Personal Finance

Comparing the consumer accessible credit scores

  • Last Updated:
  • Oct 20th, 2019 4:41 pm
[OP]
Deal Addict
Dec 12, 2009
3468 posts
1315 upvotes
Toronto

Comparing the consumer accessible credit scores

By now most of us know and recognize that there are a number of differing credit score models available for purchase by our creditors. Each model or version provides different scores for different purposes.

Not that much has been said about the various scores consumers can obtain for their personal credit profiles. There has been mention and questions about how these scores relate. The purpose of this thread is to collect enough data points that might help us as a group to determine if there are any trends etc.

I'll group the consumer score sources in 3 groups. The credit bureaus, scores through the banks, scores through 3rd parties. Followed by the scoring models used and the update frequency in brackets. If you are able to obtain a report through the source it is indicated by a +Report. Followed by Alerts if you are notified of changes or inquiries.

Credit Bureaus - purchased or free as a result of breaches
Equifax - ERS 1.0 (daily - midnight refresh) +Report
TransUnion - Trans Risk TU 1.0 (daily - 24 hr refresh) +Report

Banks - scores available through either apps or online banking
CapitalOne - TransUnion CreditVision Risk Score (Weekly) +Report
CIBC - Equifax ERS 2.0 (Quarterly) +(Report not available) Alerts via SMS / email / App / Online messages
Motusbank - Equifax ERS 2.0 (with rate quote only)
RBC (Royal) - TransUnion CreditVision Risk Score (Monthly) +Report
BNS (Scotia) - TransUnion CreditVision Risk Score (Monthly) +Report Alerts via online & email / online

Third Parties -
Borrowell* - Equifax ERS 2.0 (Monthly*) +Report
CreditKarma - TransUnion CreditVision Risk Score (Weekly) +Report
MyTrueIdentity - TransUnion CreditVision Risk Score (Daily) + Report and Alerts
Mogo - Equifax ERS 2.0 (monthly)
ratehub.ca - Equifax ERS 2.0 (Continual pulls, unknown updates)
verified.me - Equifax ERS 2.0 (30 days or new application)

* For some people, Borrowell started updating scores weekly - see posts 56 & 59.

I'll try to update the list, editing changes as time goes on for a while. Or feel free to use the thread summary.

Let's see what comes up as people start posting their scores or differences. Please don't try to make this a score envy thing.

Edits:
Aug 17, 2109
changed "Creditview" to "CreditVision Risk Score"
changed to Mogo to Equifax ERS 2.0
added verified.me/ratehub.ca - ERS 2.0
started adding update frequencies as they become known

Aug 18, 2019
Added report availability as suggested by @DaveProductions

Aug 30, 2019
Added TU & EQ refresh times as suggested by @hopetindall

Sept 7, 2019 added MyTrueIdentity & changes thanks to @mkl38s

Oct 20, 2019 added a chart giving a graphic visualization of the score ranges across all 4 sources
Last edited by ROYinTO on Oct 20th, 2019 4:42 pm, edited 22 times in total.
If you are getting different credit scores from different sources please post them here:
Comparing the consumer accessible credit scores
89 replies
[OP]
Deal Addict
Dec 12, 2009
3468 posts
1315 upvotes
Toronto
It has become obvious from responses & editing the OP over the last couple of days that the consumer has access to 4 possible scores for their credit profile. Depending on the source, there are differences in the frequency of updates.

Through the credit bureaus you can get either the Equifax ERS 1.0 or TransUnion Trans Risk TU 1.0.

From all the others you can get either the Equifax ERS 2.0 or TransUnion CreditVision Risk Score.

Anecdotal observations in reading other threads indicated that with lower scores the differences are closer together, higher scores show greater deviation.

Please post your scores so we can either support or refute the observations.
Last edited by ROYinTO on Aug 18th, 2019 1:20 pm, edited 1 time in total.
If you are getting different credit scores from different sources please post them here:
Comparing the consumer accessible credit scores
[OP]
Deal Addict
Dec 12, 2009
3468 posts
1315 upvotes
Toronto
Here is a post by @bdf1992 that should serve as a good start:
I am aware that scotia uses trans unions model and botrowell uses Equifax model. That’s why I have been keeping an eye on all 4 so I can compare the free versions vs paid.

My Equifax paid version is currently at 600.
Borrowell score is 620.

