Scotiabank clients can check their credit scores using the bank’s website and mobile app.
Access to a free Scotiabank credit score means you can easily monitor your credit and see whether your efforts at credit building are working.
Scotiabank is not the only financial institution in Canada offering free credit score checks; others include RBC, CIBC, BMO, Borrowell, Credit Karma, and Mogo.
Scotiabank Free Credit Score Check
A credit score is a three-digit number from 300 to 900, representing your creditworthiness.
Lenders use your credit score and report to determine whether you are likely to pay back loans and not default.
Your Scotiabank credit score is obtained from TransUnion using a “soft inquiry” and does not impact your credit rating.
It is updated every 30 days.
If you want to access a free credit score update from TransUnion, you can use ClearScore. For weekly Equifax credit score updates, use Borrowell.
How To Check Your Credit Score on Scotiabank
If you have a Scotiabank personal banking account, you can view your credit score for free using the web or mobile app.
If using Scotiabank’s website, click on “see your credit score” from the menu listed on the right-hand side of your account dashboard.
If using the Scotiabank app, follow these steps:
- From the Home screen, click on “My updates”
- Click on “TransUnion Credit Score”
- Click on “Register” and accept the terms and conditions to view your credit score.
Scotiabank TransUnion Credit Report
Your credit report contains your credit history, accounts, limits, amounts owed, credit inquiries, collections, bankruptcy information, and more.
It is used to calculate your credit score. You can also view your credit report for free using Scotiabank.
From within your Scotiabank credit score page, click on “Credit score report” to view your credit report.
What if you can’t see your credit score and report on Scotiabank? You can call TransUnion directly at 1-844-580-9978 to find out.
Alternatively, you can also get your free credit report here and here.
Free Credit Score Checks in Canada
If you are not a Scotiabank client or want to see your Equifax credit score, you can use these platforms.
Borrowell
Borrowell has been offering free Equifax credit score checks since 2016.
It takes less than 3 minutes, and you do not need to provide your credit card information.
Borrowell also offers a free bill-tracking tool and a portal to compare rates for various financial products.
The Equifax score obtained via Borrowell is updated weekly and includes your credit score. Learn more in this review.
ClearScore
ClearScore recently launched its free credit score check service in Canada. It also operates in the United States, Australia, New Zealand, and South Africa.
The score you get on this platform is from TransUnion. After signing up, you also get access to your credit report and identity theft monitoring.
Learn more in this review.
Free Credit Report Checks in Canada
If you are not a Scotiabank client, you can easily get your credit report using Borrowell (Equifax) and ClearScore (TransUnion).
Alternatively, you can contact the credit bureaus directly to get your report:
Equifax: Apply online or call them at 1-800-465-7166.
TransUnion: Apply on their website or call 1-844-580-9978.
About Scotiabank
Scotiabank is the third largest bank in Canada by market capitalization.
It has over 10 million customers and 900 branches.
This bank offers a variety of chequing accounts, loans, credit cards, investments, insurance, savings accounts, and commercial banking products.
Scotiabank Credit Score FAQs
If your credit score is in the 700-900 range, there is a good chance you could qualify for a Scotiabank credit product.
When you apply for a Scotiabank credit card, they pull your Equifax credit report.
Yes, Scotiabank’s credit score is accurate and based on TransUnion’s scoring models. It may be different from your Equifax credit score.
No, checking your credit score on Scotiabank does not affect it as this is a “soft” inquiry.
You can increase your credit score by paying your bills on time, using less than 35% of your credit limit, keeping your old credit accounts open, and limiting your new credit applications.
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