A credit bureau is an institution that collects information about you
In particular, a credit bureau keeps monthly records of your current and past-due payments, credit limits, and debt level. Public record information it collects includes bankruptcies, judgments, and registered items.
It gets information from companies that have granted you credit, and public record information from courthouses throughout Canada.
Credit bureaus are not new.
Traditionally, credit bureaus were local associations of merchants, and credit reports were given by word-of-mouth.
What is new, is that credit reports can be accessed instantly on the Internet, and through their personal credit report, Canadian residents can check the accuracy of their credit history instantly, or monitor credit report updates, on a month-to-month basis.
Credit bureaus today in Canada.
Trans Union, Equifax, and Experian are the largest credit bureaus providing Canada credit report services. Separately, they've compiled nationwide computer databases of credit information on millions of Canada citizens. Credit reports are available to their subscribers instantly, over computer networks.
You can see what's on the credit bureau's credit report about you...