Credit Checks and Credit Reporting Notice
Effective: March 31, 2026
Introduction
When you apply for or use a credit product (such as a mortgage, loan, or credit card) from an affiliate of the Questrade Financial Group Inc. (“QFG”), we need to assess your creditworthiness to help us make responsible lending decisions. This notice supplements the QFG Privacy Policy and explains how we work with credit reporting agencies to evaluate your applications and manage your accounts.
Information We Disclose and Collect
We may disclose the following information to our credit reporting agency partners at the time of application, and on an ongoing basis for the duration of your relationship with us, and for a reasonable period afterwards:
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Identity Details: Your name, current and previous residential addresses, and date of birth.
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Financial History and Liabilities: Information regarding your payment history, current account balance and debts, and other financial obligations.
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Social Insurance Number (SIN): You have the option of consenting to our use of your SIN as a unique identifier to ensure the accuracy of the information retrieved from credit reporting agencies and to avoid matching your records with individuals who have similar names.
In return, we receive credit reports which contain a summary of your credit history, including your payment patterns and existing credit limits. These disclosure helps establish your credit history and supports the broader credit-granting functions within the financial industry.
How We Use Your Credit Information
We use the information obtained from credit reporting agencies for the following purposes at the time of application and on an ongoing basis thereafter:
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To determine your eligibility for products (e.g., pre-approvals for credit products or increases) and verify your creditworthiness.
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To verify your identity, protect against fraud, and manage our risks.
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To establish and review credit and hold limits and to assess our risk of default.
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To assist us in collecting a debt or enforcing an obligation you owe to us.
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Identify products and services that may be of interest to you.
Your Privacy Choices
If you have previously provided us with consent to use your SIN as a unique identifier, you can withdraw your consent any time in accordance with the “Your Privacy Rights” section in the Privacy Policy.
Contact
If you have questions about this Credit Checks and Credit Reporting Notice, you can contact our CTC or Questbank privacy officer at [email protected]. All other QFG customers can contact our privacy officer at or [email protected].