Which of the following is true about credit bureaus in Canada?
A)There are two federally appointed credit bureaus in Canada.
B)It is impossible to have a better credit score at one bureau than another.
C)Lenders may access your credit information without your permission.
D)Lenders may use more than one credit bureau for information.

Question

Quizplus · Accepted Answer

Lenders in Canada may use more than one credit bureau to access and gather information about an individual's credit history. This is important because different bureaus may have different information and scores, making it beneficial for lenders to look at multiple sources before making a credit decision. A and B are untrue as there are actually two main credit bureaus in Canada and it is possible to have different scores with each one. C is also false as lenders must have the individual's consent to access their credit information.

Which of the Following Is True About Credit Bureaus in Canada