Credit Scores for free

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adrian2
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Re: Credit Scores for free

Post by adrian2 »

sepideh wrote: 03 Aug 2017 22:02 :( Hello guys,
I recently noticed that my credit score has dropped from 700 to 614!
I did more caring like writing down the due dates and paying ontime , now after one week that i paid most of my credits, it dropped to 613!
I am so desparate. I don't know what should i do .
Get your credit report (not only the score) and check for inaccuracies. You don't need to pay anything to get it in the mail, just follow the instructions.
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sepideh
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Re: Credit Scores for free

Post by sepideh »

Yes,
I saw the report .It doesn't show the payments to visa and shows the old balance.
I don't want to pay to my loc because it is invested for something else but I am paying on time for the interest.
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Re: Credit Scores for free

Post by sepideh »

thanks any way for answering,I really appreciate as I don't know why it's coming down after being so careful.
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deaddog
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Re: Credit Scores for free

Post by deaddog »

sepideh wrote: 04 Aug 2017 21:30 thanks any way for answering,I really appreciate as I don't know why it's coming down after being so careful.
Google why is my credit score dropping and you may find the answer.

Making new applications causes the score to drop along with the number of credit inquiries. Shopping for a loan might cause it to drop.
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Re: Credit Scores for free

Post by sepideh »

That's right.
I have not inquire for anything and no loan application, which reflects in my credit score too.
The only thing is that i have paid for my credits but the update doesnt show that.
Should I wait or contact them?
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adrian2
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Re: Credit Scores for free

Post by adrian2 »

sepideh wrote: 06 Aug 2017 23:40 The only thing is that i have paid for my credits but the update doesnt show that.
Should I wait or contact them?
Give it another month or two.

Unless you're going to be applying for credit in the immediate future, you should not have to care about daily fluctuations of your credit score and how quickly it reacts to changes in the input parameters.
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OnlyMyOpinion
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Re: Credit Scores for free

Post by OnlyMyOpinion »

Had occasion to look up my credit score and that of a family member recently.
Had never done so in the past, ever. Equifax report & score.
Results were totally unrepresentative of the credit risk of the family member.
I.e. garbage.
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Re: Credit Scores for free

Post by sepideh »

yes ,
I shouldn't check too quickly.
does this( too quick checking) by myself ,affect my score, negatively?
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AltaRed
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Re: Credit Scores for free

Post by AltaRed »

'Soft' inquiries do not (are not supposed to) count/affect credit score. It can take months for updates to happen to one's credit history. It is a matter of 'when' the affected credit institution decides to pass on updates to Equifax et al.
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Re: Credit Scores for free

Post by queerasmoi »

OnlyMyOpinion wrote: 07 Aug 2017 20:42 Had occasion to look up my credit score and that of a family member recently.
Had never done so in the past, ever. Equifax report & score.
Results were totally unrepresentative of the credit risk of the family member.
I.e. garbage.
Well as they say: Garbage in, garbage out.
Was their credit risk overstated or understated?

If overstated, then work to get the underlying info corrected. You may consider it to be garbage, but it's the garbage everyone else will see too when checking the family member's credit.
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Re: Credit Scores for free

Post by Hopetoretire »

Is the credit report provided free by RBC to account holders accurate overall? Or only based on investments held within this bank?
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Re: Credit Scores for free

Post by twa2w »

Yes it is accurate overall. It is provided by the credit bureau itself from your full credit file. It is direct pull from the CB on the date you access.
Overall would be the same score any crefitor would get if they pulled your bureau.
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Re: Credit Scores for free

Post by kumquat »

I have accounts with RBC and RBCDI. On one of their sites, I found "See my credit score". It was 859 out of 900. How does that impact (impact is not a verb, but I'll use it as such) my life? Why would I care?
I don't intend to offend anyone, that part is just a bonus.

