risk you pose as a borrower.

While Equifax and TransUnion do essentially the same thing, there are some nuances between the two that can account for score discrepancies in how they calculate credit scores and how they establish credit score range parameters. Having a good credit score range and maintaining the minimum credit score needed to be in good standing will be determined by the factors used to generate your free credit reports. These can include:


Each bureau has a custom algorithm they use to calculate your score, which can produce different results. While all credit scores are based on the same criteria, the models used to record and weigh those criteria work out the numbers slightly differently.

Date range

Equifax uses data dating back 81 months (almost seven years of your financial history), while TransUnion’s model takes into account just your past 24 months (two years).


Equifax and TransUnion scores can only be as accurate as the information they receive. Some lenders only report to one credit bureau, while other lenders report to both. And even if a lender reports your credit information to both bureaus, they may do so on different dates, meaning your credit score could be up-to-date with one bureau and out-of-date with the other bureau when you check your scores.

Equifax vs TransUnion Credit Score Ranges: which are most accurate?

Is one credit report more accurate than the other? Should one be trusted or used more than the pother when comparing credit report numbers and results? The truth is both reports can be accurate and valuable for monitoring your financial well-being. Neither credit bureau score is more accurate or more valuable than the other. They’re just different in how they calculate credit scores and how they generate the final credit report.

Some lenders might lean towards using one bureau over the other, but that doesn’t mean a particular bureau is better than the other, it could just be lender preference. Some lenders check with both credit bureaus to make their determination of your credit worthiness.

How to check your own credit scores and get a credit report

If you want to access your credit score directly from one of the credit bureaus, you may need to pay a fee around $20. (However, if you live in Quebec, you can check your TransUnion score directly from the bureau for free.)

Fortunately, there are other ways you can source the information on your credit scores accurately – for free.

Online fintech companies Borrowell, Intuit Credit Karma, and Mogo all offer free access to your credit scores. Borrowell and Mogo provide Equifax scores, while Intuit Credit Karma provides scores using something called the VantageScore 3.0 model (a model created in collaboration between credit bureaus).

Many Canadian banks also offer free credit score checks to their banking customers, often provided through their online app.

Which criteria matter the most for your credit scores?

The credit bureaus may calculate their scores slightly differently, using different proprietary algorithms, but the criteria they consider is largely the same.

Though Equifax and TransUnion weigh these criteria differently, they’re similar. This is what they look at and how important each factor is within your overall credit score and what is displayed on your credit report:

Payment history

Your payment history makes up about one-third of the weighting in your credit score. This considers how well or badly you pay back your credit debts on accounts such as mortgages, credit cards, auto loans, lines of credit, student loans, and others. Credit scoring models consider how often you make payments on time versus late, how late your payments were, and how recently and how often you miss payments.

Amount owed

This factor similarly makes up about one-third of your score. This is about how much money you owe to lenders, your current debt-to-credit ratio, and your credit utilization ratio. Your credit utilization ratio is a mark of how much credit you owe versus how much credit is available to you. For example, credit bureaus prefer your credit utilization to be below 35% – this means if you had a credit card with a $1000 limit, you should attempt to keep your owed balance around $350 or less.

Length of credit history

The longer you use credit responsibility, the better your score will be. Lenders like to be able to see that you’ve built a history of borrowing and repaying money, to know that you’re safe to lend to. This is why Canadian newcomers start out with low credit scores.

Credit mix

The number and types of credit accounts you have can impact your score. Better scores usually feature a mix of borrowing types, such as credit cards, loans, mortgages, and lines of credit. Getting good credit scores relies heavily on a good track record with credit lines.

New applications

Each time you seek a new form of credit – applying for a new credit card, a loan, or a line of credit, for example – your credit score might take a hit. When you apply for new credit, the lender will submit an enquiry to the credit bureaus to check on your credit worthiness. These are known as “hard enquiries” and can be interpreted as a sign of financial trouble. If you have many hard enquiries within a short time frame, lenders may assume you pose a lending risk.

How to improve your credit score

If you need to improve your credit score, the good news is you can. You can improve your score by paying down your debt, paying your bills in full by their due date, utilizing less than 35% of your available credit, building history by sticking with your credit cards rather than switching, and by not applying for too much new credit in a short time period.

There are also companies that can help you get a good credit score and keep it. And, hey, KOHO just happens to be one of them.

KOHO Credit Building

With KOHO’s Credit Building tool, you can improve your credit score pretty quickly. How it works: with the KOHO Credit Building tool, you open a no-interest line of credit and then you just need to make small repayments every month. You can build your credit score in just six months, by keeping up with regular on-time payments. Getting a good credit score is possible! Small steps can go a long way in protecting your credit score and helping you track your progress on your credit report. It’s as simple as that.

Note: KOHO product information and/or features may have been updated since this blog post was published. Please refer to our KOHO Plans page for our most up to date account information!

Sam Boyer

Sam Boyer spends, invests, budgets, and writes. He enjoys writing about things he wishes he’d learned earlier — like spending, investing, and budgeting. A journalist originally from New Zealand, Sam has written extensively about consumer affairs, insurance, travel, health, and crime.



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