Borrowell and Equifax partner to give free credit score reports

By: Justin Leung on June 21, 2016

Regularly checking your credit report and knowing your credit score can be one of the most important aspects of living a good financial life. However, many Canadians don’t know their credit score or history simply because getting your hands on them is usually a bit of a hassle.

Borrowell and Equifax are here to change that.

According to Betakit, the two companies have partnered to provide people with free access to their credit score without requiring a credit application. At the same time, the companies want to help people learn how their score is impacted and what someone could do to improve their score.

Users can get their score by signing up on Borrowell’s website. While you’ll get the number right away, they will also tell you how to get a detailed report on your credit history, either through an online purchase or for free through the mail.

While customers get to know where they stand financially, Borrowell benefits from getting an influx of new users who sign up for their credit score. On top of presenting personalized offers of its own loan products to these new people, Borrowell will be able to present third party financial products that match up with their financial profile.