Fight or Flight

Hi
can anyone advise as to which type of credit report is recognised in Alberta, I seem to have read comewhere that Experian is better than Equifax, any advice appreciated!

Peter

rach_woz99

Hi Peter,

I was told the opposite and just ordered my Equifax one, doh!

I think Canada recognises Equifax better as they have that too?

Rachel

MarkG

I got all three, since it was only 2 pounds each. However, I haven't used them since arriving here and they'd probably be considered out of date now.

Almost Canadian

Equifax without a doubt.

Experian is not known over here, Equifax is

mjwalker007

I would probably say Equifax as the two main Canadian credit reports are TransUnion and Equifax, therefore they will have heard of Equifax !

Winston Green

Hi all

Just out of interest how do you apply for your Equifax credit report.

Biiiiink

Go to their website (UK or Canada) and fill in the form

Read carefully though - in Canada the free check is buried because of course they want you to pay, same in UK except the cheaper check isn't free, but it's still hidden behind the instant high-fee ones.

Winston Green

Many Thanks
Found the cheap one!

soniataylor

Are credit reports required when moving to Canada?

If so what for?

DAVIE_MAC

How much is the "Cheap One" is it £11.95 or am I looking in the wrong place.

TA

Winston Green

No it is £2. It is the statuary report under the Freedom/data protection act.
At least that is the one I have ordered, when it comes I will decide if it is detailed enough if not will pay the £11.95. I suspect that both are the same report packaged up differently.

DAVIE_MAC

Thanks Winston, found the Badger.

TAR Dave

cornmatthew

They're not 'required' in the sense that you need one to get a visa or anything.

But, as a newcomer, you won't be on any of the Canadian credit databases. So, once you're over here and applying for any kind of credit, it'll look to lenders like you don't exist, and they'll offer you poorer terms or none at all.

Canadian lenders don't generally have access to UK credit records, but if you're applying for a mortgage and have a recent UK report available, they'll take that into account. For smaller loans, they're less likely to take the trouble.

Fight or Flight

thanks for all the advice will make sure we get the right ones!

Peter

Antstar

Peter, I got my Equifax report before I left for Calgary but none of the banks I spoke to would accept it. Your best bet to build up your credit rating is to speak to credit card companies you are currently with in the UK (or could join before you leave), who are also operating in Canada, and ask them to give you a Canadian credit card based on your Uk account history, once you have an address in Canada. American Express gave me a Canadian credit card and kept my UK one active!

Other than that you are probably looking at a secure credit card, i.e. you give a credit card company $1000 which they hold on to and after 12 - 24 months once your rating is established they refund your money (plus interest)........