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Equifax Canada says it’s exploring how rent data could factor in to credit scores to help make credit and financial services accessible to more people.
The agency says it’s been testing small volumes of rental payment data for a while, and has found that including “alternative data” could establish or enhance the credit scores of about five million more Canadians.
The federal government recently announced it wants to see rental payment history count toward credit scores.
Equifax says renters are a growing part of the Canadian economy and should be recognized for making rent payments on time.
CANADIAN PRESS