How to Get a Free Credit Score in Canada
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Unlock your credit score instantly with platforms like Borrowell and Credit Karma-no fees, no credit impact, just clarity on your financial health.
Why Your Credit Score Matters
Your credit score shapes every major financial decision you make. Pair this guide with our overview of how to check your score, the TransUnion-specific breakdown, and whether checking actually lowers it. Lenders examine this three-digit number-ranging from 300 to 900 in Canada-to determine whether you qualify for mortgages, car loans, or the best credit cards in Canada.
A higher score unlocks better interest rates and larger credit limits. A lower score could mean rejection or steep borrowing costs that add thousands of dollars over the life of a loan.
Landlords also check credit scores before approving rental applications. Some employers review credit reports for positions involving financial responsibility. Cell phone providers and utility companies may require deposits from applicants with weaker credit profiles.
Monitoring your score helps you spot errors, track progress, and catch potential fraud early. The good news: you can check your score as often as you like without any negative impact.
Canada’s Two Credit Bureaus
Equifax Canada and TransUnion Canada maintain credit files for every Canadian with a borrowing history. These private companies collect data from creditors-banks, credit card issuers, lenders-and calculate your score based on five key factors.
- Payment history (35%): Whether you pay bills on time
- Credit utilization (30%): How much of your available credit you use
- Credit history length (15%): How long your accounts have been open
- Credit mix (10%): Variety of credit types (cards, loans, lines of credit)
- New credit inquiries (10%): Recent applications for credit
Both bureaus use similar algorithms but may hold slightly different information. One lender might report to Equifax only, while another reports to both bureaus. That’s why your Equifax and TransUnion scores can differ by a few points.
Score Ranges in Canada
| Score Range | Rating | What It Means |
|---|---|---|
| 760-900 | Excellent | Best rates on mortgages and loans |
| 725-759 | Very Good | Access to premium credit products |
| 660-724 | Good | Approved for most credit at reasonable rates |
| 560-659 | Fair | May face higher interest rates |
| 300-559 | Poor | Difficulty getting approved; secured products may be required |
Most lenders look for a score of at least 660 to approve standard credit products. For mortgages, you typically need 680 or higher. Premium rewards cards often require scores above 725.
Free Credit Score Platforms
Several services let you check your credit score for free in Canada. These platforms partner with Equifax or TransUnion to pull your data and display it in user-friendly dashboards.
Borrowell (Equifax)
Borrowell provides free access to your Equifax credit score and report. The platform updates your score weekly and sends alerts when changes occur. You’ll also see personalized credit improvement tips based on your file.
The company earns revenue by recommending financial products-loans, mortgages, credit cards-from partner institutions. You’re never obligated to apply for anything. The service remains completely free whether you use the recommendations or not.
Credit Karma (TransUnion)
Credit Karma offers free TransUnion credit scores and reports. The platform updates weekly and includes credit monitoring alerts. You’ll receive notifications when new accounts appear, inquiries are made, or significant changes affect your file.
Like Borrowell, Credit Karma operates as a financial marketplace. The platform suggests credit cards, loans, and other products based on your credit profile. Rates and terms may vary by financial institution.
ClearScore (TransUnion)
ClearScore pulls data from TransUnion and provides free credit scores with monthly updates. The platform offers both free and paid monitoring plans-the free version includes score access and basic insights, while paid tiers add dark web monitoring and identity theft insurance.
ClearScore partners with over 200 financial institutions to offer personalized product recommendations. The free service works well for consumers who want basic monitoring without ongoing alerts.
Mogo
Mogo combines free credit score access with broader personal finance tools. The platform includes identity fraud protection features, budgeting dashboards, and financial management resources. Mogo also offers additional financial products through its ecosystem.
Bank-Provided Credit Scores
Many Canadian banks now offer free credit score access directly through their mobile banking apps. These services typically require an existing account with the institution.
TD CreditView Dashboard
TD customers can access their TransUnion credit score through the TD mobile app. The CreditView Dashboard refreshes weekly and includes fraud-detecting alerts. You can view your credit history, see how financial actions might impact your score, and track changes over time.
