Borrowell: Credit Score Canada 12.8.0

Borrowell aims to empower Canadians in their financial journeys, fostering a sense of confidence and control over their money management. It emphasizes the significance of credit scores, which are pivotal in determining approval for financial products and securing favorable interest rates.

With a trust base encompassing 1 in 10 Canadians, Borrowell serves over 3 million members by offering extensive credit monitoring and tailored insights. Users can access their credit score and report in merely three minutes without the need for credit card details or a Social Insurance Number. Importantly, checking your score with Borrowell does not affect your credit rating.

Features:

• Credit Score Monitoring: The Borrowell app provides an intuitive platform to check your credit report and history, ensuring you can monitor changes to your score at any time. It uniquely offers free weekly updates along with full access to your credit report.
• Understanding Your Credit Score: Users receive insight into factors that influence their credit scores, including payment history and credit utilization. The app offers personalized recommendations to enhance your credit profile, encouraging proactive financial management.
• Personalized Financial Product Recommendations: By reviewing your credit score, Borrowell suggests customized products such as auto loans, credit cards, and savings accounts from a network of over 75 reputable financial institutions. Users can evaluate their likelihood of approval before applying for any credit product.

Building a positive credit history is essential for accessing various financial products at competitive rates. Not only lenders but also potential landlords and employers may consider your creditworthiness during their evaluation processes.

• Borrowell Rent Advantage™: This feature allows users to build their credit by reporting rent payments to Equifax Canada without requiring landlord cooperation. It enables users to establish a solid credit history even if they have a lower credit score, with no hard inquiries or hidden fees involved.
• Borrowell Credit Builder: This tool assists users in enhancing their payment history and diversifying their credit profile without incurring additional debt. Payments are handled automatically through pre-authorized debit agreements, ensuring timely payments with no hidden costs.

Security:

At Borrowell, safeguarding members' personal information is paramount. The platform employs bank-level 256-bit AES encryption to ensure the protection of sensitive data.

Please note that by downloading and using the Borrowell app, you accept the company's Terms of Use available on their website.