Since the dawn of time, Canadians have have to pay just to view their credit scores. Annoying, huh? No longer\u2014a local financial technology startup has given Canadians the ability to view their scores for free.<\/p>\n
Borrowell’s latest service gives Canadians access to their Equifax credit score for free using a simple online form<\/a>. The no-obligation service allows consumers to learn about their financial well being without having to apply for credit. Borrowell<\/a> will also provide consumers with an updated score every three months, allowing them to track their progress.<\/p>\n \u201cIn talking to consumers every day, we came to realize that many Canadians don\u2019t know their current credit score, or how to improve it,\u201d said Andrew Graham, CEO, Borrowell. \u201cThe reality is that lenders across the country use credit scores to decide who qualifies for loans and at what price. By providing Canadians with their scores and educational resources on how to improve them, Canadians will have better options when it comes to accessing credit.\u201d<\/p>\n According to a 2015 recent survey published by BMO Bank of Montreal, approximately 56 percent of Canadians said they have never checked their credit score, and only 14 percent check at least once a year.<\/p>\n \u201cWe\u2019re excited to partner with Borrowell to bring this game-changing financial service to Canadians,\u201d said Chris Briggs, Chief Marketing Officer, Equifax Canada. \u201cAccessing a credit score can be an important first step for a consumer on his or her financial journey \u2013 in helping them better understand their personal financial situation.”<\/p>\n