How can I find out my credit rating for free?

Credit scores are a vital tool for Calgary residents, affecting their ability to rent a home, obtain loans on favorable terms, and even find employment. The Canadian system offers numerous opportunities to check your credit score for free, and understanding all the methods available will help you maintain control over your financial reputation at no additional cost.

Basics of the Canadian credit reporting system

There are two main credit bureaus in Canada that collect, store, and distribute information about credit use: Equifax Canada and TransUnion Canada. These private companies create credit reports based on information from banks, credit companies, and other financial institutions. It is important to understand that these bureaus may have slightly different information about you, as not all lenders report to both agencies.

Credit scores in Canada range from 300 to 900 points, with an average score of around 650. The higher your score, the better terms you can get from banks and other financial institutions.

Free ways to get your credit score and report

Directly from credit bureaus

Equifax Canada

Equifax provides the most comprehensive free access to credit information of any option available. You can access your credit report and score for free in several ways:

  • Online access: The fastest way is to create a myEquifax account on the official website. Once your identity is verified, you can download your credit report in PDF format and view your score monthly.
  • Phone access: Call 1-800-465-7166, select your language, say “disclosure,” or press 1.
  • Mail order: Download and complete the form from the Equifax website, attach copies of two forms of identification, and send it to the address provided.
  • In person: Physical offices:
  • Toronto, ON: 5700 Yonge Street, M2M 4K2, lobby, 8:30 a.m. to 4:30 p.m.
  • Halifax, NS: 1718 Argyle Street, Suite 720, B3J 3N6, 9:00 a.m.–4:30 p.m.
  • Charlottetown, PEI: 155 Belvedere Avenue, Suite 200, C1A 8B9, hours vary depending on the season

TransUnion Canada

TransUnion offers free access to your credit report (Consumer Disclosure), but credit scores are only available free of charge to Quebec residents. For everyone else, it costs $24.95/month.

  • Online access: Create an account on the TransUnion website to receive your Consumer Disclosure.
  • Phone access: 1-800-663-9980 with automated instructions.
  • Mail order: Fill out the Consumer Request form and include a copy of your ID.

Free apps and online services

Borrowell

  • Free weekly credit score and Equifax report updates
  • Personalized tips to improve your credit
  • Notifications of changes to your report
  • Recommendations from 75+ financial partners
  • Sign up without a credit card or SIN App available on iOS and Android.

Credit Karma Canada

  • Free TransUnion credit score and report
  • Tips to improve your credit
  • Financial product offers
  • Progress tracking tools
  • Notifications about changes

ClearScore

  • Free access to your TransUnion credit score and report forever
  • Personalized offers
  • Dark web monitoring
  • Simple interface

Banking services for customers

RBC Royal Bank

  • TransUnion CreditView Dashboard
  • Current TransUnion credit score
  • Credit score scenario simulator
  • Soft credit check with no impact on your score

TD Canada Trust

  • Access to credit score via online and mobile banking
  • Use of Equifax data

BMO Bank of Montreal

  • TransUnion CreditView Dashboard
  • View your score and personalized advice in the mobile app and online banking

Scotiabank

Scotiabank provides access to TransUnion credit scores through online banking and its mobile app.

CIBC

CIBC offers free access to TransUnion Credit View through its mobile app.

Specialized institutions for Ukrainian Canadians

Ukrainian Credit Union (UCU)

Ukrainian Credit Union is the largest Ukrainian credit union in Canada and offers specialized services for Ukrainian Canadians. UCU has over 16 branches across Canada and provides:

UCU services:

  • Ukrainian-language banking services
  • Special “Welcome Ukraine” package for newcomers
  • Financial seminars in Ukrainian
  • Access to credit reports through partner programs

UCU has mobile banking with a Ukrainian interface and actively supports the Ukrainian community in Canada through cultural and educational initiatives.

Ukrainian Federal Credit Union

Ukrainian Federal Credit Union in the US offers quarterly FICO credit scores for credit card holders. Although it is an American institution, it may be useful for Ukrainians who have ties to the US.

Difference between a credit report and a credit score

A credit report is a detailed record of your credit activity over the past 6 years. It includes:

  • Information about loans and credit cards
  • Payment history
  • Credit utilization
  • Recent credit inquiries
  • R-scores for each account (R1 = on time, R9 = delinquent)

Credit score — a three-digit number between 300 and 900 calculated based on information from your credit report that shows your creditworthiness:

  • Below 650: may make it difficult to obtain new credit
  • Above 650: demonstrates financial reliability

Factors that influence your score: payment history, debt, recent credit inquiries.

Monitoring via mobile apps

KOHO

KOHO offers access to your Equifax credit report through its Essential, Extra, and Everything plans. It has a 30-day free trial period for credit monitoring.

Additional features:

  • Integration with budgeting tools
  • Cashback rewards
  • Spending analytics
  • Rent reporting for credit building

App-specific features

  • Borrowell: Free weekly updates
  • Credit Karma: financial product offers, approval probability before applying
  • ClearScore: ease of use and fraud protection

Security when obtaining credit reports

Protect your personal information:

  • Check that the website is secure (https)
  • Read the terms of use and privacy policy
  • Find out if your data is shared with third parties
  • Avoid fraudulent “free” offers

Fraudulent schemes:

  • Equifax does not call consumers without warning
  • Do not send documents by email in response to unexpected requests

Frequency of credit score checks

Recommendations:

  • Check your report at least once a year
  • Borrowell — weekly
  • Banking services — monthly
  • Data comparison — quarterly

Important periods:

  • Before a mortgage or large loan
  • After moving or changing jobs
  • If you suspect fraud
  • Before renting a home

Specifics for Calgary residents

Local financial institutions:

  • All major Canadian banks
  • ATB — provincial institution with programs for Alberta residents

Credit bureaus in Alberta:

  • Services available online, by phone, or by mail

Regulation:

  • Corporate Registry System (CORES) regulates financial institutions

Resolving credit report issues

Correcting errors:

  • Equifax: online or by mail, 15–25 days
  • TransUnion: online or by mail, up to 30 days

Consumer rights:

  • Free annual check
  • Correction of errors
  • Addition of explanations
  • Protection against discrimination

Comparison of paid and free services

Free:

  • Access to score and report
  • Basic monitoring
  • Educational materials
  • Personalized advice

Paid:

  • Dark web monitoring
  • Identity theft insurance
  • Fraud assistance
  • Daily alerts

Practical tips for Calgary residents

Monitoring system:

  • Borrowell for Equifax (weekly)
  • Credit Karma for TransUnion
  • Banking services for verification
  • Calendar reminders

Before getting a mortgage:

  • Check 3–6 months in advance
  • Correct errors
  • Use credit <30%
  • Avoid new applications

Technological innovations and the future

Open Banking: more control over financial data, new services

AI and machine learning: personalized advice (Borrowell is already implementing this)

Access to free credit scores in Calgary has become much easier thanks to digital technology and competition between services. Regular monitoring and active management of your credit profile are key to financial success for city residents.