Equifax Canada testing use of rental payment data for credit scores

Equifax Canada is exploring how rent data could factor in to credit scores to help make credit and financial services accessible to more people.The agency said it has been testing small volumes of rental payment data to assess its suitability.An Equifax study found that including “alternative data” could establish or enhance the credit scores for millions of Canadians.“Equifax Canada has been leading the way and has been modelling how rental payments, just like mortgage payment