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Borrowell is a Canadian app that lets you check your Equifax credit score and report for free, with weekly updates and tips on improving your credit. It makes money from referrals when you apply for financial products it recommends. Here's how it works, what you get, and what to keep in mind.
Key takeaways
- Free Equifax credit score and report, updated weekly, plus credit tips.
- Borrowell says no SIN or credit card is needed to sign up.
- It's free because partners pay referral fees when you're approved for products it recommends.
- Checking your own score doesn't affect it. It's a soft check.
What you get
A free Equifax credit score and report updated weekly, plus credit tips. Borrowell says no SIN or credit card is needed to sign up. You'll see your score, the factors affecting it, and a summary of your accounts and payment history as reported to Equifax.
How it's free
According to Borrowell, partners pay it a referral fee when you're approved for a product it recommends. It says it doesn't sell your personal information without consent. That means you'll see product recommendations, such as credit cards or loans, in the app.
Things to know
Signing up and checking doesn't affect your score. Only apply for products you actually need. The Financial Consumer Agency of Canada (FCAC) confirms that checking your own credit score or report doesn't affect your score.
How to sign up
- Download the Borrowell app or visit its website.
- Create an account with your email.
- Enter your personal details, such as name, date of birth and address, so Equifax can match your file.
- Answer identity verification questions.
- View your score and report.
Borrowell vs. other free options
| Service | Bureau | Update frequency | Cost |
|---|---|---|---|
| Borrowell | Equifax | Weekly | Free |
| Credit Karma Canada | TransUnion | Weekly | Free |
| Equifax directly | Equifax | Free report available; paid products also offered | Free and paid options |
| TransUnion directly | TransUnion | Free online report every 30 days | Free and paid options |
Using both Borrowell and Credit Karma gives you a free view of both Canadian bureaus. See Equifax vs TransUnion in Canada.
Why your Borrowell score may differ from a lender's
Lenders may use a different bureau, a different scoring model, or their own criteria. The score you see is a useful guide, but it won't always match the number a lender uses. Focus on the trend and the factors affecting it.
Using Borrowell well
- Check weekly changes for unexpected new accounts or late payments.
- Review your full report for errors, such as accounts you don't recognize. See how to dispute a credit report error.
- Read recommendations critically. A pre-qualified offer isn't an approval, and applying can lead to a hard inquiry.
- Use the tips to understand what's affecting your score.
Privacy and security
Borrowell holds sensitive financial information. Use a strong, unique password and turn on any extra security features offered. Read the privacy policy to understand how data is used for recommendations.
Is Borrowell legit?
Yes. Borrowell is an established Canadian company, and its scores come from Equifax, one of Canada's two main credit bureaus. Like any free service funded by referrals, you'll see offers, so stay focused on what you need.
Who should use it
Borrowell is useful for anyone who wants to track their credit for free, especially newcomers building a file, people working to improve their score, and anyone wanting early warning of fraud. See how to improve your credit score in Canada.
Deleting your account
If you stop using Borrowell, you can close your account through its support or settings. Closing it doesn't affect your credit file with Equifax.
Understanding the factors Borrowell shows
Borrowell breaks your score down into factors such as payment history, credit utilization, credit age, number of accounts and recent inquiries. Each is shown with a rating, so you can see which area is holding your score back. If utilization is high, paying down balances is usually the quickest improvement. If credit age is low, time is the only fix, so keep older accounts open.
Pre-qualification and offers
Borrowell may show your chances of approval for certain products. These estimates are based on your credit profile and the lender's criteria, but they aren't guarantees. Applying for a product usually leads to a hard inquiry on your credit file, which can lower your score slightly. Compare offers carefully, including interest rates, annual fees and terms, before applying.
Using Borrowell to spot fraud
Weekly updates make it easier to notice changes you didn't expect, like a new account, a new inquiry or a change of address. If you see something you don't recognize, contact the lender and Equifax right away. You can also ask both Equifax and TransUnion to add a fraud alert to your file.
Frequently asked questions
Is Borrowell really free?
Yes. Borrowell says it earns referral fees from partners when you're approved for products it recommends, so checking your score is free.
Does checking my score on Borrowell lower it?
No. Checking your own score is a soft check and doesn't affect your credit score, according to the Financial Consumer Agency of Canada.
Which credit bureau does Borrowell use?
Borrowell provides your Equifax credit score and report, updated weekly.
Why is my Borrowell score different from my bank's?
Lenders may use a different bureau, scoring model or their own criteria, so scores can differ.
Sources
Official sources this article relies on, checked October 15, 2026. Rules and prices change, so confirm details at the source.