TD Credit Score: How To Check Your Free Credit Score in Canada (2024)

FAQs

How do I check my TD Bank credit rating? ›

Using The TD Bank Mobile App to Check Your Credit Score

Open the TD Bank Mobile App and sign into your account. Go to your account dashboard, find the 'Services' tab, and then click on the 'Credit Score' function.

You may access your credit score online from Canada's 2 main credit bureaus. Your credit score from Equifax is accessible online for free and is updated monthly. If you live in Quebec, you may also access your credit score from TransUnion online for free. Access your Equifax credit score.

You're able to request a free copy of your credit report every 12 months from Equifax and Transunion with no impact on your credit score. You can order the report by phone, email and online. Try to pay your bills on time and in-full in order to maintain a good repayment history and improve your score.

Download the app for the full experience. The Interac® verification service app also helps you stay on top of your credit score with Equifax®. You can check your credit score range for free in a few easy steps. And your credit score will not be affected when checking it through Interac® verification service.

Ninety percent (90%) of top Canadian lenders and credit unions use FICO® Scores. Lenders provide consumers with regularly updated FICO® Scores and factors affecting the score via online banking websites, mobile applications and paper statements.

Good (670 to 739): Considered a solid credit range, Canadians in this category are likely to qualify for many loans and credit cards. Very Good (740 to 799): This range indicates a strong credit profile, and you'll be seen as low risk, resulting in better loan terms, lower interest rates and higher credit limits.

Every year, you're entitled to one free credit report from each of the main credit bureaus — Experian, Equifax and TransUnion. You can access these reports for free at annualcreditreport.com, which is authorized by federal law.

Is there a way to check your credit score without it going down? ›

Many credit card issuers and banks provide free credit scores to their customers. Personally checking your credit score won't affect it. Nor will checking your own credit report. However, when you apply for credit, the lender will make a so-called hard inquiry, which can lower your score a bit.

The average credit score in Canada is around 680, which is deemed as "good" on the credit score scale. Everyone's scores can range widely based on their age, income, and spending habits, so it's essential to note that this average doesn't necessarily apply to every person.

You can't arrive at precisely the same score as the credit-scoring companies or lenders because they use proprietary formulas to determine your score. However, you can calculate some of the factors that contribute to your score, such as your credit utilization ratio and the length of time you've had credit.

While credit scores in Canada range from 300 - 900, the average is around 650, according to TransUnion, though it varies from province to province. Once you've reached a credit score of 650 or higher, you'll be able to qualify for more financial products.

TD Bank typically pulls credit reports from Experian when evaluating credit card applications, but it could use any of the three major credit bureaus (TransUnion, Equifax, Experian).

A credit score is a prediction of your credit behavior, such as how likely you are to pay a loan back on time, based on information from your credit reports.

Every time you perform a financial transaction at TD Bank – from requesting an automobile loan to paying your credit card bill on time – we report that information to the credit bureaus. Over time, that information demonstrates your creditworthiness and determines whether you qualify for more credit.

Banks with an AAA rating are considered the lowest risk and highest quality, with AA clocking in slightly less. BBB and below represent a moderate risk, and so on.