Personal Finance

Credit Monitoring Options

  • Last Updated:
  • Aug 14th, 2019 8:48 am
[OP]
Member
Mar 12, 2003
479 posts
11 upvotes
Ontario

Credit Monitoring Options

Hi All,

Curious what my options are for ongoing credit monitoring and alerts at the lowest cost? I'm aware of the services by Equifax and Transunion but they are quite pricey. I believe Scotia and RBC provide it for free for their online banking customers.

1) Are there any other options?
2) Also, if I sign up for a Scotia CC, will I receive creditview for free?
3) are the ones offered by Scotia or RBC only the credit score or it is the full details of your credit report?

Thanks
11 replies
Deal Fanatic
Apr 5, 2016
5416 posts
3856 upvotes
Calgary/Vancouver
Borrowell for Equifax.
CreditKarma for Transunion.

Both free and offer both your score and credit report. Keep in mind the score is not necessary what is seen by lenders, even the ones provided by Equifax themselves to consumers is not the same as the beacon score seen by lenders.
Sr. Member
Jul 15, 2019
618 posts
461 upvotes
Credit karma will give you a free weekly update for Transunion... and Borrowell will be your free once a month version of Equifax.

Credit karma will send you alerts and such, while Borrowell I believe only refreshes once a month with no alerts.
Jr. Member
Sep 10, 2017
174 posts
165 upvotes
For RBC you get access to Transunion's credit view dashboard, which includes your score, score history, score simulator and credit report.
Banned
User avatar
Dec 15, 2017
1847 posts
599 upvotes
Toronto
I hope you know that all these credit alert services are reactive not preactive. In other words you will be alerted that you have been scammed or your ID stolen 24 hrs AFTER it happens, you might as well not pay anything and you will find out anyways. They don't prevent the scam from happening.
Deal Expert
Aug 22, 2011
35724 posts
21806 upvotes
Center of Universe
MusicBox wrote: I hope you know that all these credit alert services are reactive not preactive. In other words you will be alerted that you have been scammed or your ID stolen 24 hrs AFTER it happens, you might as well not pay anything and you will find out anyways. They don't prevent the scam from happening.
All of the above are free.
Within credit karma, you will get a notification if a new tradeline is opened.
[OP]
Member
Mar 12, 2003
479 posts
11 upvotes
Ontario
freeman93 wrote: Credit karma will give you a free weekly update for Transunion... and Borrowell will be your free once a month version of Equifax.

Credit karma will send you alerts and such, while Borrowell I believe only refreshes once a month with no alerts.
I'd prefer not to give my information to even more institutions like credit karma, so was leaning towards RBC or Scotia.
[OP]
Member
Mar 12, 2003
479 posts
11 upvotes
Ontario
bipster wrote: For RBC you get access to Transunion's credit view dashboard, which includes your score, score history, score simulator and credit report.
Can I get this access with just a credit card with RBC or must I have a bank account with them?
Jr. Member
Sep 10, 2017
174 posts
165 upvotes
redflagger wrote: Can I get this access with just a credit card with RBC or must I have a bank account with them?
I'm not sure, I have a student chequing account with them, (mostly keeping the account for the credit monitoring). Here's what I found on their website:
The TransUnion CreditView Dashboard is only available to existing RBC Online Banking clients who are age of majority in their province of residence.
Deal Addict
User avatar
Sep 6, 2018
1709 posts
2046 upvotes
Halifax, Nova Scotia
redflagger wrote: Can I get this access with just a credit card with RBC or must I have a bank account with them?
bipster wrote: I'm not sure, I have a student chequing account with them, (mostly keeping the account for the credit monitoring). Here's what I found on their website:
The TransUnion CreditView Dashboard is only available to existing RBC Online Banking clients who are age of majority in their province of residence.
Started my RBC relationship with a Visa card, that's all you need for CreditView Dashboard. Same at BNS.
[OP]
Member
Mar 12, 2003
479 posts
11 upvotes
Ontario
aweawea wrote: Started my RBC relationship with a Visa card, that's all you need for CreditView Dashboard. Same at BNS.
Any recomendations on a no fee RBC card? Also, once I have the card, I just need to register it to online banking and I'll have access to creditview?

Thanks
Deal Addict
User avatar
Sep 6, 2018
1709 posts
2046 upvotes
Halifax, Nova Scotia
redflagger wrote: Any recomendations on a no fee RBC card? Also, once I have the card, I just need to register it to online banking and I'll have access to creditview?

Thanks
Can't really "recommend" anything from RBC as none of it is that good... I wouldn't become an RBC client just for CreditView access, it's the same TransUnion score used by CreditKarma.

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