11 Ways to Get Your Credit Score for Free in Canada

credit scores canada
Share with FacebookShare with FacebookShare with TwitterShare with TwitterShare with Twitter
Table of Contents

    The importance of credit scores cannot be overstated. They tell a lot about your financial situation including how reliable you are at repaying your debts. Keeping an eye on your credit report and increasing your score, if possible, doesn’t have to be expensive. Check your credit score for free in Canada. Here’s how.

    For Whom
    Bank customers
    Credit union customers
    Bank customers
    Bank customers
    Bank customers

    1. Borrowell

    [Offer productType=”OtherProduct” api_id=”648a0ffcc3065548490bf1c4″]

    With 3 million users, Borrowell is a well-known name in Canada. The company started a free credit score service in 2016, which proved to be a major success, and now offers free Equifax credit reports. You can use this information to understand your financial health and take steps to improve it.

    All you need is to create an account and answer some identity verification questions to get access to your free credit report in Canada. As a member, you will receive weekly updates on how your credit score has changed and some great tips on how to improve your score.

    2. ClearScore

    A British fintech founded in 2015, ClearScore has over 20 million users in Canada, Australia, the United Kingdom and South Africa. Its user-friendly mobile app will tell you if your are on track with your payments, how likely you are to be accepted for a loan, etc. They give you your TransUnion score.

    The company earns revenue from financial institutions, who acquire new customers through their service. Because ClearScore partners with over financial institutions around the world, including Canada’s leading lenders, they offer personalised deals on credit cards, loans and more. Most companies like Borrowell and Credit Karma do the same.

    3. Credit Karma

    Credit Karma offers TransUnion credit scores and reports that are updated every week accross Canada. With over 100 million international users, Credit Karma is one of the most reliable ways to check your credit score for free. Credit Karma takes only a few minutes to join. You’ll be asked to provide answers to some questions to get access to your credit report.

    4. CompareHub

    CompareHub is a Loans Canada service. It offers a free comparison tool for personal loans, car loans, mortgages and related services. For example, you’ll find your credit score and tips on how to reduce your debt. It also provides information on what your score means and how you can improve it.

    5. Equifax

    You don’t have to go to a third-party platform to get your free credit report. Equifax offers free credit scores in Canada. You can request a copy of your free credit report by phone, in person, by mail or online. The easiest is to sign in to your Equifax account and request it.  

    You can also request a copy of your credit report free of charge by phone or mail. The company verifies identity before sending credit files and may request additional documents.

    Finally, you can visit any of the three Equifax offices to request your free report in person. You’ll have to verify your identity by providing two pieces of identification, one with a photo, and proof of address.

    6. TransUnion

    Just like Equifax, TransUnion also offers free credit reports. The document can be requested once a month by visiting the office, sending an online application, or requesting by mail or phone. The easiest option is to visit the official TransUnion site, provide the required information, answer some identity-related questions, and you will get immediate access to your credit report for free in Canada. 

    Also, you can visit one of TransUnion’s offices to request a free copy of your credit score in Canada. These offices are located in Nova Scotia and Prince Edward Island. In person or by mail, you’ll need the originals or copies of two pieces of identification, depending on the case. Examples include your passport, driver’s license, utility bill, etc.

    7. Scotiabank

    Scotiabank offers credit scores for free in Canada. For example, with a basic Scotia bank account, the platform makes it possible to track your monthly score and view credit reports. Moreover, it also provides tips on how to improve your credit score. You can check your score online or through the mobile app. You must sign up for an account to use this service.

    8. Desjardins

    Desjardins also made it possible to check your credit score for free in Canada.  You’ll need to access the AccesD website in order to check your credit score. The company has partnered with TransUnion and allows users to sign up for free and check their scores through the TransUnion Creditview Dashboard. The report is updated every month and comes with some tips on how to improve your rating.

    9. RBC

    Banks can be a great place to find your credit score for free in Canada. RBC also offers this service to all RBC Online Banking clients throughout the country. They have partnered with TransUnion and provide some additional tools and calculators to help you gauge your financial situation. With this free service, you will be able to simulate financial scenarios, such as applying for a new mortgage. The score is updated every month and can be checked anytime for free.