This feature is available only through the TD app, not EasyWeb. You’ll need to agree to TransUnion’s terms and conditions to activate the service.
BMO Credit Coach
BMO partnered with TransUnion to launch Credit Coach, a no-fee tool available through BMO online and mobile banking. The platform provides instant access to your TransUnion score, personalized improvement tips, and actionable steps to build credit.
Credit Coach includes score simulators that show how different actions-paying down balances, opening new accounts-might affect your score. The tool updates regularly and sends alerts for significant changes.
Interac Verification Service
The Interac verification service app lets you check your Equifax credit score range for free. You log in using your existing bank credentials, swipe to the credit score feature, and view your current range. The app also offers digital identity verification for select services.
This service won’t affect your credit rating. It operates as a soft inquiry, just like third-party platforms.
Free Credit Reports vs Scores
Your credit report contains detailed information about your borrowing history-every loan, credit card, payment, and inquiry. Your credit score is a single number calculated from that report.
You’re entitled to one free credit report annually from Equifax and TransUnion by mail. These reports don’t include your actual score, but they show every account, payment history, and public records like bankruptcies or collections.
- Check for errors: Ensure all accounts belong to you and balances are accurate
- Spot fraud: Look for accounts you didn’t open or inquiries you didn’t authorize
- Understand factors: See which debts impact your score most
- Track progress: Monitor how paying down debt improves your profile
To request your free report, contact Equifax at 1-800-465-7166 or TransUnion at 1-800-663-9980. You can also complete request forms available on their websites and submit them by mail or fax.
Does Checking Hurt Your Score?
No. Checking your own credit score is classified as a soft inquiry and has zero impact on your credit rating. You can check as often as you like-daily, weekly, or monthly-without any consequences.
Hard inquiries occur when you apply for new credit. A lender pulls your full credit report to make an approval decision. Each hard inquiry can lower your score by a few points temporarily. Multiple hard inquiries within a short period signal higher risk to lenders.
| Inquiry Type | When It Happens | Impact on Score |
|---|---|---|
| Soft Inquiry | Checking your own score, pre-approvals, background checks | No impact |
| Hard Inquiry | Applying for credit cards, loans, mortgages | Small temporary drop (5-10 points) |
Free credit score platforms use soft inquiries exclusively. Banks offering score access through mobile apps also use soft inquiries. You’ll never damage your credit by monitoring it through these services.
How Often Should You Check?
Most financial experts recommend checking your credit score at least once per month. Regular monitoring helps you catch errors quickly, track the impact of good financial habits, and spot potential fraud before it escalates.
Free platforms like Borrowell and Credit Karma update your score weekly. Setting a monthly reminder ensures you stay informed without obsessing over minor fluctuations.
- Before major applications: Check your score 3-6 months before applying for a mortgage or car loan to identify improvement opportunities
- After paying off debt: Monitor how large payments affect your score in the following weeks
- After suspicious activity: If you receive unexpected credit offers or suspect identity theft, check immediately
- Annually for accuracy: Order your full credit report once per year to verify all information is correct
Comparing Free Services
| Platform | Bureau | Update Frequency | Key Features |
|---|---|---|---|
| Borrowell | Equifax | Weekly | Credit monitoring alerts, personalized tips, financial marketplace |
| Credit Karma | TransUnion | Weekly | Score monitoring, change alerts, product recommendations |
| ClearScore | TransUnion | Monthly (free tier) | Score access, insights, optional paid monitoring |
| Mogo | Equifax | Regular updates | Identity protection, budgeting tools, financial products |
| TD CreditView | TransUnion | Weekly | Fraud alerts, score simulation (TD customers only) |
| BMO Credit Coach | TransUnion | Regular updates | Score simulator, improvement tips (BMO customers only) |
Many Canadians use both Borrowell and Credit Karma to monitor scores from both bureaus. This approach gives you the most complete picture of your credit health.
