The National Bank of Canada (NBC) is based in Montreal. There are branches in most Canadian provinces. They offer services for Canadians including bank accounts, credit cards, saving plans, insurance, and mortgage loans. NBC currently doesn’t offer a free credit score for those who bank with them. They never have, but they do have valuable information on how you can get it.
Does the National Bank of Canada offer a free credit score?
NBC doesn’t offer you a free credit score on their site. They do offer an informative page to let you know how you can get your free credit score. There is plenty of information that helps you understand what your free credit score is. They explain what determines your credit score and they breaking down all the factors.
On their credit score page, NBC has a link to a Canadian government page with further information on how to order your credit score. Here, you’re going to find links to Equifax and Transunion, the two main credit bureaus for Canadians. You can use one or both of the credit bureaus because checking your credit score is considered a soft credit check. That means that it will not negatively impact your score.
On your own, you can get your free credit score directly through Equifax. Transunion has a $19.95 monthly fee for all their services. Quebec residents have the right to check their credit score and score factors for free on their consumer disclosure. However, if you sign up for Credit Karma, you can access your Transunion credit score for free.
Canadian banks that offer a free credit score
There are some Canadian banks that do give you a free credit score if you bank with them. They have varying programs and offers. For example, Bank of Montreal (BMO) not only gives you a free credit score, they have other tools and resources. You can use the score simulator to see how your credit would improve if you paid off a credit card. Their service is called CreditView and it’s quite robust.
Scotiabank offers a regular update of your credit score. CIBC has your credit score ready and waiting. You just have to click on Free Credit Score in your account section. Their credit score services include education that can help you keep track of spending and improve your credit score.
How to get your free credit score through Equifax, Borrowell, and Credit Karma
True, there are two credit bureaus in Canada. However, Fintech companies like Borrowell and Credit Karma also offer free credit scores. Let's look at how to sign up to Equifax and to Borrowell.
Signing up to Equifax is a simple three-step process.
- Sign up for My Equifax
- Fill in the form
- Create your account
It’s that easy. Once you’ve completed the process, you’ll have an account where you can view your credit score. It’s updated monthly and you’ll have access to factors that are impacting your credit score. You can view the summary of your information on the Equifax credit file as well.
Borrowell makes signing up easy, just not three-steps easy. However, it does seem in line with other websites that handle sensitive information.
- Sign up for Borrowell
- Fill in the form that pops up
- Create Account Login
- Click Get Started
- Fill out additional information
- Click Consent
- Verify your ID
Once verified, your free credit score is made available
How to get your free credit score through Credit Karma
As Transunion will charge you for their credit score, you might want to get your free credit score with Credit Karma. It’s free and easy to sign up for as a Canadian. To get your free Transunion credit score through Credit Karma, here are the steps:
- Sign up at Credit Karma
- Fill in the form
- Click Next Step and fill in the second form
- Verify ID based on questions they ask
Once verified, you can access your credit score and other insights. The tools offered can help you maintain a good credit score. You’re also offered credit products that you have a good chance of being approved for based on your score.
- Monitor and track your credit score for free
- Learn about credit easily on the blog
- Get access to the credit builder*