Canadian Credit Reporting Agencies – Who Are They?

There are several companies typically mentioned when talking about Canadian credit reporting agencies. Two of them are also one of the three major credit reporting agencies in the United State – Equifax and Tran Union. The remaining Canadian credit reporting agencies may be less known to those outside Canada. Both Equifax and Trans Union are among the three biggest names in credit reporting for the United States. As Canadian credit reporting agencies, both carry the word “Canada” in their titles becoming Equifax Canada and Tran Union of Canada. Canadian Credit Reporting Unlimited is one of the Canadian credit reporting agencies though they do offer credit reports and investigations both in Canada and the United States. It’s located online at http://www.canadiancredit.com/, and touts the ability to provide both credit reports and investigations to help lenders make informed decisions about potential creditors. Like credit reporting agencies everywhere, the Canadian credit reporting agencies have special focuses. For example, D&B Canada promises to use databases from around the world to help companies lower their credit risk and to find valuable customers. The company’s online site, located at http://www.dnb.ca/, offers some tools that could be of value, including a breaking news section and a newsletter. The Lumberman Credit Bureau and the Mercantile Credit Bureau are part of

the Carmen Financial group, with a website located at http://www.carmafinancial.com/flash.html. These are among the Canadian credit reporting agencies that offer various tools to Canadian lenders and to individuals seeking a credit report. While the focus often seems to be on the creditworthiness of a business, links are available for personal credit reports. As with any credit report, individuals and businesses should contact the Canadian credit reporting agencies periodically for a copy of the individual or business credit report. Errors sometimes occur and by keeping an eye on your credit report you’ll be heading off potential problems before you apply for a line of credit or a loan.