Score-Up Review 2020

Highlights

– Score-Up lets you find out your credit score, understand what is impacting it, and improve it by following specific recommendations

– Very robust recommendations system that predicts credit score improvements

– Proprietary technology called Point Deduction Technology, based on thousands of analyzes credit profiles

– Has monthly fee with 3 subscription tiers

– 12 month subscription minimum, can cancel within 30 days

– Powerful way to gain control of your credit profile and improve your credit score

Availability

Canada-wide

Cost

3 monthly package tiers ranging from $49.99 per month to $99.99 per month. Using Score-Up involves a 12 month subscription loan.

Ratings

Video Review

Please take a look at our video review of Score-Up to gain a full understanding of what the platform is all about, the key benefits, who should use it, how much it costs, and more.

Introduction:

At some point in time everybody needs access to credit. If you want to do things like have a credit card, rent an apartment, buy a car or a house you need access to credit. Your ability to access credit and even the interest rates that you’re going to be eligible for largely depends on something called a credit score.

A credit score is a simple number somewhere between 300 to 900 but how it’s calculated is actually pretty complicated. Staying on top of your credit score is one of the most important things you can do for your overall financial health and that’s why we are  going to review a new platform called Score-Up that allows you to not only find out what your credit score is but also what you can do to improve and maintain it.

What is Score-Up

Score-Up is an online subscription based platform that allows you to do three main things:

1) It lets you know what your credit score is because it is connected to two primary credit reporting bureaus in Canada Equifax and TransUnion;

2) It lets you know why your credit score is the way that it is and what is impacting it right now;

3) It tells you very specifically what you can do to improve your credit score.

Precise Recommendations

There’s something very important to note about the recommendations that score up provides for credit score improvement because it’s easy to find general best practices about what to do for your credit score. Things like you should use credit cards and you should pay your bills on time for example. Those basics are absolutely true and that advice is technically accurate but it’s also very vague and oftentimes is just not enough to make a significant difference for somebody who is looking to improve their credit score.

This is where Score-Up really shines because it offers you very specific actions to take to improve your credit score and not only that but it actually tells you how much of an improvement, how many points you can increase your credit score by if you execute these particular actions.

For example Score-Up may tell you that paying down $16 towards your TD Visa credit card will increase your credit score by ten points or that paying $13 towards a Home Depot card will give you an additional six points.

This is a very different level of detail in terms of giving you actionable things to do as opposed to just saying ‘make sure you’re paying down your credit cards’.

How Does it Work?

I was very curious to find out how is Score-Up actually able to do this? How do they know how any particular action impacts any particular credit profile and their credit score.

So I got on the phone call with the Score-Up team and I asked them this question, and what they’ve explained to me is that they’ve been able to analyze thousands and thousands of credit profiles and they looked at how different actions are impacting these individual credit profiles and what kind of movements in credit score points are happening, and as a result what they were able to do is develop some proprietary technology which they call Point Deduction Technology and that technology is what makes this whole platform possible.

When you have such powerful technology in the backbone of a platform and it’s combined with all the other tools that have been packed into it, it really gives people a very unique and different way to gain control of their financial profile and their credit rating.

Simulators

Score-Up takes credit score management to a whole other level by introducing different types of simulators. For example they have something called a Money Simulator and what that allows you to do is enter a budget of let’s say $40 or $50 and what Score-Up will do is quickly calculate based on your specific credit profile how you can apply this $40 or $50 to maximize the improvement in your credit score.

They also have a Target Score Simulator and that one works very similarly where you enter your desired target credit score and Score-Up will effectively tell you what it will take to get there.

They also have a very interesting Manual Simulator and that one works almost like a game where Score-Up presents you with your entire credit profile, everything that you have inside of it, and you’re able to just play around and try out different scenarios and see how they would impact your final credit score.

How Much Does it Cost?

Score-Up is a subscription-based online software and the monthly packages range from $49.99 to $99.99. The main difference between the three packages is that the middle package, boost plus, comes with a quarterly progress review with an expert credit coach, and the boost premium, the most expensive package, comes with a monthly credit review and also budget planning with an expert credit coach.

Using Score-Up also involves a subscription loan which in itself is able to help you improve your credit score.

It’s important to note that you are required to sign up to a 12-month subscription in order to use Score-Up and that is because this tool is intended to be used over a longer period of time in order for you to notice a real improvement on your credit score. However you are able to cancel within 30 days of your subscription if you are unhappy with the service.

Final Verdict

All in all Score-Up allows you to gain control over your credit rating and improve it in a way that hasn’t been done before and while it comes with a monthly fee it also offers access to information and tools that simply aren’t available anywhere for free.

One thing to consider before you start using Score-Up is that it is intended to be used over a longer period of time. That means that you need to be willing to follow the recommendations that this platform offers if you want to notice an actual increase in your credit score. If you don’t have the desire or the discipline to follow these recommendations then Score-Up is probably not for you because you will just be left with a monthly fee to pay and very little or no improvement in your credit score.

Most importantly, a healthy credit score and a credit rating opens up opportunities and allows us to live our lives to the fullest and for people that could use help improving their credit score Score-Up should definitely be considered because if they’re able to follow the recommendations that this platform offers on a month-to-month basis they will be able to improve their credit score and that means that it will be a very worthwhile investment.