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Finally, a way to see your credit score for free

… but only if you’re Canadian. And have a PC Financial Mastercard.

Maybe I’ve been out of the loop for a while, or maybe I didn’t research hard enough, but I just found out that through my PC Financial Mastercard, they are offering a 30-day trial called Credit Alert where I can view my credit score & report (and have my credit files monitored every business days at both Equifax and Trans Union). After the trial, it’s $14.99/month … so as long as I remember to cancel my subscription to it before the 30 days are up, it looks like I’d be good to go!

I know that some of my PF friends in the U.S. were talking about a 30-day trial membership to monitor their scores, so I’m really glad Canadians have the opportunity to do the same as well.

I think I’m going to try this out in the fall, because I just recently checked my credit score. And while I’m dying to know what it is now, I doubt it’s changed all that much in the course of 3 months. Plus, it’s not like I’m going to need to start really monitoring my credit score for at least another year. Just as long as I pay all my bills on time, and don’t open/close any accounts, my number should only go up from here.

I know this kinda sounds like a sponsored post, but it’s not. I just really really like PC Financial, and all of the services they have to offer. I always recommend that people switch from their banks over to PC for free unlimited transactions with their chequing accounts, free cheques, as well as a 4% interest rate on their Interest Plus savings account. I just wish their GIC rates were comparable to those of Outlook Financial … and I also wish they had a referral program like ING does, so I can make some $$ for all the free advertising I’m giving them … but no bank is perfect, I guess. :)

So what are you waiting for? Go switch!

Does a chequing account affect your credit score?

A recent reader made this comment:

ps said…
If you have already closed your TD chequing account, then well, end of story. If you haven’t, then don’t, if you possibly can. The reason is that since you have had the TD account for so long, it is reflected in your credit score. If you close down your older financial association, you might hurt your credit score or so I’ve heard. You can find a lot more info on bankrate.com

Is this true? I thought the only way a chequing account would impact my credit negatively is if I had a bunch of overdraft on the account, or if I had bounced a cheque … at least that’s what I’ve been reading after Googling the heck out of it before I came to post on my blog. But after reading the comment, now I’m scared that I’ve closed an account that I’ve had open for over 20 years. Because anyone can open a chequing account, right? My mom opened it for me when I was just a baby.

It’s not like I can do anything about it now since the account is definitely closed, but for future reference, I should probably know for certain what the answer is.

Day 2: NO SPENDING CHALLENGE

So, since I’ve decided to try and not spend money until the end of the month (except for necessities like groceries, gas, bills), I realize that this is going to be harder than I thought. I have three separate coffee dates with three of my very best friends coming up, so how can I avoid that? Maybe I’ll suggest getting the coffee “to go” so we can walk around the water, and just bring a water bottle instead. But that’ll only work if it’s nice out.

I also lent a co-worker $1 yesterday. Does that count as spending? I don’t expect to get the money back, and technically I didn’t spend it … but I’m $1 poorer as a result. I guess I should just pretend that it doesn’t count, otherwise my NO SPENDING CHALLENGE will have ended on the first day, and that’s just sad.

And speaking of spending, does everyone have to pay money to see their credit score? I paid back in March when I wanted to see mine, but I don’t want to be a chump and spend the money again if I can just see it for free somewhere, or even pay a certain amount and see all 3 … I think in the USA they have an option to monitor their credit score, but I have yet to see something like that for Canadians. I don’t mind paying money to see my credit score, but when I’m paying something like $15 for just a one-time score with one of the three companies, it seems like a raw deal.

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