Equifax is one of the two main credit bureaus in Canada. Along with TransUnion, both credit reporting agencies aggregate consumer financial data into the credit report and credit score information used by banks, credit unions, insurance companies, and other financial institutions. Equifax is a credit bureau founded in 1899 in the United States. It operates in 25 countries and is traded on the New Your Stock Exchange under the EFX ticker symbol. In addition to providing credit reports, Equifax helps businesses with financial marketing, identity and fraud solutions, and data analytics services. Its main competitors globally are TransUnion and Experian.
You can access your Equifax credit report free of charge by creating an account online and verifying your identity. This credit report is updated monthly and includes identity information, credit information, credit inquiries, and public information. Identity information is your name, date of birth, Social Insurance Number (SIN), employment, and address. Credit information is your payment history for each credit account you have opened, such as credit cards and personal loans. Credit inquiries include soft and hard inquiries. Soft inquiries are not visible to lenders. Public information includes bankruptcies, collections, court judgments, etc.
A credit score is a three-digit number that is a snapshot of your creditworthiness. Lenders use your credit score to assess how much risk they take when they grant you credit. The credit score range for Equifax Canada is 300 to 900, and it is categorized as Excellent credit score of 760+, Very good credit score of 725 to 759, Good credit score of 660 to 724, Fair credit score of 560 to 659, and Poor credit score of 300 to 559. Equifax calculates your credit score based on several factors, including your payment history, credit utilization rate, length of your credit history, number of hard inquiries on your credit file, and the information available in public records. Payment history has the most impact on your credit score at 35%, followed by your credit utilization ratio at around 30%. Unlike TransUnion, you can access your credit score free of charge via Equifax in all Canadian provinces and Territories.
Equifax Canada has two credit monitoring products. Equifax Complete Premier is $19.99 per month, and Equifax Complete Friends and Family is $29.95 per month. If you find inaccurate information on your Equifax credit report, you can file a dispute to have the information corrected. The process takes 10-20 days, depending on whether you file your dispute electronically or by mail. You will need to provide documents to very your identity (such as a driverâs license), address (such as a utility bill), account details, and other supporting information (e.g. bankruptcy discharge or release letter from a collection agency). You should also indicate which part of your Equifax credit report is being disputed. The section you can choose from alerts, death notices, personal information, employment, accounts, bank alerts, inquiries, public records, and secured loans.
Equifax Canada CANCEL GUIDES
Get together the following account information:
First Name
Last Name
Social Insurance Number
Date Of Birth
Address 1
Address 2
City
State/Province/Region
ZIP/Postal Code
Country
E-mail Address on account
Password
Phone (Live Agent)
Follow these steps:
Contact customer service at 1-866-640-2273
Advise the rep that you need to cancel
Give the rep your account info
Request a refund, it never hurts to ask
Be sure to get a confirmation number or email for the cancellation
Be sure to keep the email and/or confirmation info about the cancellation
Login
Follow these steps:
In a browser, goto https://www.consumer.equifax.ca/personal/
Pick the option labeled “Customer Log In”
Get logged in with email address and password
Pick the option labeled “My account”
Navigate down on the page to locate “Manage Billing”
Pick the option labeled “Manage Billing”
Navigate down on the page to locate “Cancel Membership”
Pick the option labeled “Cancel Membership”
Now enter your information
Be sure to keep the email and/or confirmation info about the cancellation
