Which banks use TransUnion?

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In Canada, some banks favor TransUnion for credit checks. RBC, Laurentian Bank, Bridgewater Bank, and Vancity usually prefer TransUnion. BMO, Scotiabank, and Tangerine, however, sometimes switch between TransUnion and Equifax, like having both Netflix and Hulu. AMEX Bank of Canada and Canadian Tire also lean towards TransUnion. Reach out via phone, text, or live chat if you have any questions!

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_{Top Canadian banks favor TransUnion for credit checks.}

Bank Transunion Question

Which banks use TransUnion? I’m trying to find out which banks in Canada primarily use TransUnion instead of Equifax for credit checks.

From: Anonymous Question
Location: St Catharines, Ontario (ON)
Category: credit rebuilding

Bank Transunion Answer

When it comes to checking your credit in Canada, some banks cozy up to TransUnion. Count on RBC, Laurentian Bank, Bridgewater Bank, and Vancity to have a soft spot for TransUnion’s credit checks—they consistently lean on these evaluations. Meanwhile, BMO, Scotiabank, and Tangerine like keeping their options open and might shuffle between TransUnion and Equifax. It’s kind of like having both Netflix and Hulu subscriptions! On the credit card front, AMEX Bank of Canada and Canadian Tire also prefer to roll with TransUnion more often. For a detailed understanding of how credit score agencies work, check out credit score agencies.

From: Insider Adam

Office of the Superintendent of Bankruptcy (OSB) Answer

The provided sources do not contain specific information about which banks in Canada primarily use TransUnion instead of Equifax for credit checks. For this type of information, you may need to consult specific bank policies or reach out to individual banks directly, as such details are not covered in the legal acts or regulations listed in the sources.

From: OSB Helper

Related Questions to Banks That Use Transunion

Here are the top 5 most frequently asked questions related to which banks use TransUnion in Canada:

1. Which banks primarily use TransUnion for credit checks?

• Banks such as RBC, Laurentian Bank, Bridgewater Bank, Vancity, and AMEX Bank of Canada primarily use TransUnion[3].

2. Do all banks use either TransUnion or Equifax?

• Most banks use either TransUnion or Equifax, but some banks like BMO, Scotiabank, National Bank, HSBC, and Tangerine may use both[1][3].

3. How can I find out if my bank uses TransUnion or Equifax?

• You can typically ask the lender which credit agency they partner with or check online for this information[1][3].

4. Can I access my TransUnion credit score for free through my bank?

• Existing customers of certain banks, such as RBC, can access their TransUnion credit score for free through their online banking accounts[5].

5. Are there any differences in the credit scores provided by TransUnion and Equifax?

• Yes, your credit score can differ between TransUnion and Equifax because not all financial institutions provide the same information to both credit bureaus[5].

If you have a question about debt see our debt questions or ask your own debt related question.

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