Credit Reports

A credit bureau is an organization that collects, maintains, and provides consumer credit-file information.

A credit file is the bureau record that gathers a consumer's reported credit information.

Consumer-facing copy of bureau file information used to review accounts, inquiries, and possible errors.

Equifax Canada is one of the main consumer credit bureaus Canadian borrowers encounter.

Organization that supplies account or inquiry information to a credit bureau for inclusion in a consumer file.

A report error is inaccurate, incomplete, outdated, or mixed-file information that appears on a credit report.

Account type on a credit report is the tradeline field showing what kind of credit relationship the reported account represents.

Date closed on a credit report is the field showing when a reported account was closed in the bureau record.

Date opened on a credit report is the field showing when a reported account relationship began.

Last reported date is the field showing when a tradeline was most recently updated to the bureau.

Monthly payment on a credit report is the tradeline field showing the scheduled payment amount for some reported accounts.

Current balance on a credit report is the amount a tradeline is showing as currently owed in the bureau record.

Tradeline status labels or codes showing whether an account is current, closed, delinquent, or otherwise reported.

A closed account on a credit report is a tradeline no longer open for new borrowing even though its history may still appear.

A credit report is the bureau summary that shows a consumer's reported accounts, inquiries, and other file information.

High balance on a credit report is the historical peak balance field shown on some tradelines.

I rating is the Canadian payment-rating code family commonly used for installment accounts such as personal loans.

O rating is the Canadian payment-rating code family used on some open-account tradelines in bureau reporting.

Paid as agreed is a report phrase showing that an account is being reported as current under its payment terms.

Past due amount is the unpaid amount that should already have been paid under the account terms.

Payment rating is the report code family that shows how a Canadian tradeline is being reported for payment behaviour.

R rating is the Canadian payment-rating code family commonly used for revolving accounts such as credit cards and lines of credit.

Payment history on a credit report is the tradeline record showing whether recent payments have been reported as current or late.

Credit limit on a credit report is the limit field shown on a revolving tradeline, helping readers interpret available room and utilization.

Canada-first explanations of credit reports, Equifax Canada, TransUnion Canada, inquiries, tradelines, and file review.

A tradeline is the report entry for one credit account or reported borrowing relationship.

Current and former addresses tied to a consumer file for identity matching and file review.

A collection account is a report entry showing that a debt has moved into collections activity.

Short note a consumer may ask to add to the file to explain a situation in context.

A credit check is a review of a borrower's credit file for a defined purpose such as lending, account review, or self-monitoring.

Ongoing alerts or review tools that help borrowers watch for file changes, fraud, or new activity.

Negative credit-report information such as serious delinquencies, collections, or other repayment trouble.

A hard inquiry is a credit check linked to an application for new credit or another permission-based lending review.

A mixed credit file is a bureau file that contains information that belongs partly to another person.

Court-linked or insolvency-related entries that may appear on a Canadian consumer file.

The consumer's request to obtain their own bureau file or disclosure for review.

A soft inquiry is a file review that is not typically tied to a new-credit application.

TransUnion Canada is one of the main consumer credit bureaus Canadian borrowers encounter.

Reported credit account the consumer did not open, authorize, or recognize as theirs.

Credit-file inquiry the consumer did not authorize or cannot connect to a legitimate request.