How To Use ClearScore Canada For a Free Credit Score

ClearScore is a British credit monitoring service that expanded into Canada in 2022. Similar to Borrowell, the company offers credit score monitoring and reports. We’ll show you how to access the free features, explain its other credit products, and see how ClearScore stacks up to the competition.

What is ClearScore Canada?

ClearScore Canada is a free service that allows you to check your credit score and see the factors that make up your credit profile. The company also offers credit monitoring services in the U.K., where it originated, as well as South Africa, Australia, and New Zealand.

ClearScore works with TransUnion, one of the two credit monitoring bureaus in Canada. If you prefer to see your Equifax credit score, you’ll need to get it from Equifax directly or use a service like Borrowell.

How to check your credit score with ClearScore

It only takes a moment to create a ClearScore account – just head to the signup page and enter your email address. Be sure to confirm that you’re signing up for ClearScore Canada, not another country.

• Fill out your first and last name
• Create a password
• Provide your birth date and address
• Consent to ClearScore pulling your TransUnion credit score
• Answer a few questions to verify your identity

Once you’re all set up and logged in, you’ll see your credit score. Click below the score to find out what factors went into your score.

You’ll also see personalized offers, an overview of your credit health, and informative videos about improving your finances. More on all of these in a moment.

The great thing about ClearScore is that the site simplifies the information – it’s easy to quickly see your score and understand it. This can make it easier for people with limited financial experience to find the information they need.

ClearScore vs. the alternatives

ClearScore isn’t the only company providing free credit scores and monitoring. Take a look at how the company compares to its competitors.

What else does ClearScore Canada offer?

In the past few years, ClearScore has added features to help Canadians protect their finances and their online identities from fraud.

ClearScore Credit Health

One of ClearScore’s overarching goals is to help people improve their personal finances and credit scores. When you select the "Credit Health" tab, you’ll instantly see how you look to lenders in terms of your:

• Disposable income
• Debt-to-income ratio
• Income before taxes
• Debt and expenses per month

You’ll also be able to see a history of credit reporting changes and dark web alerts.

Paying attention to your spending and saving habits can help you make smarter financial decisions over the long run.

ClearScore Offers

Like Credit Karma Canada, Clearscore also has an affiliate program and uses the data you submit to recommend financial products to you. For every product you claim through their affiliate program, they'll get paid a commission. That's how Clearscore can afford to let you check your credit score for free.

ClearScore Protect

This additional feature of ClearScore activates when you verify your email address. Don’t worry, it’s also free and can protect you from phishing and fraud.

ClearScore Protect monitors your credit report for changes every week and checks your accounts on the dark web once a month. You’ll get alerts if your data is compromised. You’ll also get a security score out of 1,000, which helps you see how well you’re protecting yourself digitally at a glance.

If you’d like to upgrade to Protect Plus, here’s what you’ll get (in addition to weekly credit report monitoring):

• Daily dark web monitoring
• 24/7 identity theft and fraud helpline
• Up to $1 million USD in identity theft insurance
• Up to $25 million USD in ransomware coverage

Protect Plus costs $14.99 a month or $119.99 per year. You’ll get the first month free, which is a good chance to see for yourself whether the upgrade is worth it.

ClearScore Canada reviews: What do Redditors think?

If you’re still up in the air about signing up for ClearScore, reading reviews from real users can help you come to a decision.

In general, Redditors prefer to go straight to the source and get their free credit scores from Equifax and/or TransUnion. This mitigates the targeted ads and data collection that results from using third parties.

FAQ

Is ClearScore safe to use?

Yes, ClearScore is safe to use. It uses 256-bit encryption (higher than most Canadian banks) and requires two-step authentication to protect user information. The company is also regulated by the U.K. financial watchdog, the Financial Conduct Authority (FCA). ClearScore earned 4.4 out of 5 stars on TrustPilot.

What’s a good credit score in Canada?

Most credit card issuers consider a score between 660 and 724 to be good. If your score falls in this range, you have a better chance of receiving favourable terms when taking out loans or getting credit cards.

Is ClearScore linked to Equifax?

No, ClearScore Canada is not linked to Equifax. While ClearScore U.K. pulls credit scores from Equifax, ClearScore Canada uses credit information from TransUnion to provide your credit score.

Is ClearScore really free?

Yes, ClearScore promises to provide credit score reports and protect consumer accounts for free forever. That said, they offer paid upgrades for other financial and credit services.