    10. CIBC

    CIBC is another bank that offers free credit scores in Canada. Free for clients using the CIBC Mobile Banking App, this service offers free TransUnion with CreditView. You can use the score simulator to determine the impact of certain financial decisions on your score, such as applying for a new credit card, and receive alerts about changes to your credit report.

    11. BMO

    With BMO, you will be able to check your credit score for free if you have signed up for BMO online or mobile banking. You will find it under the Profile tab if you log in through the website or under the More menu if you are on the app. The company has a section for CreditView that is updated every month and offers credit scores, simulators, credit education, and credit reports.

    Should I consider paid credit score services?

    If you search the Web, you’ll find that many companies in Canada offer paid credit scores. Companies that offer paid services often offer additional features or benefits, such as identity theft protection and comprehensive monitoring services. However, we believe that the free services presented above are reliable, especially for people who are only interested in getting their free credit score.

    Can checking my credit for free impact my score?

    Feel free to check your credit score for free using one of the many ways mentioned earlier as they will not impact your credit score. Only a hard check affects credit scores. Checking your own score or accessing your credit report is considered a soft check that has no impact on your score, no matter how often you access your report.

    How often should I check my credit score?

    It might be a good idea to check your credit score every month since most credit scores update every month. In most cases, a score gets updated when lenders report data to the bureaus. However, in some cases, credit scores may update more often, which is why some providers offer weekly updates.

    FAQs about getting your credit score for free

    Does a free credit report hurt your credit score?

    No, accessing your credit report for free should not hurt your score. Why? It’s very simple. You access your score and report via a soft check instead of a heard credit check.

    Does RBC offers free credit scores?

    Absolutely. If you are a RBC Online Banking client, you can get free access to the TransUnion CreditView Dashboard where you can view your credit score.

    Does TD Bank gives free credit scores?

    TD Bank offers the Interac Verification Service, which lets you check your credit rating free of charge. However, you’ll need to register on their own website; you won’t be able to access it through the TD app or website.

    How can I check my credit score for free online?

    There are many ways to check your credit score for free in Canada. You can choose between specialized websites, apps such as Borrowell and Credit Karma, and the main credit bureaus (TransUnion and Equifax).

    How can I check my TransUnion credit score for free?

    If you are a client at a bank that uses TransUnion, they might give you free access to your TransUnion credit score. You will be able to log into your bank’s website (or app) to access your score. Otherwise, you can ask TransUnion to give it to you by requesting your credit report online.

    How to check my Equifax credit score for free?

    The easiest is to sign in to your Equifax account and request it. Alternatively, you can also ask to get your credit score by phone or by mail.

    What is the best free credit score check?

    The best credit score check depends on your location and your bank. If your bank offers free credit check, go for it. If not, you can turn companies like Borrowell, Credit Karma or CompareHub, as they are user friendly. You can also get your score and report directly from TranUnion or Equifax, but be prepared to a less user-friendly website.

    Does Equifax offer free credit monitoring?

    Complete credit monotoring with Equifax is not free, but it costs less than $25/month.

    What banks offer free credit monitoring in Canada?

    You can get your credit score and report for free when you are a client with Scotiabank, CIBC, RBC, BMO and Desjardins. However, if you need to monitor your credit for identity theft and receive alerts, you may have to deal directly with TransUnion or Equifax and pay for this service.

    Share with FacebookShare with FacebookShare with TwitterShare with TwitterShare with Twitter
    Maude Gauthier is a journalist for Hardbacon. Since completing her Ph.D. in communications at University of Montreal, she has been writing about finance, insurance and credit cards for companies like Fonds FMOQ and Code F. As a responsible user of credit cards, she can spend hours reading the fine print to fully understand their benefits. Because of their simplicity, she developed a preference for cash back cards. After suffering steep increases with her former insurer, she can now proudly say that she saved hundreds of dollars by shopping around for her auto and home insurance. In her free time, she reads novels and enjoys streaming popular shows (and possibly less popular shows, like animal documentaries).