3 Reasons Why You Should Monitor Your Credit Score

Rachel SurmanBlog

Credit Score Monitoring

Knowing your credit score is important. But what’s even more important than simply knowing your score? Monitoring your credit score over time! Our data shows that Borrowell customers who frequently monitor their credit score actually improve their score by more points than customers who don’t. This is just one of the reasons Borrowell has introduced free monthly credit score monitoring . This means that you can sign up for … Read More

Bank of Canada Keeps Interest Rate At 1%: What You Need To Know

Rachel SurmanBlog

Interest Rate

The Bank of Canada (BoC) kept its trendsetting interest rate at 1% on Wednesday, following two straight hikes in July and September . This rate, called the “Overnight Rate,” is what dictates the prime consumer lending rates of Canada’s “Big Five Banks.” Why did the interest rate stay the same? While the bank is holding off on increasing the rate, for … Read More

Hold The Pumpkin Spice Latte! Here Are 5 Things To Do Instead

Rachel SurmanBlog

Pumpkin Spice Latte

It’s fall. As you may know, this means “pumpkin everything” in Canada – especially at the local coffee shops! While we love a delicious cup of joe as much as anyone, the price of a Tall Pumpkin Spice Latte at Starbucks – $5.25 (with tax) – has many of us sticking with the office coffee machine. So let’s say that you … Read More

Why You Need To Check Your Credit Score Right Now (!)

Rachel SurmanBlog

Why you should check your credit score now

Credit scores are important – which is why it’s so shocking that less than half of Canadians know their credit score! For those new to credit, a credit score is a three-digit number that is used by banks and lenders to determine your creditworthiness. This number, calculated by the credit bureaus, ranges from 300 to 900. The higher your score, the better. You should know … Read More