In Canada, your credit lives in two parallel universes — Equifax and TransUnion. Same person, same debts, different scores (sometimes 30-50 points apart). Here's why, and which lenders check which.
★ THE TWO BUREAUS ★
Side by side
EQUIFAXBEACON SCOREThe older, larger bureau in Canada · founded 1899
Used by: RBC, BMO, Scotiabank, most A-lender mortgages
Free monthly score available
More aggressive about including utility/telecom payments
FICO-derived model (BEACON)
TRANSUNIONEMPIRICA / VANTAGEThe challenger · founded 1968
Used by: TD, CIBC, Capital One, Tangerine
Free score via Borrowell, CreditKarma, KOHO partners
Stricter about non-traditional credit
Multiple scoring models (FICO + VantageScore)
★ DETAILED COMPARISON ★
Eight key differences
FEATURE
EQUIFAX
TRANSUNION
Score model name
BEACON (FICO)
EMPIRICA / VANTAGE
Score range
300-900
300-900
Founded
1899 (Atlanta)
1968 (Chicago)
CA headquarters
Toronto
Burlington, ON
Free score (direct)
Monthly
Mail 1×/yr
Update frequency
Monthly
Monthly
Includes utility/telecom?
Yes
Limited
Hard inquiry impact
~5 pts × 12mo
~5 pts × 12mo
★ SAME PERSON · DIFFERENT BUREAUS ★
Why your scores don't match
EQUIFAX738BEACON
SPREAD36 pts
TRANSUNION702EMPIRICA
The 30-50 point spread is common. Each bureau gets data from a different mix of lenders, uses a different model, and updates on different cycles. A 40-pt spread can move you from "GOOD" to "VERY GOOD" — and from a 6.5% mortgage rate to a 5.5% one.
★ LENDER MAP ★
Who checks which bureau
MORTGAGES
EQUIFAXRBCBMOScotiabankMost A-lenders
TRANSUNIONTDCIBCMost credit unions
BOTHNestoMortgage brokers
CREDIT CARDS
EQUIFAXAmerican ExpressCIBC (some)
TRANSUNIONCapital OneTangerineMBNA
BOTHBig banks · varies by product
AUTO LOANS
EQUIFAXMost dealers (subprime)
TRANSUNIONMost prime dealersCIBC
BOTHBank financing
PERSONAL LOANS
EQUIFAXEasyfinancialMogo
TRANSUNIONBorrowell partnersLoanConnect
BOTHMost B-lenders pull both
INSURANCE
EQUIFAXTD InsuranceMost auto insurers
TRANSUNIONSome home insurers
BOTHBrokers
★ PRO MOVE ★
Check both before you apply
If you're about to apply for a mortgage or auto loan, find out which bureau the lender uses FIRST. Then check that specific bureau's score. If it's borderline, you have time to fix it before the hard inquiry. Borrowell shows TransUnion · KOHO or Mogo shows Equifax. Use both = full visibility.