CIBC recently announced that it is teaming up with Borrowell and Equifax Canada to offer free credit scores through its mobile app. Specifically designed to appeal to millennials, the service makes it easier than ever for users to keep an eye on their credit score.
Available through the current CIBC app, the new service allows users to access their Equifax credit score for free. The score is updated quarterly, allowing users to easily track their financial standing over time. Clients will also have the ability to access important information about factors that can impact their credit score and advice on how they can improve it over time.
For young people who are preparing to make major financial decisions such as buying a car or their first home, the new tool makes it easier for consumers to access and understand their credit score.