Who makes credit reports?

Equifax and TransUnion are the two organizations in Canada that gather information about your accounts from various businesses, including financial institutions, service providers, and other types of companies. When it comes to the monitoring of consumer credit information, each of the credit bureaus, despite the fact that they each provide a variety of goods and services, carry out the same set of responsibilities.

To be more specific, they are responsible for the management of their own records, which include details on the accounts you hold, the sums you owe, and the payments you make. As a result of the fact that each credit agency functions on its own, the information that they have on file for each person may not necessarily be the same.