Borrowell Review 2022: Is Free Credit Report Really Free

Is Free Credit Report Really Free

In the past couple of years, it has ended up being much less complex, much easier and also cheaper for Canadians to swiftly as well as securely obtain their totally free credit score and credit scores record instantaneously online.

Before 2016, the best method for Canadians to obtain their credit report and also credit history online was to get a complimentary test of Equifax’s costs solutions, or to subscribe to Transunion’s similar offering.

Fortunately, late in 2016 a leading on-line funding service provider, Borrowell, partnered with Equifax to supply complimentary credit scores records and ratings to all Canadian customers. This substantially shifted the market landscape overnight.

Sign up with over 2 million other Canadians and promptly get your totally free credit score as well as totally free credit history record now Free Credit Score and Credit Report From Borrowell

Who is Borrowell?

Borrowell is a Toronto based fintech business with the objective of making financial prosperity feasible for all Canadians. They provide accessibility to on-line debt education and learning, cutting-edge debt devices.

They were the very first business in Canada to bring totally free credit report records as well as ratings from Equifax to the online masses.

They likewise originated the concept of an AI powered credit rating coach with their Molly credit rating train offering. Molly makes individualized suggestions regarding just how to enhance credit score, and also what debt products would be ideal suited to each customer based on their particular credit record aspects.

In July of 2022 they released Borrowell Rent Advantage which is the very first item to allow Canadians to construct their credit report just by paying their rent every month promptly. As of press time, this solution is just being used to pick Borrowell consumers at a registration price of $5 monthly.

What Does Borrowell Deal?

Free Credit Scores Record as well as Rating:

Borrowell has helped more than 2 million Canadians by providing them with the tools they need to better comprehend, master and manage their debt. Making the most of this offer takes less than 3 minutes, and also doesn’t have any kind of unfavorable effect on your score (referred to as a soft credit scores query).

Credit Builder

A newer offering just available to pick Borrowell customers, this product is a debt building financial savings car loan that sets you back $10/monthly, possibly boosts your credit history, and provides you back $240 in cost savings at the end of the term.

Charge Card Comparisons

Borrowell has partnered with many leading banks such as BMO and also Scotiabank to provide a range of bank card alternatives for Canadian customers with all different sorts of credit scores accounts. Their AI powered credit instructor Molly aids in this procedure.

Personal Fundings

After obtaining your Equifax Credit scores Report as well as Score, Borrowell presents a series of vetted instalment funding provides from their banks partners, customized to your credit rating. Although Borrowell does not supply fundings directly, they do offer a practical way to promptly compare financings from trusted companions.


Similar to their personalized AI-powered charge card as well as lending recommendations, they also permit Canadians in the marketplace for a mortgage a fast way to compare rates, and also have a much better possibility of getting the most effective deal as well as rate possible.


Contrast banking options in a convenient way with Borrowell’s bank comparison tool that assists find and recommend the appropriate financial items for you

Insurance Policy

Canadians can compare insurance items on-line with Borrowell along with discovering and also taking control of their credit history.

Rent Advantage

Announced in July 2022, Borrowell Rent Advatage allows Canadians to build credit history with their rent for only $5/month. As this product was just introduced, more details make certain to adhere to as it turns out to all Canadians.

Finally, by providing such a large range of monetary devices and recommendations, Borrowell looks for to be the one stop store that Canadians consider initially when it pertains to any type of facet of the personal funds.

Borrowell Business Details

Borrowell Firm Description

Financial Institution in Toronto, Ontario

Borrowell Describes itself as complies with: Borrowell is a happily Canadian company with a solitary objective in mind: to help people make excellent choices concerning credit history. This is why we were the first in Canada to provide complimentary credit report and records from our companion, Equifax, Canada’s largest credit rating bureau.

Borrowell Address

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

Borrowell Products

Free Credit Rating.
Free Credit Score Report.
Credit scores Train.
Credit scores Builder.
Rent Advantage.

Borrowell Google Evaluation Summary

Borrowell has 4.5 stars on Google Reviews compiled from over 700 evaluations.

Borrowell Recent Procurements

2021 – Refresh Financial.

Borrowell Leadership Team/ Secret Individuals

Andrew Graham – Co-Founder & CEO.
Eva Wong – Co-Founder & COO.
Lisa Brown – VP, Individuals & Culture.
Jeff Yim – CFO, Finance.
Simon Wyse – VP, Revenue.
Wilson Pappo – VP, Item.
Amruta Karmarkar – VP, Design.