CANADA · CREDIT SCORE·5 min·2026-04-22
The Canadian Credit Score: How Equifax and TransUnion Actually Compute It
Canadian credit scores (ERS 2.0, BEACON, FICO Canada) use the same core formula as US models but operate under weaker regulation. Understanding the weights lets you identify which errors cost you the most.
Score weights (approximate)
- Payment history: ~35%
- Credit utilization: ~30%
- Length of history: ~15%
- Credit mix: ~10%
- Recent inquiries: ~10%
Most damaging bureau errors
- Utilization inflation from duplicate tradelines (+20 points of error possible).
- Phantom past-due status (-50+ points).
- Old closed accounts reopened (changes length metric).
- Hard inquiry clustering from unauthorized pulls.
Canadian regulatory gap
- No federal equivalent to FCRA statutory damages.
- Provincial consumer protection laws (LPC Québec, Alberta, Ontario) apply.
- PIPEDA / LPRPDE provides access and correction rights.
- Class actions under provincial regimes are possible but less systematized than US.
PIPEDA · Loi 25 · ERS 2.0