I Just checked my credit score

[Mitsu3000gt]

My friend who works for a major bank told me that those free checks are estimates at best, and that's why they don't impact your credit score when you use them. A 'real' credit check is supposedly different.

[ThePenIsMightier]

This quote is hidden because you are ignoring this member. Show Quote

My friend who works for a major bank told me that those free checks are estimates at best, and that's why they don't impact your credit score when you use them. A 'real' credit check is supposedly different.

Yes. I think they call it a "hard check" and those cause a small dip in your rating.

[ercchry]

This quote is hidden because you are ignoring this member. Show Quote

Yes. I think they call it a "hard check" and those cause a small dip in your rating.

A hard check is when a 3rd party pulls, these actually show up on the report.

[Xtrema]

This quote is hidden because you are ignoring this member. Show Quote

840 on Credit Karma for about a year now.

Seems to be stuck there despite paying off my CC every month.

Meh, I think they treat everyone above 650 the same.

[ercchry]

This quote is hidden because you are ignoring this member. Show Quote

Meh, I think they treat everyone above 650 the same.

Perks for certain mortgage products go up to about 720 (equifax)

[MR2-3SGTE]

https://www.moneysense.ca/save/credi...obsession/amp/

A good read. Credit scores are not a measure of how well off you are financially. It just means you're good at borrowing money and paying interest. Paying off your CC balances in full will actually decrease your score as oppose to making mininum payments. I stopped caring about it long ago

[Mitsu3000gt]

This quote is hidden because you are ignoring this member. Show Quote

https://www.moneysense.ca/save/credi...obsession/amp/

A good read. Credit scores are not a measure of how well off you are financially. It just means you're good at borrowing money and paying interest. Paying off your CC balances in full will actually decrease your score as oppose to making mininum payments. I stopped caring about it long ago

I was told that paying off my CC in full helps. Anyone know for sure?

I've never paid CC interest in my life and I have an almost perfect credit score, but I don't know how much that contributes to it.

[D'z Nutz]

This quote is hidden because you are ignoring this member. Show Quote

https://www.moneysense.ca/save/credi...obsession/amp/

A good read. Credit scores are not a measure of how well off you are financially. It just means you're good at borrowing money and paying interest. Paying off your CC balances in full will actually decrease your score as oppose to making mininum payments. I stopped caring about it long ago

If that's what you got from that article, then it's bullshit and there's no point in even reading it. Except for a couple occasions when I missed the payment by a day or two, I've always paid off my credit cards in full with no interest in the last 20+ years and I've always had a great credit score.

[MR2-3SGTE]

You misunderstood, paying in full does not impact you negatively, but paying less than full and carrying a balance results in a higher score, assuming all other factors remain the same. This is what I've been told by various bankers. Keep in mind that there are tons of factors involved so its not as simple as "I pay in full and I have a higher score than someone who doesn't". The point is not to chase your score. Just do what you think is financially wise

[killramos]

Credit scores are bogus. Switched my mortgage this summer which resulting in “paying off” my mortgage, but new mortgage hasn’t hit the bureau yet (god knows why).

Result? My credit score dropped by 40 points lol.

Good thing to check to make sure someone hasn’t fucked your identity, but definitely not something worth losing sleep over.

[tonytiger55]

Credit score does not mean anything on its own. Its hufflepuffle.
Its one of four factors if you need credit.

[Twin_Cam_Turbo]

I’ve never checked mine before today but I just did and it showed 864. I’m pretty happy with that.

[max_boost]

I would be happy if it was 888 but seeing how the only thing I need to borrow is a $300 entry level car lease payment, I"m sure even a 588 score will suffice haha

[blairtruck]

I got a 900 on kredit karma also

[ee2k]

Did ya'll sign up for the $19.99 per month product to get your credit score from Equifax?

The free version you have to fill out a form and fax/mail it!

[Tik-Tok]

I signed up for one month free, and then canceled as soon as I got my credit score.

[ee2k]

Did it only give you credit score or also credit history including recent checks, outstanding debt etc.

[killramos]

RBC gives you a free report every month with a banking package.

[ee2k]

I'll answer my own question. I googled "free trial equifax canada" and it took me to a page on their site with an offer for no payment for 30 days and then 19.99 per month thereafter. Required credit card info that it didn't charge so all good.

It gave me a complete credit report including all accounts open and closed in last 6 years and all credit checks that have transpired during that time also. Records are accurate down to the month!

I had a bit of a scare today when dealing with my financial institution for their pull of the report from Equifax which was done last week, while redacted, showed numbers related to accounts that didn't match my knowledge of my finances: and I am pretty much on top of things. As it turns out, certain accounts types are reported differently, specifically charge cards that don't have a limit show the historical maximum balance you've ever had as the limit on the account.

At any rate, excellent score, everything is good, and I see that HBC cards, no matter how long you have had them for, don't automatically close - yay for maintaining a long credit history.

It's also worth noting that Equifax uses the most vague of terms to talk about your credit history/score/report/algorithms. The same voodoo applies to your score. Case in point, my score actually went up a few points since last week despite a hard credit check at my financial institution. Go figure.

It's unfortunate that they charge $19.99 for this service. I am not paranoid enough to maintain a subscription, but would totally do it for under $5/month.

[cam_wmh]

I use the free BorroWell and RBC credit checks. I use it mostly to check on identify theft.