What to Do With Your Score
Once you know your credit score, you can take targeted action to improve it or leverage it for better financial products.
If Your Score Is 725+
- Apply for premium rewards cards: You likely qualify for the best travel and cash back offers
- Negotiate better rates: Use your strong credit to request lower interest rates on existing loans
- Shop for mortgages: You’ll access the most competitive mortgage rates available
- Maintain good habits: Keep utilization under 30% and pay bills on time to preserve your score
If Your Score Is 660-724
- Focus on utilization: Pay down credit card balances to below 30% of your limit
- Avoid new inquiries: Limit credit applications for the next 6-12 months
- Set up autopay: Ensure you never miss a payment deadline
- Keep old accounts open: Length of credit history helps your score; don’t close your oldest card
If Your Score Is Below 660
- Late payments: Even one missed payment can drop your score significantly
- High utilization: Using more than 50% of your available credit signals risk to lenders
- Collections accounts: Unpaid debts sent to collections damage your score for years
- Too many inquiries: Multiple credit applications in a short period lower your score
Consider a secured credit card to rebuild credit. These cards require a cash deposit as collateral but report to credit bureaus like regular cards. On-time payments can raise your score within 6-12 months.
Bottom Line
Accessing your free credit score in Canada has never been easier. Platforms like Borrowell, Credit Karma, and ClearScore provide weekly updates at no cost. Many banks now include free score access through their mobile apps, powered by Equifax or TransUnion.
Checking your own score is always a soft inquiry-it never hurts your credit rating. Regular monitoring helps you catch errors, track progress, and make informed decisions about credit applications. Use both an Equifax and TransUnion service to see your complete credit picture.
Take control of your financial health by checking your score monthly and reviewing your full credit report annually. Stay informed about the latest tools and offers by signing up for our newsletter.
free credit score canada – FAQ
What are the two credit bureaus in Canada?
Equifax Canada and TransUnion Canada are the two national credit bureaus that maintain credit files for Canadians. Both collect data from lenders and calculate credit scores, though the information they hold may differ slightly since not all creditors report to both bureaus.
Which free credit score service is best in Canada?
Borrowell provides free Equifax scores with weekly updates, while Credit Karma offers free TransUnion scores with the same frequency. Many Canadians use both services to monitor scores from both bureaus. ClearScore, Mogo, and bank-provided tools like TD CreditView and BMO Credit Coach are also reliable options.
How often can I check my credit score for free?
You can check your credit score as often as you like through free platforms-daily, weekly, or monthly. Services like Borrowell and Credit Karma update scores weekly. Checking your own score is classified as a soft inquiry and never affects your credit rating.
Does checking my credit score lower it?
No. Checking your own credit score through free platforms or bank apps is a soft inquiry that has zero impact on your credit. Only hard inquiries-when you apply for new credit like a loan or credit card-can temporarily lower your score by a few points.
Are there new free credit score options in 2026?
Equifax Canada launched its Global Consumer Credit File in late 2024, which helps newcomers from select countries use their foreign credit history. More banks are adding free score access through mobile banking apps, including TD’s CreditView Dashboard and BMO’s Credit Coach powered by TransUnion.
Where do free credit score services get their data?
Free credit score platforms pull data directly from Equifax or TransUnion. Borrowell and Mogo use Equifax data, while Credit Karma and ClearScore use TransUnion data. Bank-provided tools like TD CreditView and BMO Credit Coach partner with TransUnion, while the Interac verification service uses Equifax.
How do I get my full credit report for free?
Contact Equifax at 1-800-465-7166 or TransUnion at 1-800-663-9980 to request your free annual credit report by mail. You can also download request forms from their websites and submit them by mail or fax. The report includes detailed account history but not your credit score.
What credit score do I need for a mortgage in Canada?
Most lenders require a minimum credit score of 680 for mortgage approval. Scores above 725 typically qualify for the best interest rates. If your score is below 660, you may face higher rates or need a larger down payment. Rates and terms may vary by financial institution.
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