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

There are two federally appointed credit bureaus in Canada (Equifax and TransUnion), but it is possible to have different credit scores at each bureau due to differences in the information being reported. Lenders may only access your credit information with your permission, and you can choose which bureau(s) to provide access to. Therefore, D is the best choice as it correctly states that lenders may use more than one credit bureau for information.

Which of the Following Is True About Credit Bureaus in Canada