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Re: Credit Scores for free

Post by adrian2 »

kumquat wrote: 26 Aug 2017 22:01 impact is not a verb, but I'll use it as such
http://www.dictionary.com/browse/impact?s=t
noun
1. the striking of one thing against another; forceful contact; collision:
The impact of the colliding cars broke the windshield.
2. an impinging:
the impact of light on the eye.
3. influence; effect:
the impact of Einstein on modern physics.
4. an impacting; forcible impinging:
the tremendous impact of the shot.
5. the force exerted by a new idea, concept, technology, or ideology:
the impact of the industrial revolution.

verb (used with object)
6. to drive or press closely or firmly into something; pack in.
7. to fill up; congest; throng:
A vast crowd impacted St. Peter's Square.
8. to collide with; strike forcefully:
a rocket designed to impact the planet Mars.
9. to have an impact or effect on; influence; alter:
The decision may impact your whole career. The auto industry will be impacted by the new labor agreements.

verb (used without object)
10. to have impact or make contact forcefully:
The ball impacted against the bat with a loud noise.
11. to have an impact or effect:
Increased demand will impact on sales.
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Re: Credit Scores for free

Post by twa2w »

kumquat wrote: 26 Aug 2017 22:01 I have accounts with RBC and RBCDI. On one of their sites, I found "See my credit score". It was 859 out of 900. How does that impact (impact is not a verb, but I'll use it as such) my life? Why would I care?
It is only relevant if you are a borrower, renter or in some cases have home/ auto insurance.

Higher score can make credit appoval easier, quicker and your rate may be lower although with most banks, the credit score is just one factor in the approval/rate matrix. Landlords may pull a credit bureau in deciding on tenant approval. Some insurance companies are now using credit scores in their approval and pricing.
But your score is excellent so no worries.
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Re: Credit Scores for free

Post by BRIAN5000 »

With CreditView1, a service from TransUnion, you can check your credit score and report – at no cost, and with no impact to your score. Simply sign on to your account through Scotia OnLine or the mobile banking app to get started.

Sign In to Scotia Online

http://www.scotiabank.com/ca/en/0,,1246 ... fgodve4EZg


May be a scam if so we've been scammed seems to work ok. Wifey has a credit card she didn't know she had, wrong address for me, wrong employer for wifey.
This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed
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AltaRed
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Re: Credit Scores for free

Post by AltaRed »

A lot of FI's are providing Transunion's CreditView through their online banking sites. I see it in Scotia, Capital One, BMO, etc. Probably a good service for most indebted Canadian consumers these days, given that up to now, one could only get their score once a year for free.

Credit score is pretty meaningless for those of us with no debt and no intention of incurring debt.

Off-topic, but FWIW, I still subscribe to Equifax's service to monitor and alert me to credit checks against my file and for my personal information being used for identity theft purposes. It may, or may not, be perfect but given the increasing prevalence of data breaches and identity theft, I may have a fighting change of catching 'theft in progress'.
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Re: Credit Scores for free

Post by gsp_ »

Does BMO really have this? I know RBC does.

The Scotia offering is ever so slightly better by having email alerts sent when something changes on your file.

Updates once a month, irrespective of the bank you use to reach CreditView. Logging in with a different bank will reset the date the first time but you’re accessing the same CV account.
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Re: Credit Scores for free

Post by AltaRed »

Maybe not BMO. Was pretty sure I saw it on their Mastercard tab....but don't see it now. Must have mistaken BMO for one of my others :?
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Re: Credit Scores for free

Post by gobsmack »

adrian2 wrote: 29 Jan 2017 13:55 For the free score and report from TransUnion, a painless registration at http://www.creditkarma.ca is all you need.
Is credit karma a good way of keeping track of one's credit report? I have never used it. I am wondering if many people in this forum use it.

Mainly, I want to keep track of my report in order to prevent fraud. It seems like every now and again some story like this shows up in the press.
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adrian2
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Re: Credit Scores for free

Post by adrian2 »

gobsmack wrote: 04 Feb 2019 07:46
adrian2 wrote: 29 Jan 2017 13:55 For the free score and report from TransUnion, a painless registration at http://www.creditkarma.ca is all you need.
Is credit karma a good way of keeping track of one's credit report? I have never used it. I am wondering if many people in this forum use it.

Mainly, I want to keep track of my report in order to prevent fraud. It seems like every now and again some story like this shows up in the press.
There are two credit reporting agencies in Canada: Equifax and TransUnion.

Creditors report to either one or both of them, so if you want to be on top of what's happening you will need to monitor both Equifax and TransUnion's files that they have on you.

Credit Karma provides access only to the TransUnion file.
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Re: Credit Scores for free

Post by Joebaba »

Hey Gobsmack,

I use Credit Karma (Transunion) and Borrowell (Equifax).
I do a quick check weekly of each, just to see if my score has changed and if there are any new credit inquiries on my file. I applied for a HomeTrust Visa last summer, and the inquiry showed up on my Borrowell report, but not my Credit Karma report.

Each provides an abbreviated report very similar to the printed reports I used to request from Equifax and Transunion.

Joe
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