Transunion paid score is 595.
Scotia Creditview is 606
If you are getting different credit scores from different sources please post them here:
Comparing the consumer accessible credit scores
Sr. Member
User avatar
Mar 3, 2005
944 posts
607 upvotes
Mississauga
As of Aug 17th, 2019

My scores are:

TransUnion Trans Risk (TU 1.0) = 699
TransUnion CreditVision Risk (Credit Karma, RBC, Scotiabank, Cap 1, etc.) = 842
Equifax ERS 2.0 (Borrowell, Mogo, etc.) = 708
Sr. Member
User avatar
Mar 3, 2005
944 posts
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Mississauga
ROYinTO wrote:
Aug 16th, 2019 9:30 pm

CapitalOne - TransUnion Creditview
RBC (Royal) - TransUnion Creditview
BNS (Scotia) - TransUnion Creditview
CreditKarma - TransUnion Creditview

actually 'Creditview' is the product they make available BNS/RBC, etc. that displays your score and info in their online banking product.

'TransUnion CreditVision Risk Score' is the name of the score these use.
Deal Addict
Nov 8, 2017
1079 posts
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When I applied for a PLOC with motusbank, my score was 722, while my borrowell score was 721

Pretty close
Sr. Member
Sep 24, 2013
815 posts
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Ontario
My paid Equifax ( free for a year) score is 762 and Borrowell on the same date (16th) is 793. I don't know my TransUnion score but Credit Karma and Scotia's Credit Vision is 802 on the 16th of this month.
[OP]
Deal Addict
Dec 12, 2009
3468 posts
1315 upvotes
Toronto
hopetindall wrote:
Aug 17th, 2019 1:27 am
As of Aug 17th, 2019
TransUnion CreditVision Risk (Credit Karma, RBC, Scotiabank, Cap 1, etc.) = 842
Equifax ERS 2.0 (Borrowell, Mogo, etc.) = 708
Are you indicating the same score is available from multiple sources or that it came from sources?
Fixed Mogo to Equifax ERS 2.0
hopetindall wrote:
Aug 17th, 2019 1:29 am
actually 'Creditview' is the product they make available BNS/RBC, etc. that displays your score and info in their online banking product.

'TransUnion CreditVision Risk Score' is the name of the score these use.
Thanks for pointing that out @hopetindall - fixed in OP
If you are getting different credit scores from different sources please post them here:
Comparing the consumer accessible credit scores
[OP]
Deal Addict
Dec 12, 2009
3468 posts
1315 upvotes
Toronto
User455957 wrote:
Aug 17th, 2019 8:32 am
When I applied for a PLOC with motusbank, my score was 722, while my borrowell score was 721

Pretty close
Yes they are close. Do you know the source for motusbank?
If you are getting different credit scores from different sources please post them here:
Comparing the consumer accessible credit scores
[OP]
Deal Addict
Dec 12, 2009
3468 posts
1315 upvotes
Toronto
An initial search RFD for Motusbank and scores resulted in this post which indicates Motusbank is using the Equifax Beacon Score.
Minimum requirements:

You are a Canadian Resident.
You have a valid Canadian address (excluding Quebec).
Your beacon score is 650 or higher.
Can anybody confirm what they are using?
If you are getting different credit scores from different sources please post them here:
Comparing the consumer accessible credit scores
Sr. Member
User avatar
Mar 3, 2005
944 posts
607 upvotes
Mississauga
ROYinTO wrote:
Aug 17th, 2019 10:54 am
Should I add this score model to the OP?
Don't know.

This is the (totally useless) score that is available for sale from the TU web site.
Nobody should be paying for this (I received a free 1 year certificate).

Nevertheless, some people will have it.
Member
Sep 16, 2012
460 posts
281 upvotes
GTA/London
3rd parties: verified.me/ratehub.ca - ERS 2.0

Motus does not provide a free credit score- what previous posters meant that your Beacon/FICO score needs to be above 650 to qualify. ASFAIK no one provides beacon score.

I'm pretty sure CIBC is also providing ERS 2.0 (?)
💳: Scotia Amex Gold, Rogers WE, PCF WE
Sr. Member
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Mar 3, 2005
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Mississauga
DaveProductions wrote:
Aug 17th, 2019 1:52 pm
I'm pretty sure CIBC is also providing ERS 2.0 (?)
That's correct - CIBC provide the ERS 2.0 score from Equifax.

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