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Hey Brampton, get $5 for checking your credit score

Your credit score can have a big impact on your financial future. Sign up to monitor your credit report for free and earn $5!*

No credit card required. Sign up in 3 minutes. Checking your credit score with Borrowell won't hurt it.

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Borrowell Free Credit Score graphic with a credit score of 738

How Borrowell Helps With Your Credit Health

Sign up with Borrowell in just under three minutes

Monitor & Track

Sign up for free in just 3 minutes with no commitment or impact on your credit score. Track your success, flag errors and spot fraudulent activity.

Credit Improvement Education

Understand & Improve

Canada's first AI-powered Credit Coach, Molly, will share personalized tips, articles, and tools that may help improve your credit.

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Find the Right Product

Get automatically matched with financial products from over 75+ partners that fit your credit profile. See your likelihood of approval and apply in just a few clicks.

Why Are Your Credit Score and Report So Important?

Your credit report is like your financial report card, and your credit score is like your final grade. In Canada, banks and lenders review your credit when you apply for financial products. Your credit report can also be pulled by car dealerships, insurers, cell phone companies, landlords, and future employers to determine your ability to manage debt and meet financial obligations. Because of this, it's important to know your credit.

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What's a Good Credit Score in Canada?

What's a Good Credit Score in Canada?

A good credit score in Canada is any score between 713 and 900. Credit scores in Canada range between 300 and 900. There are five distinct categories that your credit score could fall into, ranging from poor to excellent. Having a good credit score can help you qualify for financial products at lower interest rates. Not sure where you stand? Check your credit score with Borrowell!

Find Out Your Score

Credit Score & Report FAQs

Credit scores are calculated based on five key factors from your credit report. Each factor makes up a certain percentage of your overall score. The core factors that make up your Equifax credit score (provided by Borrowell) are:

  • Payment history (35%)

  • Credit utilization (30%)

  • Credit history (15%)

  • Credit mix (10%) 

  • Credit inquiries (10%)

Your credit score is used to determine your overall creditworthiness or how likely you are to pay back credit. This is a popular and legitimate score that banks and lenders review when you apply for their products. A good credit score can help you qualify for credit cards and loans with low interest rates. A good credit score also helps you qualify for a mortgage. A bad credit score could get you denied for these products.

With Borrowell, you can check your credit score for free and see what credit cards, loans, and mortgages you can qualify for based on your score! Sign up for free and see your approval chances from over 50 lenders in Canada.

It's important to know your credit score! Your credit score is an indicator of your overall financial health. Banks, lenders, and even landlords check your score when you’re looking to get a mortgage, personal loan, or your dream rental. Knowing your credit score beforehand can help you apply with confidence.

You can check your credit score for free with Borrowell. The best part? It takes less than 3 minutes. Checking your credit score with Borrowell does not hurt your credit score.

Once you've signed up for Borrowell, you'll find out what's impacting your credit score, how to improve your score, and what financial products you should apply for with your current score. If you're looking for a new credit card, a car loan, or a mortgage, Borrowell will help you find the best product that matches your credit profile.

Your credit report is a detailed breakdown of your credit history, provided by one of Canada's credit bureaus (Equifax or TransUnion). Your credit report is like your financial report card. It shows when you’ve been granted credit, for things like a new cell phone or a personal loan. Your credit report also contains personal information, a history of your trades and accounts, and any derogatory marks.

With Borrowell, you can download your Equifax credit report for free.

Although checking your credit report once a year is the bare minimum suggested, you should at least check your credit report monthly. This way, you can spot any errors or fraud on your credit report that you otherwise might not have noticed until months later. Errors on your credit report can hurt your financial health. With Borrowell, you can receive credit report updates weekly.

Checking your credit report with Borrowell will NOT hurt your credit score. Anytime you check your credit report or score with Borrowell, it is considered a ‘soft’ inquiry and will not impact your score. This makes it easier to track your progress as you build and improve your credit score. With this in mind, you should learn how to read your credit report and start reviewing your report on a regular basis.

A ‘hard’ inquiry, on the other hand, does impact your score and is triggered if you apply for a credit card, a loan, a mortgage, or other types of credit products. Hard inquiries are triggered when a lender requests to review your credit report before approving your credit application.

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Borrowell uses advanced 256-bit SSL data encryption. We won't share your personal details with unauthorized third-parties or initiate transactions without your consent.

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*Borrowell Sign Up Offer Terms & Conditions

This Borrowell Sign Up offer (the “Offer”) is valid for new members who successfully sign up for a Borrowell account and receive their free credit score (a new “Member”) between Monday January 17, 2022, at 12:01 a.m. Eastern Time (“ET”) and Sunday February 20, 2022 at 11:59 p.m. ET (the “Offer Period”). This Offer is not open to existing Borrowell Members. Limit one Offer per qualified new Member. Must be a resident of Canada to qualify.

New Members are subject to Borrowell’s Terms of Use and Borrowell’s Privacy Policy (both available on our website), as well as the following additional terms and conditions for this Offer:

  • Reward Payments. The rewards are payable in the form of a prepaid e-gift card of $5 as determined in Borrowell’s sole discretion. Gift cards will be sent to the new Member through email within 10 business days of the Member signing up and receiving their free credit score. The Member is responsible for any and all tax liability resulting from this Offer.

  • Right to Close Accounts. Borrowell reserves the right to close the Borrowell account of any Member and to withhold or request reimbursement of the Offer if the Member attempt to use the Offer in a questionable manner, as determined by Borrowell in its sole discretion, or breaches any of these terms and conditions or is in violation of any applicable law or regulation.

  • Right to Cancel Offer or Change Terms. Borrowell reserves the right to cancel, suspend, withdraw or amend the Offer in any way, without prior notice or obligation.

An invitation to participate in this Offer does not provide assurance that you will be accepted as a Member of Borrowell.