Personal Finance

CIBC free credit score with app update

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  • Oct 13th, 2017 11:06 pm
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ace604 wrote:
Jun 2nd, 2017 10:03 pm
"an Equifax credit score" is not the same as "the Equifax Credit Score".

If you cite a source that describes them as being the same that would be great.
I guess you think a tomato and a tomoto are two different things too.
Just because things are named or presented slightly different, doesn't make them different.
borrowellrob has verified long ago directly with their Equifax contact, that ERS 1.0 is the score provided for the monitoring product.
But I don't expect you to believe me.
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coolintheshade wrote:
Jun 2nd, 2017 9:52 pm
They're not different, they're one and the same.
ERS scores ARE an Equifax credit score.
They're marketed to the consumer as Equifax Credit Score, and to the industry as ERS (Equifax Risk Score), but they are the same.
ace604 wrote:
Jun 2nd, 2017 10:03 pm
"an Equifax credit score" is not the same as "the Equifax Credit Score".

If you cite a source that describes them as being the same that would be great.
I understand you are saying that "Equifax Credit Score™" is the same as "Equifax Risk Score" aka ERS 1.0 ... but ... I don't see any evidence of that (yet)... and I was looking for it.

I haven't found any yet. Some service marks I see ...

"Equifax Risk ScoreSM 3.0 (ERS 3.0)" http://www.equifax.com/biz/debt_recover ... %203.0.pdf
"Equifax Risk Score™ 2.0" http://www.equifax.com/assets/canada/en ... s_2_ps.pdf
"Equifax Risk Score" http://www.equifax.com/pdfs/corp/ERS_BR ... NGLISH.pdf
"Equifax Credit Score™" http://www.consumer.equifax.ca/credit-score-ca/en_ca
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
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ace604 wrote:
Jun 2nd, 2017 10:13 pm
I understand you are saying that "Equifax Credit Score™" is the same as "Equifax Risk Score" aka ERS 1.0 ... but ... I don't see any evidence of that (yet)... and I was looking for it.

I haven't found any yet. Some service marks I see ...

"Equifax Risk ScoreSM 3.0 (ERS 3.0)" http://www.equifax.com/biz/debt_recover ... %203.0.pdf
"Equifax Risk Score™ 2.0" http://www.equifax.com/assets/canada/en ... s_2_ps.pdf
"Equifax Risk Score" http://www.equifax.com/pdfs/corp/ERS_BR ... NGLISH.pdf
"Equifax Credit Score™" http://www.consumer.equifax.ca/credit-score-ca/en_ca
I guess the way to get a definitive answer, is straight from the source.
You say you have the monitoring service? I'm sure there is a number to call and ask, as a customer, just what score it is that you're receiving.
borrowellrob says Equifax told him it's ERS 1.0, I believe somewhere in the Borrowell thread, because of all the people wondering why their score was different with Equifax and Borrowell. So he took it upon himself to find out what score is presented with that monitoring product.
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coolintheshade wrote:
Jun 2nd, 2017 10:26 pm
I guess the way to get a definitive answer, is straight from the source.
You say you have the monitoring service? I'm sure there is a number to call and ask, as a customer, just what score it is that you're receiving.
borrowellrob says Equifax told him it's ERS 1.0, I believe somewhere in the Borrowell thread, because of all the people wondering why their score was different with Equifax and Borrowell. So he took it upon himself to find out what score is presented with that monitoring product.
I'm on hold with them now ... "due to increased breach activity our call centres continue to experience higher than normal volume ...."

