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
Study: Monitoring Your Credit Score Can Help Improve It Over Time
A study conducted by Borrowell, Canada’s leading credit monitoring company, has found a positive relationship between the frequency of credit score monitoring and credit score increase over time. Drawing from user data, the study also reported that customers with lower… Read More
How Long Does Information Stay On My Credit Report?
Now that Borrowell has launched free credit reports for Canadians – we get asked this question all the time: “How long does information stay on my credit report?” It’s an understandable question, considering how important credit is to almost all… Read More
February 16, 2018Blog
A Step-By-Step Guide To Convince Someone You Love To Check Their Credit Score
We know – checking your credit score can be nerve-wracking! Your credit score, a three-digit number between 300 and 900, is an important indicator of your overall credit health. It’s used by banks and lenders to determine your creditworthiness and… Read More
February 14, 2018Blog
Can Taxes Affect My Credit Score?
Your credit score is the number that essentially allows you to be approved for future credit. Future credit can take the form of credit cards, auto loans, or even mortgages. If you’re trying to borrow money, your credit score matters.… Read More
February 1, 2018Blog
Why Are We Launching Free Credit Reports?
We started Borrowell with a big goal in mind: to help Canadians make great decisions about credit and improve their financial well-being. With Canada’s household debt at record levels – to the tune of $2.11 trillion – we think there… Read More
January 24, 2018Blog
3 Things You Need To Check On Your Credit Report
Borrowell is all about helping Canadians understand and improve their financial well-being. This is precisely why we have now launched FREE credit reports! Your free credit report reveals important information about your credit score, your financial history, and can give you insights… Read More
January 24, 2018Blog
The Top 3 Credit Score Myths: Busted!
Building good credit after a financial setback is not an easy task. While it can be tough to sort through all the information available, challenging your assumptions is a good place to start! Look out for these credit score myths… Read More
Take Control Of Your Finances! 4 Ways To Save In 2018
Happy New Year from Borrowell! Is your New Year’s resolution to take control of your finances and pay off debt? You’re not alone. According to a new CIBC poll – 25% of those surveyed listed reducing debt as their top… Read More
January 2, 2018Blog
What Does My Credit Score Need To Be To Get A Mortgage In Canada?
Buying a home is one of the most important (and expensive) decisions that you’ll ever make in your life. If you’ve decided to take the leap into homeownership, congratulations! Depending on where you live, it may be a tough process,… Read More
December 14, 2017Mortgages