Personal Finance

Unlimited credit report/score updates

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  • Mar 7th, 2013 7:17 pm
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Deal Addict
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Nov 25, 2010
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Kanada

Unlimited credit report/score updates

Transunion used to be the only credit bureau in Canada to provide a credit monitoring service with unlimited updates (one in every 24 hours) of credit report and score through their "Credit Monitoring Unlimited" service which costs $14.95 per month

Now Equifax offers the "Complete Premier Plan" service for $19.95/mth which has unlimited credit report/score updates too and comes with a few extras.

Those products are useful for monitoring the progress of credit score rebuilding, or timing credit card applications with surges in credit score that come from lowering utilization
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Dec 1, 2011
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Winnipeg
SnoopDop wrote: Transunion used to be the only credit bureau in Canada to provide a credit monitoring service with unlimited updates (one in every 24 hours) of credit report and score through their "Credit Monitoring Unlimited" service which costs $14.95 per month

Now Equifax offers the "Complete Premier Plan" service for $19.95/mth which has unlimited credit report/score updates too and comes with a few extras.

Those products are useful for monitoring the progress of credit score rebuilding, or timing credit card applications with surges in credit score that come from lowering utilization
Equifax introduced that product a few months back, maybe even more. It's useful to be on top of your rebuilding yes, but the score provided is only the Equifax Credit Score. This score is an educational tool only, and is meant to give you a ballpark idea of what your real credit score might be. So I certainly wouldn't rely on that score when trying to set yourself up for a high enough score to apply for a certain credit product. Lenders pull Fico scores. The Equifax Credit Score may score certain things much differently than the Fico model.
Again, it's meant for educational purposes only.
Can you believe it? They sent my income tax return forms back to me! In response to question # 4, "Do you have any dependants?" I replied - "2.1 million illegal immigrants, 1.1 million crack heads, 4.4 million unemployable people, 901 thousand people in over 85 prisons, and 650 idiots in Parliament.
Apparently, this was NOT an acceptable answer.

Who the hell did I miss? :razz:
Sr. Member
Nov 28, 2010
979 posts
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Toronto
At some point I used both and still don't understand why my score at Transunion is higher than one at Equifax by over 130 points.
Also noticed that score that bank pulled from Equifax at the time I applied for a credit was 100 points higher than the one I saw online using Equifax credit score monitoring system.
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Dec 1, 2011
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yp_1 wrote: At some point I used both and still don't understand why my score at Transunion is higher than one at Equifax by over 130 points.
Each scoring model scores differently, though in your case, that's a very significant difference. Perhaps a long standing missing account on Equifax? Also, TransUnion keeps closed accounts that were in good standing, for 20 years, so it's quite possible there is an older closed account showing on TransUnion, that doesn't appear on Equifax anymore because it has purged, making your credit history longer on TransUnion. This is likely the case.

yp_1 wrote: Also noticed that score that bank pulled from Equifax at the time I applied for a credit was 100 points higher than the one I saw online using Equifax credit score monitoring system.
That's because the score you get from the free trial is the Equifax Credit Score, like I stated above. This is not your actual score that lenders pull.
Can you believe it? They sent my income tax return forms back to me! In response to question # 4, "Do you have any dependants?" I replied - "2.1 million illegal immigrants, 1.1 million crack heads, 4.4 million unemployable people, 901 thousand people in over 85 prisons, and 650 idiots in Parliament.
Apparently, this was NOT an acceptable answer.

Who the hell did I miss? :razz:
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Nov 25, 2010
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wayne74 wrote: That's because the score you get from the free trial is the Equifax Credit Score, like I stated above. This is not your actual score that lenders pull.
I thought the FICO score present in the United States only. If not, how can someone retreive his FICO score in Canada ?
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SnoopDop wrote: I thought the FICO score present in the United States only. If not, how can someone retreive his FICO score in Canada ?
Fico is actually used nationally. More in the U.S and Canada though. Some banks use pure Fico's, while others use Fico along with their own internal scoring, to arrive at a totally different number altogether.
Equifax offers the Fico Score to the consumer, though they don't make it easy to find on their website, because they would rather sell you their own (Equifax Credit Score) because they make 100% profit from it.

Rather than guide you to where it is, I'll include the direct link to it http://www.consumer.equifax.ca/credit-s ... fico/en_ca

TransUnion does not offer Fico to the consumer, only their own score (TransRisk)
Can you believe it? They sent my income tax return forms back to me! In response to question # 4, "Do you have any dependants?" I replied - "2.1 million illegal immigrants, 1.1 million crack heads, 4.4 million unemployable people, 901 thousand people in over 85 prisons, and 650 idiots in Parliament.
Apparently, this was NOT an acceptable answer.

Who the hell did I miss? :razz:

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