What is Equifax and Transunion?

Equifax and Transunion are consumer credit reporting agencies.

The Equifax and Transunion credit report offers vital information about your credit history. The information in your credit report serves as a reference point for banks considering your creditworthiness.

Your credit report will contain information on whether or not you have missed, or have been late on your payments in the past and how late you were. It will also provide details such as your current and previous addresses, social security number, any credit card accounts and current balances you may have, as well as past credit card accounts  even if those accounts have been closed or canceled.

This report also lists any auto loans and mortgages along with balances and how diligent you are about making the payments.

All banks will use Equifax and or Transunion. So it is important to check both agencies at least once a year to thoroughly review your credit history, and to check for errors or signs of identity theft in your credit report. .

Be an informed client.

For more information contact your Toronto Mortgage Broker 

at 416-920-9931

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