blach. I was actually going to ask about this and which FICO version they offer with "Score Power" ... but then again ... CSR answers are to be taken with a grain of salt anyways.
Last edited by ace604 on Jun 2nd, 2017 10:30 pm, edited 1 time in total.
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
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hvwozq wrote:
Jun 2nd, 2017 10:25 pm
Who actually cares about this when there are many other free options, and even better ones? CIBC can't even show pending credit card transaction, but keeps adding useless features hardly anyone cares about.
I'd have to agree, given the other options already available (Borrowell, Mogo and RateHub), that already offer the same score, updated at the same frequency, with the exception of RateHub. EDIT: Mogo actually updates monthly apparently.
Now if they offered more frequent updates, like Credit Karma, it might not have been so pointless.
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hvwozq wrote:
Jun 2nd, 2017 10:25 pm
Who actually cares about this when there are even better free options? CIBC can't even show pending credit card transactions, but keeps adding useless features hardly anyone cares about.
coolintheshade wrote:
Jun 2nd, 2017 10:31 pm
I'd have to agree, given the other options already available (Borrowell, Mogo and RateHub), that already offer the same score, updated at the same frequency, with the exception of RateHub.
Now if they offered more frequent updates, like Credit Karma, it might not have been so pointless.
It's about visibility & exposure. More people use CIBC than visit RFD and read about borrowell (or read about them elsewhere).

Pure marketing. A lot of people here already know about it ... a lot of CIBC users do not though.
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
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ace604 wrote:
Jun 2nd, 2017 10:30 pm
I'm on hold with them now ... "due to increased breach activity our call centres continue to experience higher than normal volume ...."

blach. I was actually going to ask about this and which FICO version they offer with "Score Power" ... but then again ... CSR answers are to be taken with a grain of salt anyways.
Did you happen to get in contact with Equifax?
Here's an indication that supports my suspicion that ERS and Equifax Credit Score are one and the same.

Image

This is from the new CIBC free credit score option.
It mentions Equifax Credit Score and ERS 2.0 on the same screen when you get your free score.
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ace604 wrote:
Jun 2nd, 2017 10:13 pm
I understand you are saying that "Equifax Credit Score™" is the same as "Equifax Risk Score" aka ERS 1.0 ... but ... I don't see any evidence of that (yet)... and I was looking for it.

I haven't found any yet. Some service marks I see ...

"Equifax Risk ScoreSM 3.0 (ERS 3.0)" http://www.equifax.com/biz/debt_recover ... %203.0.pdf
"Equifax Risk Score™ 2.0" http://www.equifax.com/assets/canada/en ... s_2_ps.pdf
"Equifax Risk Score" http://www.equifax.com/pdfs/corp/ERS_BR ... NGLISH.pdf
"Equifax Credit Score™" http://www.consumer.equifax.ca/credit-score-ca/en_ca
do you happen to know any lenders that use 3.0 yet? i heard it completely omits paid collections from the score calculation. but that obviously the lenders that use this model can see your report and have varying criteria instead of just the score to determine creditworthiness, but it'll be nice to not be so penalized for a paid collection anymore.
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ace604 wrote:
Jun 2nd, 2017 10:30 pm
I'm on hold with them now ... "due to increased breach activity our call centres continue to experience higher than normal volume ...."
Thanks for the heads up - time to check my accounts. Was breached earlier this year, what a PITA.

On edit: I wonder if the issues have anything to do with Android pay going live?
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Dec 21, 2010
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Couldn't find any thread on this. The iOS CIBC mobile app now offers credit score. Haven't check Android app yet
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khkchan wrote:
Jun 11th, 2017 1:07 am
Haven't check Android app yet
Had to update app but it shows up.
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Feb 28, 2015
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I can't seem to find the option on Android (newest update).
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nahsha wrote:
Jun 11th, 2017 2:28 pm
I can't seem to find the option on Android (newest update).
Click the menu bar in the top EDIT *left* hand corner and scroll down near the bottom
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So just to make sure I'm understanding this right.

If I am a CIBC customer, and I navigate in my phone settings to view my score, I am essentially signing up for the Borrowell offer, so that they can view my credit score. This is all being done with CIBC as the intermediary, but BOTH Borrowell & CIBC can see my score, not just CIBC.

Is my understanding correct?

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