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7 Credit Monitoring Apps to Help You Stay on Top of Your Credit Score

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7 Credit Monitoring Apps to Help You Stay on Top of Your Credit Score

We live in a time when we seem to have an app available for pretty much everything. So why not take advantage of technology to monitor your credit score?

Your credit rating can be crucial in certain situations, so having a good credit score is essential, especially when you want to take a loan. But it's not always as easy as it sounds. Keeping track of your credit requires much attention, and when you have a busy schedule and a lot on your mind, you can lose sight of important aspects.

The truth is that if you choose the right app, it can help you keep track of your credit trustworthiness and improve it. It will be easier with such a simple method than ever to organize your finances and get back on track. So, if you need an online loan or a credit card at some point, you will have no impediments.

These are 7 of the best apps to monitor your credit score

#1 - Mint Money Manager

Mint Money Manager is one of the apps that can help you manage your finances better, and the good news is it's entirely free. It keeps a close eye on your credit score and provides a report containing ways to improve it. Based on Equifax's credit model, creates charts and other visual aids to help you see the improvements you can make.

Mint will closely monitor your bank and credit accounts, but also your investments, so that it can offer you a broad perspective over your financial situation. Not only is it a free tool, but the usage is also unlimited. You can download it either from the Equifax website or from your app store.

#2 – TransUnion

The TransUnion app was developed by one of the main credit reporting bureaus in Canada, and it's an excellent tool for checking your credit score history. Once you install it on your device and create an account, you will update your credit score and daily reports. On top of that, the app will instantly notify you when a significant change occurs.

Apart from closely monitoring your finances, it also has another cool feature called Credit Lock Plus. You can use it to lock your credit report to make sure you won't face any fraud or identity theft problems. You will also be able to check what are the available public records connected to your name.

It's important to keep in mind that TransUnion credit scores go from 300 to 850, but they aren't precisely the same as the FICO scores. Overall, it's a handy tool, and you can use it both on Android and Apple devices.

#3 - Credit Karma

This is another free app you can try, and you will find it's also very user-friendly, from signing up to long-term usage. Credit Karma will monitor all aspects connected to your credit, and the information is updated weekly. It will show you both your current credit score and the elements that explain its level.

The report card will help you see your spending patterns and their consequences on your financial situation. You will get both alarms and recommendations, as well as a detailed analysis of how you can improve your finances.

#4 - Borrowell

Borrowell is another new credit monitoring app to hit app stores. Join millions of other Canadians who access their credit information for free. After downloading the app, your score is refreshed each week for free while tracking weekly progress.

Meet Molly, Borrowell's, and Canada's first AI-driven credit coach. Along with explaining your credit score, she can also give great tips on other credit products like credit cards and mortgages. Welcome to the future of credit monitoring!

#5 - Credit.com

Credit.com is another free and user-friendly app that offers you visual elements to help you understand and raise your credit score. Once you create an account, it will evaluate you based on a rating that goes from A+ to F; that way, you will know exactly where you stand.

You don't need any paid subscription to access all the features of this app, and you can use it both on Apple and Android devices. You will be able to analyze your credit score by comparing it to others. Once it establishes your spending patterns, the app will also give you tips on saving money and improving your score.

Credit.com will point out the mistakes you have made and offer solutions for fixing them. It also considers many factors when calculating your score to get an in-depth insight into your finances.

Indeed, in some cases, you can borrow money without having to worry about the credit check. Personal loans that don't rely on your credit score exist, and they can get you out of financial trouble when necessary.

Even so, closely managing your finances and keeping your credit report at a decent level remains essential. You may need to prove you are a calculated and trustworthy person for other reasons than just to get a loan. That's when such an app comes in handy.

#6 - CreditWise

Capital One has developed this application, and you can use it free of charge; you don't even have to be a Capital One member. All you have to do is create a username and password to sign up and access the credit score tracking features. In case you already are a member, you can use that login information for the app.

CreditWise is based on your credit score, and you will get weekly updates. Not only does it monitor your credit, but through the Credit Simulator, it also helps you to weigh your options carefully before taking the next step. You can run simulations and see how the decision you plan to make would affect your credit.

#7 - Credit Sesame

Credit Sesame is a free credit monitoring app that can track your score even without knowing your credit card information. It provides you with a report that includes suggestions on how to improve your credit. You will get a clear picture of the amounts you owe and how much interest you are paying.

Among the features you can benefit from are an ID protection program, financial awareness programs, and refinancing suggestions through the Lending Club. That way, you can prioritize the debts that come with the highest interest and handle those first. Indeed, this last part is connected to a third-party app, but the basic features are available for free.

Why Is Credit Monitoring Important?

Besides keeping track of the changes that occur to your credit score, monitoring your finances with an app can bring additional advantages. It can help you detect attempts of identity theft as soon as they happen and even avoid them. On top of that, these apps will notify you of any unauthorized hard inquiries made on your credit report.

All in all, keeping a close eye on your credit score and finding updated ways of improving it can be extremely beneficial. An attractive credit report will also help people borrow money from a trusted Canadian lender. It also shows you are a reliable person if you're going to rent an apartment, for instance. Any time you need to prove you are doing a good job paying your debt on time, you will have that three-digit number to use as proof.

However, despite close monitoring and your best efforts to bring it back to a good level, your credit score can sometimes stay lower than you want. What matters is not to let it overwhelm you. Just do your best to realistically assess your situation and try to take efficient measures to get back on track. If an app can help you do that, why not take advantage of it?