Borrowell Review 2022: How Safe Is Free Credit

How Safe Is Free Credit

In the past couple of years, it has came to be much easier, less complicated as well as cheaper for Canadians to promptly and securely obtain their totally free credit score as well as credit score record instantaneously online.

Before 2016, the best way for Canadians to get their credit report and credit report online was to get a totally free trial of Equifax’s costs services, or to register for Transunion’s comparable offering.

The good news is, late in 2016 a leading online loan supplier, Borrowell, partnered with Equifax to use complimentary credit history reports and ratings to all Canadian customers. This drastically shifted the industry landscape overnight.

Sign up with over 2 million various other Canadians and quickly get your free credit history as well as totally free credit rating report now Free Credit Score and Credit Report From Borrowell

Who is Borrowell?

Borrowell is a Toronto based fintech firm with the goal of making financial prosperity feasible for all Canadians. They give access to online credit score education and learning, ingenious credit rating tools.

They were the first firm in Canada to bring free credit records and scores from Equifax to the on-line masses.

They likewise pioneered the concept of an AI powered credit score coach with their Molly debt instructor offering. Molly makes individualized suggestions regarding exactly how to enhance credit history, and also what credit report items would be finest suited per client based on their certain credit history report elements.

In July of 2022 they released Borrowell Rent Advantage which is the first item to allow Canadians to develop their credit rating simply by paying their rent monthly on schedule. As of press time, this solution is only being used to select Borrowell consumers at a membership rate of $5 per month.

What Does Borrowell Offer?

Free Credit History Record and also Score:

Borrowell has actually assisted greater than 2 million Canadians by giving them with the devices they require to better comprehend, master and manage their credit report. Benefiting from this offer takes less than 3 mins, and does not have any kind of adverse impact on your score (referred to as a soft credit report questions).

Credit History Builder

A newer offering just available to pick Borrowell customers, this item is a debt structure cost savings car loan that sets you back $10/monthly, possibly enhances your credit score, as well as gives you back $240 in savings at the end of the term.

Credit Card Comparisons

Borrowell has actually partnered with many leading financial institutions such as BMO as well as Scotiabank to offer a variety of credit card alternatives for Canadian customers with all different types of credit history profiles. Their AI powered credit scores coach Molly aids in this process.

Individual Finances

After obtaining your Equifax Credit score Record as well as Score, Borrowell displays a variety of vetted instalment financing provides from their banks companions, tailored to your credit report. Although Borrowell does not provide lendings directly, they do provide a convenient way to swiftly compare financings from trusted companions.

Home Loans

Similar to their personalized AI-powered bank card and also lending referrals, they likewise permit Canadians in the marketplace for a home mortgage a quick means to compare rates, as well as have a much better opportunity of obtaining the very best deal as well as price possible.


Compare banking services in a convenient means with Borrowell’s bank comparison tool that helps find and recommend the right financial products for you


Canadians can compare insurance coverage products online with Borrowell along with learning about and also taking control of their credit rating.

Rent Advantage

Announced in July 2022, Borrowell Rent Advatage allows Canadians to build credit history with their rent for just $5/month. As this item was simply revealed, more information make sure to follow as it turns out to all Canadians.

To conclude, by supplying such a vast array of financial tools and also suggestions, Borrowell looks for to be the one stop shop that Canadians think about initially when it comes to any kind of facet of the personal finances.

Borrowell Firm Details

Borrowell Firm Summary

Banks in Toronto, Ontario

Borrowell Defines itself as adheres to: Borrowell is a proudly Canadian firm with a solitary goal in mind: to aid individuals make terrific decisions regarding credit rating. This is why we were the initial in Canada to offer free credit scores as well as reports from our partner, Equifax, Canada’s biggest credit report bureau.

Borrowell Address

1 University Ave, Toronto, ON M5J 2P1
( Wheelchair Accessible).

Borrowell Products

Free Credit Score.
Free Credit Report Record.
Credit score Train.
Credit rating Builder.
Rent Advantage.

Borrowell Google Review Summary

Borrowell has 4.5 celebrities on Google Reviews compiled from over 700 reviews.

Borrowell Current Procurements

2021 – Refresh Financial.

Borrowell Management Team/ Trick People

Andrew Graham – Co-Founder & CHIEF EXECUTIVE OFFICER.
Eva Wong – Founder & COO.
Lisa Brown – VP, Individuals & Culture.
Jeff Yim – CFO, Financing.
Simon Wyse – VP, Profits.
Wilson Pappo – VP, Item.
Amruta Karmarkar – VP, Design.