Start With the Identity Section
The first thing to check is that the report describes the person who applied. A Canadian credit report can include the applicant’s name, date of birth, current and past addresses, phone numbers and employers.1 Compare each against the application and the ID the applicant showed you.
- The name and date of birth should match the ID exactly. A variant spelling is common; a different birth date is not.
- The address history should overlap with the rental history on the application. A report with no addresses the applicant mentioned is a question to ask.
- Employers on file may be out of date, so a mismatch here is a prompt, not a finding.
Look for a fraud or identity alert. A consumer can ask a bureau to add an alert warning anyone who receives the file to verify the identity of the person claiming to be them, and the bureau passes that alert on with the report.6 If you see one, confirm identity through a channel the applicant did not supply before you go further. Accounts the applicant says they never opened can also be a sign of identity theft.4
What the Score Tells You
Canadian credit scores usually run from 300 to 900, and higher is better.1 Equifax Canada describes 660 to 724 as good, 725 to 759 as very good, 760 and up as excellent, and scores generally below 560 as poor.5
Two cautions before you lean on it. Bureaus and lenders use different formulas and don’t publish the details, so the same person can carry different scores from different sources.1 And Equifax itself says the score is only one of several pieces of information an organization uses to judge creditworthiness.5 For a landlord, the score is a summary of debts owed to lenders, not a record of rent paid. What the number means for a rental decision is covered in What Credit Score Do You Need to Rent in Ontario?.
Read Payment History First
Payment history is the most important part of a credit score.2 Each account on the report, often called a trade line, lists the creditor, the balance and how the account has been paid. The report’s legend explains the payment codes the bureau uses; read it rather than guessing.
What to look at, account by account:
- Recency. A late payment four years ago on an account that has been current since reads differently from two missed payments last quarter.
- Pattern. One late month is an event. Late months spread across several accounts are a habit.
- Severity. Thirty days late is not the same as an account written off or sent to collection.
- Fixed monthly obligations. Car loans and other instalment debts show the payment the applicant already owes every month, which matters when you weigh the rent against income.
Bureaus generally keep information about late or unpaid credit cards and loans for up to six years.3 Ontario’s Consumer Reporting Act separately bars a bureau from reporting most debts and collections more than seven years after the last payment or the default, unless the creditor confirms the debt is still not statute-barred.6
Collections, Bankruptcies and Proposals
The financial section can also list debts sent to collection, NSF payments and bankruptcy records.1 These carry the most weight, so read the dates.
| Item | How long it usually stays |
|---|---|
| Late or unpaid credit cards and loans | Up to 6 years3 |
| First bankruptcy | Usually 6 years after discharge; TransUnion keeps it 7 years in Ontario3 |
| More than one bankruptcy | 14 years3 |
| Consumer proposal | 3 years after the debts in it are paid, or 6 years after signing, whichever comes first3 |
A collection that has since been paid, or a proposal the applicant completed, tells you something different from an open collection. Ask about anything open. Under Ontario’s Act a consumer can also file a written statement of up to 200 words explaining an item, and the bureau must include it in later reports that contain that item, so read any statement attached to a collection.6
Inquiries and Open Accounts
Inquiries list who has pulled the applicant’s report. A cluster of new credit applications in the last few months can mean the applicant is short of money, or simply that they shopped for a car loan; the bureaus treat several car loan or mortgage quotes within two weeks as a single inquiry.2 Equifax keeps lender inquiries for three years and TransUnion for six.3
Your own check appears here too. Whether it shows as a hard or a soft inquiry depends on how it was run, which is explained in Soft vs Hard Credit Check for Tenants.
Then read utilization: balances against limits on cards and lines of credit. The Financial Consumer Agency of Canada suggests consumers keep balances under 30% of their total credit limit.2 Cards near their limit month after month are a signal worth weighing; a single high balance in one month is not.
