Equifax and TransUnion are the 2 main consumer reporting agencies (CRAs) in Canada.
Consumer reporting agencies are also known as credit reporting agencies and credit bureaus.
They collect information from a range of credit providers and other third-party sources to create credit reports. They then analyse the information in this report to calculate a credit score which gives an indication of how likely an individual is to pay back a debt.
When you apply for credit lenders will ask one or both of the consumer reporting agencies for information. The lender will then assess your suitability for credit based on this information.
The information on a credit report comes from lenders and other third parties and is submitted to all the consumer reporting agencies. So the information on each report is very similar.
Scores differ in terms of what they are out of and how they are calculated. Generally, if you have a high score with one consumer reporting agency then your score with the other one won't be too far off.
ClearScore shows you your TransUnion credit report information and score.