Menu
Log In
Sign Up

Borrowell Launches Free Equifax® Credit Report Monitoring

Rachel Surman

Jan 24, 2018 3 min read

Share on Facebook
Share on Twitter
Share on Linkedin
Borrowell Launches Free Equifax® Credit Report Monitoring, A Canadian First

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 monitoringpersonal 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.

Media Contacts

Borrowell

[email protected]

Equifax Canada

[email protected]

Rachel Surman
Rachel Surman
External Link
Share on Twitter
Share on Linkedin

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.

Similar Topics

8 Tips to Improve Your Credit Score

How To Improve Your Credit Score in Canada

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

Learn More

Can You Build Credit by Paying Rent?

Thanks to rent reporting services, you can now build your credit score by paying your rent on time every month.

Janine DeVault

Jun 17, 2024

Read More

Loan vs line of credit

With all the different credit options available in Canada, it’s important to understand the differences between each one so that you can find the right product for your needs. Credit can be useful to help you establish a history and finance purchases, but should be used mindfully.

In this Borrowing 101 article, we’ll give you an overview of personal loans and lines of credit to help you understand how they work, when to use them, and what to be careful of in order to protect your credit score.

The Borrowell Team

Feb 28, 2023

Learn More