What a Thin File Means
A thin file has few accounts or a short history, and some applicants have no file at all: newcomers, students, people who have always paid cash. Lenders want to see a long and stable history, so a thin file often produces a lower score or none.2
In Ontario, a thin file is not the same as bad credit. The Ontario Human Rights Commission says landlords cannot equate the absence of a credit rating with a bad credit rating and should not reject applications based on a lack of credit history.8 Look instead at the evidence you do have: rental history, references, verified income and, where appropriate, a guarantor.7 Screening Tenants With No Canadian Credit History covers that file in detail.
What Matters Most for Rent
For a rental decision, read the report for three things: that the file belongs to the applicant, that recent obligations have been paid as agreed, and that existing monthly debts leave room for the rent. The score is the shorthand for all three, and the trade lines are the evidence.
Ontario lets a landlord request authorization for a credit check and use the result, alone or with credit references and rental history, to select or refuse an applicant. Income may be considered only together with that other information, and nothing in the regulation permits refusing someone on a Human Rights Code ground or because they receive public assistance.7 Section 10(7) of the Consumer Reporting Act says that where a benefit is denied wholly or partly because of information from a consumer reporting agency, the user of that information must notify the consumer at the time and, if the consumer asks within 60 days, name the agency. The Act does not define “benefit”, so a landlord who declines an applicant because of a report should give that notice.6
Only read a report the bureau sent to you or your screening service. A PDF the applicant forwards can be edited; see Fake Credit Reports. PropTx Verify’s report includes a credit check with Equifax alongside income, employment, references and identity, and Chat with Report answers questions about a completed report. The credit check is soft and does not affect the applicant’s score.
This page is general information about credit reports and Ontario law, not legal advice.
Questions
What Is a Good Credit Score for Renting in Canada?
There is no rental standard. Scores usually run from 300 to 900, and Equifax Canada calls 660 to 724 good and 760 and up excellent. A landlord sets its own criteria and should read the score with the payment history, income and rental history.1,5
How Long Do Late Payments Stay on a Canadian Credit Report?
Generally up to six years for late or unpaid credit cards and loans, according to the Financial Consumer Agency of Canada. A first bankruptcy usually stays six years after discharge, or seven with TransUnion in Ontario.3
Does Checking an Applicant’s Credit Lower Their Score?
Only if the check is recorded as a hard inquiry. The Financial Consumer Agency of Canada says some rental applications create hard inquiries, which affect the score, while soft inquiries do not.2
Can a Landlord Reject an Applicant for Having No Credit History?
Not on that basis alone in Ontario. The Ontario Human Rights Commission says landlords cannot treat the absence of a credit rating as a bad rating and should not reject applications for a lack of credit history.8
Sources
- Credit report and score basics
Financial Consumer Agency of Canada, Personal information, Financial information and Other accounts on your credit report; Credit score. Accessed October 22, 2026.
- Improving your credit score
Financial Consumer Agency of Canada, Paying your bills on time; Using your credit wisely; Understanding credit inquiries; Improving your credit history. Accessed October 22, 2026.
- How long information stays on your credit report
Financial Consumer Agency of Canada, Negative financial information; Consumer proposals; Bankruptcy. Accessed October 22, 2026.
- Checking your credit report for errors and fraud
Financial Consumer Agency of Canada, What to look for on your credit report. Accessed October 22, 2026.
- What is a Good Credit Score in Canada?
Equifax Canada, Credit score ranges. Accessed October 22, 2026.
- Consumer Reporting Act, R.S.O. 1990, c. C.33
Government of Ontario, e-Laws, ss. 9(3)(f), 10(7), 12.1, 12.2 and 12.6, consolidated from July 1, 2026. Accessed October 22, 2026.
- O. Reg. 290/98: Business Practices Permissible to Landlords in Selecting Prospective Tenants for Residential Accommodation
Government of Ontario, e-Laws, ss. 1, 2 and 4. Accessed October 22, 2026.
- Policy on human rights and rental housing, V. Identifying discrimination in rental housing
Ontario Human Rights Commission, s. 4.2.4 Credit history. Accessed October 22, 2026.
