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How does Borrowell make money?

Our business generates revenue by recommending products such as loans, savings accounts, and other financial products based on your unique credit profile and financial goals. If you take a product we recommend, that partner pays us a referral fee. We also offer our own personal loan product and we earn a fee on each loan. Not interested? That’s totally fine – we’re still happy to provide you with your credit score for free. Hopefully, over time we’ll recommend something you will find useful. And if not, we’re happy to help you learn about and improve your credit score. We also don't disclose, trade, rent, sell or otherwise transfer your Personal Information, without your consent. 

How can I view my account information in French?

At this time, we don't offer French language support and we apologize for any inconvenience. But you can get your free credit score and report in English. In the future, we plan on offering our services in French to better service our Francophone members.

How much does it cost to use Borrowell?

Checking your credit score and credit report with Borrowell is a free service and there are no fees. 

How do I unsubscribe from emails in regards to my account?

The email you received is a transactional email related to your account activity. When there are updates to your account, we inform you as a member. Transactional or functional emails aren't required to have an unsubscribe link under Canada's Anti-Spam Legislation.

How do I unsubscribe from marketing emails?

Any marketing or promotional information we send out does have an unsubscribe link at the bottom. It's considered a Commercial Electronic Message.

I’d like to join the Borrowell team. How do I apply?

Great! Please see our careers page for current openings. If you’re interested in joining our team and there are no current openings that fit your profile, please send your resume to [email protected]

I have a media request. How do I contact Borrowell?

If you have a media request for Borrowell, please contact [email protected]

What do you do with my private information?

Your privacy is important to us. We will never share your personal information with a third party without your explicit consent. To learn more, please review our Privacy Policy.

What is a credit score?

Your credit score is a number that typically ranges between 300-900, depending on the scoring model, that the credit bureaus calculates based on information in your credit report. At Borrowell, we use the Equifax Risk Score 2.0 (ERS.20). This is a popular and legitimate score, used by many banks and lender. Your credit score determines interest rates and other financial offerings available to you. 

Which credit bureau provides the credit score?

We’ve partnered with Equifax to provide you with your free credit score. We purchase the credit scores from Equifax.

What information is on my credit report?

Your credit report contains important information about your credit history and it can be helpful to see it all in the same place. Your credit report contains the following information: 

Personal Information  Whenever you apply for credit, this information is updated. If it’s been a while since you’ve applied for credit, this may not be up to date.

Credit Inquiries You’ll be able to see any inquiries about your credit, such as when a potential lender is reviewing your credit. It’s important to make sure these inquiries are all done with your permission. 

Trades and Accounts  You can view any open or closed accounts that appear on your credit report, such as credit cards, instalment loans, mortgages and mobile phone accounts.

Collections  Your report will also show any accounts that have been sent to collections, whether the balance(s) have been paid or unpaid. Be careful – when an account gets sent to collections it can have a big impact on your credit score. 

Legal Items  Any public records you may have will also show on your credit report. An example of this is a court judgment. 

Bankruptcy  If you’ve ever filed for bankruptcy, it will appear on your credit report.

Why should I check my credit report?

Your credit report reveals important information about your financial history and can give insights into why your credit score is the way it is. A credit report allows you to see any inquiries that have been made about your credit to prevent identity theft, the personal information on your credit file, and information about your trades and accounts all in one place. 

How do I change or dispute something on my credit report?

If you see something that doesn’t look right on your credit report, please contact Equifax directly: 1-800-465-7166. Borrowell can’t change or modify any information on your credit report. We obtain this information from Equifax.

What is a thin credit file?

If you have a thin credit file, this means that Equifax doesn’t have sufficient information about you in order to produce a credit score. If you think this might be an error, please contact Equifax directly: 1-800-465-7166. Check out our blog on "" to help you build your score. 

What is the difference between a credit score and a credit report?

Credit score  Your credit score is a number between 300 and 900 (the average in Canada is 749) and is based on various information throughout your credit report. This number is determined by a credit bureau, such as Equifax, and is used to determine your creditworthiness. Borrowell provides your Equifax Risk Score 2.0 – a popular and legitimate credit score used by many banks and lenders. 

Credit report  Your credit report is created by one of two credit bureaus in Canada, Equifax or Transunion, and contains detailed information about your credit history. It includes information about your credit inquiries (checks on your credit), your personal information, and your trades and accounts (mortgages, mobile phone accounts, etc.). Borrowell provides your Equifax consumer credit report.  Your landlord, credit card issuer, and bank all may want to know your credit score and see your credit report.


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Borrowell® is a registered trademark of Borrowell Inc. All Rights Reserved. The Equifax credit score is based on Equifax’s proprietary model and may not be the same score used by third parties to determine your credit profile. The score provided to you for educational use is the Equifax Risk Score.


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