Last Updated on June 24, 2025 by Yetty Akindele
Keeping tabs on your credit score is essential for financial health, especially when planning major life decisions like buying a home, leasing a car, or applying for a loan. Fortunately, checking your credit score in Canada doesn’t have to cost a dime. Thanks to Borrowell, Canadians can now access their credit information easily and for free. In this detailed Borrowell review, we’ll explore how the platform works, its key features, and why it has become the go-to solution for a free credit score check in Canada.
Table of Contents
What is Borrowell?
Borrowell is a Canadian fintech company founded in 2014. It provides free access to your credit score and credit report, as well as personalized financial recommendations to help you improve your financial wellbeing. With over 2 million users, Borrowell has become a trusted source for Canadians looking to gain better control over their credit.
Unlike traditional financial institutions that charge a fee to access your credit report, Borrowell gives you this information for free. It partners with Equifax, one of Canada’s major credit bureaus, to provide accurate and up-to-date credit data.
Why Your Credit Score Matters
Your credit score is a three-digit number that gives a measure of your creditworthiness. It’s calculated based on your credit history, payment habits, credit utilization, and other financial behavior. Lenders use this score to determine how likely you are to repay loans or manage credit responsibly.
A strong credit score can help you:
- Qualify for better loan and mortgage rates
- Get approved for credit cards with higher limits and perks
- Negotiate lower insurance premiums
- Pass background checks for rental applications
Knowing your credit score empowers you to make informed financial decisions and avoid costly surprises.
How Borrowell Offers a Free Credit Score Check
Borrowell offers a free credit score check in just a few steps:
- Sign Up Online
Visit Borrowell.com and create a free account. You’ll need to provide basic personal information such as your name, email address, and date of birth. - Verify Your Identity
To protect your privacy, Borrowell uses identity verification questions based on your credit history. This is a soft credit check and does not impact your score. - View Your Credit Dashboard
Once verified, you’ll get access to your Equifax credit score, updated weekly. Your dashboard also includes a detailed credit report, personalized recommendations, and a credit score tracker.
Borrowell’s service is completely free—there are no hidden fees or trial periods.
Key Features of Borrowell
Borrowell is more than just a free credit score checker. Here are some of its most useful features:
1. Weekly Credit Score Updates
Your credit score is refreshed every week, helping you stay on top of changes and track your progress.
2. Detailed Credit Report
Borrowell provides a breakdown of your credit history, including credit card balances, loan accounts, missed payments, and credit inquiries.
3. Credit Score Simulator
Wondering how a new credit card or loan might affect your score? The simulator allows you to model different scenarios and see potential impacts before taking action.
4. Personalized Financial Product Recommendations
Based on your credit profile, Borrowell recommends credit cards, loans, and mortgages that best match your financial situation.
5. Credit Monitoring Alerts
Stay protected with email alerts for changes in your credit report, such as new accounts or inquiries. This can help detect fraud or identity theft early.
Is Borrowell Safe to Use?
Security is a top concern when sharing personal information online. Borrowell uses bank-level 256-bit encryption, secure servers, and strict privacy protocols to ensure your data is protected. They never sell your personal information and only share it with trusted partners when you choose to apply for financial products.
Additionally, since Borrowell uses a soft credit check, your score is not impacted when you sign up or log in.
Who Should Use Borrowell?
Borrowell is ideal for:
- First-time credit users who want to build a healthy financial foundation
- Homebuyers preparing for a mortgage application
- Students and young professionals looking to improve their credit profile
- Anyone seeking a free, easy way to monitor credit regularly
Whether you’re rebuilding your credit or just want to stay informed, Borrowell makes the process accessible and stress-free.
Pros and Cons of Using Borrowell
Pros
- Free weekly credit score checks
- No impact on your credit score
- Easy to use online dashboard
- Personalized product offers
- Credit monitoring and alerts
- Educational tools and score simulator
Cons
- Only uses Equifax (some lenders may use TransUnion instead)
- Recommendations may include sponsored product offers
How Borrowell Makes Money
You might wonder how Borrowell offers all this for free. The answer lies in affiliate marketing. When you apply for a loan, credit card, or other product through Borrowell’s platform, the provider pays them a referral fee. This means Borrowell can provide valuable tools and insights without charging you a dime.
Final Thoughts: Is Borrowell Worth It?
Absolutely. Borrowell offers one of the most comprehensive free credit score check services in Canada. With regular weekly updates, detailed reports, and helpful tools, it empowers Canadians to take control of their financial health.
Whether you’re just starting out or looking to improve your credit profile, Borrowell is a smart, secure, and free tool that belongs in every Canadian’s financial toolkit.
Get Started Today
Ready to take charge of your credit?
Sign up for Borrowell today and get your free credit score check in minutes. Your future self will thank you.