Author Topic: Credit Score Declining/ Weird Credit Card Issue Question (Canada)  (Read 777 times)

JAYSLOL

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Hello all.  For a little background, Iím 36, married, living in western Canada.  Until April of this year, Iíve never bothered checking my credit score, but found out I could check it without affecting the score through my online banking (Royal Bank of Canada).  In April, it was 804.  In June, 804. 

In August, it gets weird.  For a little more background, I have a job that 3 or 4 years ago provided me with a company credit card (a BMO MasterCard) for expenses.  I did not sign up for the card, the owner of the business signed up for it, and he/the accountant monitor it/pay it off.  I got a phone call in August from BMO MasterCard saying there was an amount owning for the month and how would I like to take care of it.  I told them thatís my bossís account, call him, and they said they canít because Iím the only one that appears on the account.  I told them thatís BS and I called my boss to get the account paid, which he did. 

I check my credit score right after  and itís now 774.  I donít know for sure if it was the result of that account mistake, but it seems likely because nothing else about my credit has changed. 

They havenít called me anymore, so I guess the company has been paying it off fine, but I went into an actual BMO branch to talk to someone about it, and they told me that my card isnít coming up in their system.  It doesnít exist.  Which is insane because I put $3-4k on it every month, and I know the accountant has been checking it and paying it.  Whatever. 

Today, I check the score again and itís now 750.  What the hell.  I donít know whatís causing this. 

So, whatís my next move?  Should I get a full credit report?  Should I go into BMO and raise hell?  Should I try to get this BMO MasterCard canceled and get my own card that I can be more responsible with and pay off myself? 

MudPuppy

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Re: Credit Score Declining/ Weird Credit Card Issue Question (Canada)
« Reply #1 on: October 11, 2021, 10:24:13 AM »
Definitely get a full credit report. It may not be this account thatís the problem.

yachi

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Re: Credit Score Declining/ Weird Credit Card Issue Question (Canada)
« Reply #2 on: October 11, 2021, 10:31:59 AM »
I use CreditKarma to keep an eye on things.  You can check it daily, and it looks like it's available in parts of Canada:
"In 2016, it expanded its operations to Canada and is available to residents of Alberta, Ontario, Manitoba, British Columbia, New Brunswick, PEI, Saskatchewan, Nova Scotia, and Newfoundland and Labrador."

You can see payment history and reported balances for cards in your name.  I had a company credit card once, but it was only in the companies name and never recorded on my credit report that I could see.  I would be pissed if they they had signed up for it in a way that laziness on their part would affect my credit rating.

RWD

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JAYSLOL

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Re: Credit Score Declining/ Weird Credit Card Issue Question (Canada)
« Reply #4 on: October 11, 2021, 10:53:53 AM »
Well, thatís three votes for the full credit report, so Iíll start with that and see what happens
Thanks!

JAYSLOL

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Re: Credit Score Declining/ Weird Credit Card Issue Question (Canada)
« Reply #5 on: November 03, 2021, 06:22:38 PM »
Well, full credit reports from Equifax and TransUnion are in, nothing wrong or unusual listed on them, so Iím at a loss why the score I got when checking through my bank declined by 50 points.  The bank used TransUnionís score, and the report I got from them didnít actually list a current credit score, but Iím assuming if it did it would be 754 like it said online.  Oddly, my score from Equifax was 846, Iím curious how or why there would be a 90 point difference between them.  Anyway, both are decent scores, so Iím not really worried, as my only real concern was if the company card was somehow affecting my credit. 

Visitation

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Re: Credit Score Declining/ Weird Credit Card Issue Question (Canada)
« Reply #6 on: November 03, 2021, 07:42:34 PM »
Is the company card listed as an account on your credit report?

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JAYSLOL

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Re: Credit Score Declining/ Weird Credit Card Issue Question (Canada)
« Reply #7 on: November 03, 2021, 08:12:41 PM »
Is the company card listed as an account on your credit report?

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No, itís not, which was the main thing I was worried about and wanted the report to make sure it wasnít

 

Wow, a phone plan for fifteen bucks!