Personal Finance

RBC 'View your credit score' option via Trans Union

  • Last Updated:
  • Jul 18th, 2017 4:26 pm
Deal Guru
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Aug 8, 2012
10111 posts
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BC
seaker wrote:
Jun 17th, 2017 7:40 pm
Thanks for sharing this, OP! Tried it for the first time just now and it worked fine. I have enough credit at the moment, so I'm fine w/ their results and no need to compare w/ other organizations. One thing I found interesting... by opting to remove my oldest card via their simulator, I only dropped down 9 points. The way that some people go on about this, I would've expected it to be much more.
Removing your oldest card has no impact on the age component of your score until that closed account drops off your report YEARS later. Any immediate impact would more likely be related to total utilization increasing due to total limit decreasing.

Does their simulator fully remove it, or simulate it closing? Can you simulate dropping the limit to $1 instead? Is that one card way older than your second oldest? ... average age?

... and most importantly ... does their simulator suck? :D
POLL: How frequent is your RRSP-matching?
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Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
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Aug 24, 2016
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ace604 wrote:
Jun 17th, 2017 10:19 pm

... and most importantly ... does their simulator suck? :D
That's an easy one. Yes it does.
Deal Addict
Jan 21, 2014
1882 posts
432 upvotes
Agree with the simulator. I tried it out by increasing $5K limit on all of my accounts (7 CCs + HELOC) and then reducing $5K from all accounts. Both resulted in dropping 9 points of my score. I tried with open new CC with $20K limit (which I think my new Amex card will be coming soon) and my score dropped 19 points. So will see if that will be true or not
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Aug 24, 2016
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mkl38s wrote:
Jun 17th, 2017 11:16 pm
Agree with the simulator. I tried it out by increasing $5K limit on all of my accounts (7 CCs + HELOC) and then reducing $5K from all accounts. Both resulted in dropping 9 points of my score. I tried with open new CC with $20K limit (which I think my new Amex card will be coming soon) and my score dropped 19 points. So will see if that will be true or not
As I said in posts 29 and 32, I selected allow all accounts to go 30 days delinquent, and the score would decrease only 8 points.
Selecting allow 1 account to go 30 days delinquent, resulted in a 9 point increase :lol:
So yeah, it's crap.
Newbie
Nov 15, 2008
71 posts
6 upvotes
Vancouver
ace604 wrote:
Jun 17th, 2017 10:19 pm
Removing your oldest card has no impact on the age component of your score until that closed account drops off your report YEARS later. Any immediate impact would more likely be related to total utilization increasing due to total limit decreasing.

Does their simulator fully remove it, or simulate it closing? Can you simulate dropping the limit to $1 instead? Is that one card way older than your second oldest? ... average age?

... and most importantly ... does their simulator suck? :D
I cancelled my oldest card, a BMO MC, less than a year ago. It offered no rewards whatsoever, so I saw no point in keeping it, esp. since I had to remember to use it at least once a year. I'm now looking at cancelling my CIBC Classic Visa as the only reason I got that card was for Aeroplan points. I think I've had it for about a decade tops, but as with the MC, I see no reason to keep it, esp. paying the annual fee for the sake of my credit score.
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Aug 8, 2012
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BC
seaker wrote:
Jun 18th, 2017 12:25 am
I cancelled my oldest card, a BMO MC, less than a year ago. It offered no rewards whatsoever, so I saw no point in keeping it, esp. since I had to remember to use it at least once a year. I'm now looking at cancelling my CIBC Classic Visa as the only reason I got that card was for Aeroplan points. I think I've had it for about a decade tops, but as with the MC, I see no reason to keep it, esp. paying the annual fee for the sake of my credit score.
Not sure about BMO (too late now anyways) but CIBC lets you convert cards.
I've had a free Petro-Points MasterCard converted to a $99(?) (FYF waived) Visa Infinite and then back to a free one a year later (Dividend Visa). This is all consider one original trade line on the credit report with the original open date from back when CIBC took over Petro-Points from Citibank 10+ years ago or so.

No need to pay a fee to keep a card open ... and at some point you might get a free bonus out of a switch like I did above with the 4% for first few months on the free Dividend Visa Infinite.

I wouldn't keep paying a fee for the sake of keeping an account open 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...)
Jr. Member
Jul 2, 2015
153 posts
42 upvotes
MoneyHypeMike wrote:
Jun 17th, 2017 7:39 am
I only have the USD saving account too and it works for me. And I am from Quebec!!!
That's great because someone on another forum mentioned that Credit Karma wasn't available to residents of Quebec. :rolleyes:
Sr. Member
Aug 17, 2012
983 posts
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Windsor
When i tried , it says coming soon..
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Aug 18, 2005
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GTA West
asgr815 wrote:
Jun 16th, 2017 3:53 pm
I see it there but it says Coming Soon when i click on it. :rolleyes:
I saw the 'View Your Credit Score' option in RBC. I also got the 'coming soon' message.
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Dec 17, 2008
1636 posts
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Winnipeg
Jucius Maximus wrote:
Jun 18th, 2017 2:51 pm
I saw the 'View Your Credit Score' option in RBC. I also got the 'coming soon' message.
I had the option there yesterday and got the coming soon message....today the link isn't anywhere to be found on my online banking. So it changes day to day. lol
*Do you like someone's idea, post, or response? Why not consider giving them "thanks" and clicking the thumbs up to give them the credit they deserve. This will help eliminate the need to quote their whole post to say "thanks" or "+1' which just clutters up the whole thread*
Deal Fanatic
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Jul 17, 2008
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Guess banks need a way to keep customers who they bleed to online banking with all their fees. Tempting, but not going to open an account and pay monthly fee just to get a credit report.
Sr. Member
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Jan 19, 2007
606 posts
166 upvotes
Toronto
I worked through the TransUnion simulator and I needed to click through all options only to understand that I am maxed-out.
It makes me wonder why such UI actions can't be automated nd the engine to offer you how you can bump your score (if you care to) -- only then allow it to fine-tune further
Their "Score Factors" are just bland and non-specific and non-actionable statements

I only liked the Credit Report where you can drill-down into your accounts and see how it performed over the periods.
Meeh...
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Mar 9, 2012
559 posts
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Messerschmitt wrote:
Jun 18th, 2017 6:37 pm
Guess banks need a way to keep customers who they bleed to online banking with all their fees. Tempting, but not going to open an account and pay monthly fee just to get a credit report.
You can have a stand alone RBC US e-saving, no monthly fee, no minimum balance and still have access to that feature.
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Jul 17, 2008
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skunkyjosh wrote:
Jun 19th, 2017 2:35 am
You can have a stand alone RBC US e-saving, no monthly fee, no minimum balance and still have access to that feature.
Ah, good catch then. And is this RBC credit report similiar to me just ordering a credit report from Trans Union directly?
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Feb 10, 2013
3657 posts
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Richmond
mkl38s wrote:
Jun 16th, 2017 4:26 pm
Transunion has so many incorrect information about myself. When I applied for credit card that hit Transunion, I always had 1 or 2 questions that had no correct answers to choose. The most consistent one was the last 4 digit of my SIN. Every single time with that question, none of the answers had the correct numbers so I always picked random one. When I saw the report from Credit Karma, there were 4 accounts stated open but I didn't have them more than 10 years back. A Scotia line of credit I closed in 2002, EATON CC that last used was 1999, PC MC that I closed in 2003 and a TD VISA that I closed in 1997. They also missed 2 of my past employers
You need to let them know via phone or paper dispute. In my case Td is the culprit. Td tried to fix it but fixed the wrong credit bureau when I applied for mbna rtp.

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