Credit scores & reports
How credit scores work in Canada
What a Canadian credit score is, who calculates it, what the 300 to 900 range means and the everyday habits that shape it, in plain language.
Credit monitoring · Planned benefit
Credit monitoring, included for eligible customers
We plan to include credit monitoring at no extra cost for customers with an eligible active secured card or Credit Builder Loan, so you can see your progress without paying for a separate subscription.
Not available yet. We haven’t selected a credit data provider. Which products qualify, how often scores update, coverage by province and what happens when a product closes are all still to be confirmed.
What you’d see
Your progress, with the context to understand it
Numbers without context can cause more worry than they solve. Every view is designed to explain what changed and why it matters.
- Planned
Your score, with its source
Always labelled with the credit bureau or provider, the scoring model and when it was last updated.
- Planned
Trends over time
See how your score has moved, alongside the events in your credit file that may explain it.
- Planned
Alerts you control
Get notified about important changes, such as a new account or inquiry, and choose how you hear about them.
- Planned
Factors, explained plainly
What’s helping, what’s holding your score back and practical steps, without promising any outcome.
- To be confirmed
Report details
More detail from your credit report, where our data licence and your consent allow it.
- Planned
Clearly labelled demo data
Before launch, any score shown in our apps is a demo score, clearly marked, and never presented as your real credit file.
Consent
You stay in control of your credit information
Credit monitoring only starts with your permission, and you can change your mind.
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We ask first
Before accessing your credit information, we’ll explain what we’ll retrieve, why and how often, and ask for your consent.
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Checking doesn’t hurt your score
According to the Financial Consumer Agency of Canada, checking your own credit report or score doesn’t lower it.
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You can stop at any time
Turn monitoring off or withdraw consent. Our privacy policy will explain how long history is kept and how to request deletion.
Eligibility
Who would qualify
Monitoring is planned as a benefit tied to having an eligible active Evolve Capital Credit product. We’re still deciding the details, and we’ll publish them before launch.
- Which products count. A secured card, a Credit Builder Loan, or either.
- Which account statuses count. For example, whether an account in arrears still qualifies.
- What happens when a product closes. Any grace period, and what happens to your score history.
- Coverage. Which provinces and territories, and which credit bureau or bureaus.
Key facts: credit monitoring
Nothing below is final. We will publish every item before applications open.
- Availability
- To be confirmed Not available yet.
- Cost to you
- To be confirmed Planned at no extra cost for customers with an eligible active product.
- Which products and account statuses qualify
- To be confirmed
- Credit data provider and score model
- To be confirmed
- How often your score updates
- To be confirmed
- What happens if your product closes
- To be confirmed
Will credit monitoring be free?
Our plan is to include credit monitoring at no extra cost for customers with an eligible active product. Exactly which products and account statuses qualify is still being decided.
Does checking my own credit score lower it?
No. According to the Financial Consumer Agency of Canada, checking your own credit report or score doesn't lower your credit score. Lenders' inquiries when you apply for credit are different and are recorded on your report.
Where will my credit score come from?
We'll always show which credit bureau or data provider supplied your score, which scoring model it uses and when it was last updated. We haven't selected a provider yet.
We'll ask for your consent before accessing your credit information.
Guides
Keep learning
Credit scores & reports
Credit utilization, explained
What credit utilization is, how to calculate it, why FCAC suggests staying under 30% and practical ways to keep your balance low on a small limit.
Starting & rebuilding
Building credit when you're new to Canada
Your credit history usually doesn't follow you to Canada. A practical, step-by-step plan for newcomers to start and grow a Canadian credit file.
Monitoring comes with building
Credit monitoring is planned for customers with an eligible active product. Start with the product that fits you best.