Here are eight tangible steps you can take to improve your credit score. Your credit score directly impacts your ability to get approved for financing, including credit cards, loans, and mortgages.
The Borrowell Team
Feb 04, 2021
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TORONTO, Canada – January 24, 2018 – Borrowell, Canada’s leading credit education company, today announced that it is providing Canadians with free access to their Equifax credit reports. For the first time, Canadians will be able to monitor important information in their Equifax credit report on a weekly basis, including credit utilization, inquiries and credit account history, for free online.
“Now more than ever, Canadians should keep a close eye on their credit and personal finances,” said Andrew Graham, Borrowell’s co-founder and CEO. “We were proud to be the first company in Canada to offer consumers free access to their credit scores. This is a logical next step for us, and gives our users a much deeper look into their overall credit profile, the same data used by many lenders, banks, cell phone providers and landlords.”
New and existing Borrowell members can easily access data from their Equifax credit file through Borrowell.com. Checking their score and report through Borrowell does not negatively impact consumers’ credit scores. To date, Borrowell has provided credit information to nearly half a million Canadians. Borrowell uses sophisticated security measures including bank-level encryption to ensure the safety and security of consumers’ credit information.
“It has never been more important for Canadian consumers to be educated about their financial position,” said Chris Briggs, Equifax Canada’s Chief Marketing Officer. “Equifax has long supported consumer credit education, and by deepening our partnership with Borrowell, we aim to make it easier for Canadians to learn more about the information contained in their credit report.”
Research by Borrowell has shown that consumers who learn about and monitor their credit scores see their scores improve, with longstanding users (defined as those who have using Borrowell for 15-18 months) experiencing an average improvement of 20 points. Consumers with lower scores (below 600) experienced an average increase of 43 points.
To enroll in Borrowell’s free credit report monitoring service or to create a free Borrowell account, visit www.Borrowell.com.
About Borrowell
Borrowell helps Canadians make great decisions about credit. With its free credit score monitoring, personal loans, and financial product recommendations, Borrowell empowers consumers to improve their financial well-being and be the hero of their credit. Borrowell has received significant recognition, including being named to the Fintech 100, a list of the top 100 fintech companies globally compiled by KPMG, and a “Company-to-Watch” by the Deloitte Technology Fast50 program.
About Equifax
Equifax is a global information solutions company that uses unique data, innovative analytics, technology and industry expertise to power organizations and individuals around the world by transforming knowledge into insights that help make more informed business and personal decisions.
Headquartered in Atlanta, Ga., Equifax operates or has investments in 24 countries in North America, Central and South America, Europe and the Asia Pacific region. It is a member of Standard & Poor’s (S&P) 500® Index, and its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. Equifax employs approximately 10,100 employees worldwide.
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Borrowell
Equifax Canada
Rachel Surman is a digital writer at Questrade and a former content marketing specialist at Borrowell. Rachel is passionate about helping educate others about credit. She's also a big fan of budgeting and saving - mainly so she can visit all the places on her bucket list.
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