The Well

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

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

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

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

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

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

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

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

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

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