GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

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TransUnion


Synonyms:credit bureau, credit report
Acronyms &
abbreviations:
TU
Notes:See TransUnion Canada.
Filed Under: companies-associations, financial-banking, mortgages
Tags: credit rating
 

Definition of TransUnion (TU)

TransUnion (TU)
1. One of the major credit bureau companies in Canada along with Equifax.

Related Terms and Acronyms:

  • bad credit   Someone who carries a higher credit risk.
  • credit rating (CR)   A judgement of a person's ability to repay debts. The rating is often based on a person's current and projected income and past debt payment history. Also called a credit score.
      ➥  A metric to measure the credit worthiness of a debtor.
  • credit report (CR)   A report on a loan applicant's willingness and ability to make payments in a timely manner in the past. This report is provided to the bank by an outside agency.
      ➥  A report that outlines the credit worthiness of an individual or entity.
  • Equifax (EF)   A major credit bureau company in Canada along with Trans Union.
  • Experian (XP)   One of the Big Three credit bureaus, along with Equifax and Trans Union, Experian not normally used in Canada.
  • good credit   Someone who carries little credit risk.
  • merged credit report   A summary of one's credit history from the big two credit bureaus: Equifax and Trans Union.

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