Category Archives: Credit Score Education Centre

what is a credit score

What Is A Credit Score And Why Does It Matter?

Your credit score is incredibly important. The magical little number can define our financial status in the eyes of many. If you’re wondering, “What is a credit score, anyway?” – don’t worry! We’ve got you covered. What is a credit… Read More

Robert Palumbo

November 30, 2018

Credit Score Education Centre
the importance of on time payments

The Importance Of On-Time Payments

You may have heard that making on-time payments is the key to having a good credit score. But just how important is it to make your payments on time? The importance of on-time payments Making payments on time, also known as… Read More

Robert Palumbo

October 18, 2018

Blog,Credit Score Education Centre
what is credit utilization

What Is Credit Utilization?

One of the most important factors that determine your credit score is your credit utilization, but many Canadians don’t know what it is! Did you know your credit utilization determines 30% of your credit score? So, what is credit utilization?… Read More

Robert Palumbo

September 20, 2018

Blog,Credit Score Education Centre
Credit Monitoring

3 Reasons Why You Should Monitor Your Credit Score

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… Read More

Rachel Surman

October 25, 2017

Credit Score Education Centre
Credit, good credit, Borrowell

Why Did My Credit Score Drop?

So you checked your new (monthly!) updated credit score with Borrowell and it has dropped by a few points. While it can sometimes be a little worrisome – don’t freak out just yet. There are a lot of things that… Read More

Rachel Surman

September 27, 2017

Credit Score Education Centre
know your credit score

New To Credit: Guide to Building Great Credit in Canada

So you checked your Equifax credit score for free with Borrowell and there wasn’t enough information to produce your credit score. Why is this? What do you do now? The credit score provided by Borrowell is calculated by Equifax and… Read More

Dean Van Asseldonk

May 25, 2017

Credit Score Education Centre
creditscoredashboard

Why Is My Credit Score Different With Borrowell?

So you heard about Borrowell’s credit score service and decided to try it out. Woo hoo! Just one problem. You sign up online, only to discover that your score is different than when you checked your score directly with Equifax,… Read More

Robert Palumbo

May 9, 2017

Credit Score Education Centre,News
testimonial

Different Types of Credit And Why Variety Is The Spice Of Life

We’ve chatted a lot about credit, credit scores, and what determines your magic number – but what about the types of credit we have, and how those affect our score? Different types of credit carry weight in different ways. For… Read More

Robert Palumbo

November 17, 2016

Credit Score Education Centre
checking score

Are Credit Inquiries Bad?

Credit inquiries count for 10% of your overall credit score. Surprised it’s that low? I was. It’s pretty ingrained in us responsible Canadians not to apply for credit willy-nilly.However, getting quotes online with personal loan companies like Borrowell are considered… Read More

Robert Palumbo

November 17, 2016

Credit Score Education Centre
contact us laptop

Why You Should Think Twice About Cancelling That Credit Card

Credit history makes up a solid 15% of your credit score. The 15% is weighed on how long your accounts have been open, and how long it has been since you have been using those accounts (AKA, are they active?).… Read More

Robert Palumbo

November 16, 2016

Blog,Credit Score Education Centre