Kanetix.ca Launches Free Online Credit Score Calculator

TORONTO, June 11, 2012 /PRNewswire via COMTEX/ — Kanetix.ca today announced the launch of their free online credit score calculator that offers Canadians a free approximation of their current credit score rating.

The Kanetix.ca Free Credit Score service features a simple-to-use, one-step credit score calculator aimed to help shoppers estimate their current credit score. Knowing one’s credit score is a necessity when applying for a mortgage, credit card, loan or other financial product.

Once the shopper obtains their free estimate, they also have the option to review a detailed analysis that explains what factors were used in the calculation, as well as how the individual fared in each of the categories, based on the information they entered. Additionally, the Kanetix.ca Free Credit Score service offers informational guides helping consumers understand what is on their credit report, and what impacts both their credit history and credit score:

Credit History: Credit history represents a person’s financial reputation, and is used by lenders in risk determination. With this guide, consumers can discover why it’s important and how to maintain and improve their credit history.

Credit Report: A credit report is a detailed report of an individual’s credit history. Here, consumers can learn what’s included in their report and how to access it.

Credit Score: A person’s credit score represents their creditworthiness in the eyes of a lender. This is often referred to as a credit rating in Canada. This guide details the factors that may influence a person’s credit score. With the Free Credit Score addition to Kanetix.ca, the company now offers customers more opportunities than ever to understand where their money is going — and where to save it.

About Kanetix

Launched in October 1999, Kanetix was Canada’s first online insurance marketplace and today provides over a million quotes per year to consumers looking for insurance, as well as comparisons for mortgage rates and credit cards.

The Kanetix comparison service is a one-stop shopping environment for consumers. Each day, thousands visit the Kanetix website at http://www.kanetix.ca to comparison shop their various financial needs. Shoppers choose what they want to compare, obtain a quotation and complete an online application or, with the help of Kanetix, connect with the provider to purchase or apply for the product over the phone. Through its Software as a Service team, Kanetix is also the leading provider of online insurance quotation technology, developing online quotation systems, mobile solutions, actuarial tools and websites for many of Canada’s largest insurance brands.

For more information, visit http://www.kanetix.ca , or contact:

Braden RosnerKanetix Ltd.braden_rosner@kanetix.com | 416 599 9779 x343

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SOURCE Kanetix Ltd.