BMO Introduces No-Fee Credit Monitoring Tool - BMO Credit Coach
The Bank of Montreal (BMO) Introduces BMO Credit Coach
BMO has launched BMO Credit Coach, a free credit monitoring and reporting tool to help clients understand, track, and improve their credit health without affecting their credit scores.
Built into BMO’s Mobile and Online Banking, the tool offers real-time alerts, personalized tips, and a credit score simulator that shows how actions like opening accounts, applying for loans, or making on-time payments could impact credit scores. Clients can also monitor credit use and other key factors for a clear view of their credit behavior.
BMO Credit Coach..
..is part of BMO’s growing suite of digital tools that support financial literacy, smarter decisions, and long-term financial health:
BMO My Financial Progress: A goal-based planning tool that helps users set, track, and adjust financial goals over time. It gives a full financial view and personalized strategies for growth - all within BMO’s digital channels.
BMO SmartProgress: A free learning platform with interactive lessons on budgeting, credit, homeownership, and investing, available anytime online.
BMO Insights: Provides over 25 AI-powered insights to track spending, savings, and account activity. Tools like CashTrack forecast potential shortfalls, while Spend Categorization flags unusual charges or subscriptions to support better money management.
BMO Savings Amplifier Account: A no-fee savings account with competitive rates and unlimited transfers between BMO accounts. The built-in Savings Goals feature helps users automate deposits and track progress.
BMO PaySmart: Lets clients turn eligible credit card purchases into equal monthly payments, supporting budgeting and repayment planning.
Why It Matters
The launch of BMO Credit Coach adds credit monitoring to BMO’s digital banking platform and reflects a wider trend in banking - offering personalized, data-driven tools that help people better understand and manage their finances in real time.
