BMO Launches Credit Coach to Help Canadians Take Charge of Their Credit Health

BMO Launches Credit Coach to Help Canadians Take Charge of Their Credit Health

• New feature guides clients to monitor, improve and maintain their credit history, without affecting their credit scores.

TORONTO, Nov. 4, 2025 /CNW/ - BMO today announced the introduction of BMO Credit Coach, a new no-fee credit monitoring and reporting tool to help BMO clients better understand, monitor and build their credit history without affecting their credit scores.

Available for all BMO personal banking clients using BMO's Mobile Banking app and Online Banking, BMO Credit Coach delivers a smart and intuitive way to help manage overall credit health with alerts, personalized guidance, and a dynamic credit score simulator. Clients can track credit utilization trends, learn about score factors, and explore how financial decisions such as taking out a car loan, opening a new credit card account, or consistently paying bills on time would affect their score.

"At BMO, we are committed to helping Canadians make real financial progress by giving them the tools and insights to take control of their financial future," said Mathew Mehrotra, Group Head, Canadian Personal and Business Banking, BMO. "BMO Credit Coach makes credit health more accessible and understandable, empowering our clients to make more informed financial decisions, build stronger credit profiles, and achieve their financial goals."

A credit score is based on several factors and reflects an individual's ability to pay loans, bills, and other commitments on time. It helps lenders understand how experienced an individual is with credit products and how well they manage them.

BMO Credit Coach joins BMO's suite of innovative digital tools and resources available to help clients build financial literacy, conveniently monitor their plans, and reach their financial goals:

• BMO My Financial Progress : Available through BMO's Mobile Banking app and Online Banking, this innovative, digital goal planning platform helps clients create personalized and adaptive long-term plans, gain comprehensive insights into their finances, and access personalized strategies to help them reach their goals.
• BMO SmartProgress : This tool helps clients learn more about important personal finance topics and build financial literacy anywhere and at any time. It is a free, online financial education platform featuring customized, interactive content – including videos and tools – on complex financial planning topics including budgeting and credit management, homeownership, and investing.
• BMO Insights : Clients get help saving more, monitoring spending and account values, and spotting unusual activity with 25 BMO Insights that provide customers free, quick, and personalized views of their daily spending to help them make informed decisions. Popular online insights include:
  • CashTrack: Using artificial intelligence, these insights monitor clients' cash flows and let them know if they will run out of money in the next seven days.
  • Spend Categorization: These insights notify clients when there has been a significant increase in a specific spending category or if a free trial has expired.
• BMO Savings Amplifier Account : To help make saving easy and automatic, BMO's Savings Amplifier Account offers no monthly fees, a competitive interest rate, and unlimited no-fee transfers to other BMO accounts. In addition, its digital Savings Goals feature enables clients to set, track, and manage their financial goals.
• BMO PaySmart : This is a flexible tool that helps clients turn credit card purchases into equal monthly payments, enhancing their ability to manage cash flow and gain better understanding of their spending. Since its launch, PaySmart has empowered clients with clear insights into their spending habits and progress to achieve their goals.

For more information about BMO Credit Coach, visit www.bmo.com/creditcoach.

To learn more about how BMO can help clients make financial progress, visit www.bmo.com/main/personal.

About BMO Financial Group

BMO Financial Group is the seventh largest bank in North America by assets, with total assets of $1.4 trillion as of July 31, 2025. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society.

SOURCE BMO Financial Group