Personal Finance

ScotiaBank becomes second Canadian Bank to offer free credit score and report

  • Last Updated:
  • Nov 13th, 2019 10:22 am
Newbie
Feb 3, 2016
41 posts
24 upvotes
MoneyHypeMike wrote: I only have Scene VISA and it works for me.
I have a Scotia AMEX only and it works for me. I live in QC, so it’s great to see a free TU score, especially the CreditView and not the TransRisk.
Sr. Member
User avatar
Nov 4, 2008
626 posts
425 upvotes
GTA
MoneyHypeMike wrote: I only have Scene VISA and it works for me.
I also only have Momentum Visa with Scotia, does it work only when you login in desktop? I don't see anything on the app.
Deal Addict
Oct 22, 2015
1678 posts
585 upvotes
I wonder if this leads to the same account as RBC?
So with RBC the report is updated once a month, if you access the report via Scotia does it follow it's own monthly schedule or does it recognize that it it was accessed from RBC before.
Sr. Member
Aug 27, 2012
648 posts
699 upvotes
Calgary
I was checking on my new Passport Visa Infinite status on Scotia Online and I've noticed on there is a new link I have never seen before - NEW! See your credit score.

It's exactly the same as RBC's. It's in partnership with TransUnion so for those who have access to this service trough RBC it won't be any different other than different logo on top and a slighty different colour scheme.

However for those who don't have access to this service through RBC you can now also do this through Scotiabank.

Super easy to access and it also provides you with a way to play with you score interactively, see how it would be impacted if you were to apply for a new products, close a card, increase limit and stuff like that.

I personally think this is by far the best free credit monotoring tool available out there, better than Borrowell and Kredit Carma as it has more functionality and gives you access to a little bit more information.

Ways to access it trough Scotia Online:

Step 1 - Login to your Online Banking.

Step 2 - On the right side there should be a box "Manage My Account" and under "Additional Links" click NEW! See your credit score

Step 3 - Agree to terms and conditions for the first time use.

Step 4 - Enjoy

It looks like it updates one a month.
Member
User avatar
Apr 13, 2009
494 posts
433 upvotes
Toronto
It would be definitely nicer if Scotiabank did all the dirty work and presented score within their banking website interface.
But probably 3rd party doesn't allow that or it costs too much, so we better be thankful that there's this option.
I take it as an added benefit to my ScotiaAmex. (e.g. their isurance is also not provided by the Scotiabank)
Jr. Member
Jan 28, 2008
147 posts
71 upvotes
Ontario
Wow thanks so much!
Would be nice to be able to download the credit report, but I just printed each section as pdf and combined them.
I've been applying for a lot of the credit cards that are mentioned on RFD. I open and close them as soon as their introductory offers are used up. I'm amazed that my credit score is actually higher than I've ever known it to be! Some people think this hurts the credit score, but I have no evidence of it.
Really great service, thanks for posting this.
Jr. Member
Nov 24, 2016
109 posts
47 upvotes
Toronto
Not there for Student scene visa accounts :l

Edit: nvm there were two manage my accounts. Do not go to the one on the top right but there should be one at the middle of the page but on the right. thanks op
Deal Expert
Jan 7, 2002
29711 posts
29135 upvotes
Waterloo, ON
Thanks!

One nice feature is that you can simulate the effect of changes to your credit score when you do stuff like add CCs, retire old ones, get a loan, become delinquent, etc.

For instance I see that applying for a new CC would drop my score by 40 points. But what's really interesting is that applying for 2 or 3 cards would result in only a few mores points lost. So if you're going to apply for a card, you might as well apply for a couple of backups ;)
veni, vidi, Visa
Jr. Member
Oct 7, 2013
170 posts
95 upvotes
Westmount
this is awesome. I just have a mortgage with Scotia, live in QC and I see everything
Deal Addict
User avatar
Nov 12, 2011
3039 posts
1529 upvotes
Markham
Is TD the only one that's left without providing this service now?
Not buying something on sale ISN'T a crime, buying something not on sale IS.
Sr. Member
Dec 8, 2012
987 posts
644 upvotes
Calgary
now I have free TU rating from my RBC and Scotia accounts. Does any bank provide free Equifax rating?
Deal Fanatic
User avatar
Jun 3, 2006
9103 posts
4570 upvotes
12 days north of Hop…
Dennisrfd wrote: now I have free TU rating from my RBC and Scotia accounts. Does any bank provide free Equifax rating?
Not bank but Borrowell gives free Equifax reports.
Deal Guru
Dec 20, 2003
11537 posts
1041 upvotes
Ottawa
For free, the last time I logged into Credit Karama, they announced they are now using the TransUnion scores.
- Absolute
Member
May 13, 2013
367 posts
272 upvotes
Toronto
I noticed this yesterday as well. It is a (surprisingly) excellent new feature by Scotiabank x Transunion. Score is +/- 10 from my Borrowell score, which is pulled from Equifax.
Member
Dec 24, 2014
324 posts
668 upvotes
Toronto, ON
Thanks OP. Good to be able to understand more on how the scoring works.
Newbie
Feb 9, 2018
27 posts
70 upvotes
Edmonton
I am pretty sure that CIBC is providing free Equifax rating on their mobile app (it updates every three months though!!).
Deal Guru
User avatar
Aug 24, 2016
11669 posts
14023 upvotes
Win-ter-peg
wra45mon wrote: I wonder if this leads to the same account as RBC?
So with RBC the report is updated once a month, if you access the report via Scotia does it follow it's own monthly schedule or does it recognize that it it was accessed from RBC before.
It follows its own monthly schedule.
I have both RBC and Scotia products.

Top

Thread Information

There is currently 1 user viewing this thread. (0 members and 1 guest)