The credit checker 4 million Canadians use. Free, weekly.
Borrowell pioneered free credit scores in Canada (2014). They're still the gold standard for the free tier. The loan marketplace, credit coach, and rent reporting add real value — but Equifax behind a paywall is the catch.
STUDENT NAME: BORROWELLYEAR: 2026
REPORT CARD
SUBJECT
GRADE
SCORE
TEACHER'S NOTES
Free Credit Score
A+
95/100
TransUnion · weekly updates · monthly free report. First in Canada · 4M users.
Reports rent to Equifax · adds to history. $8/mo cost · only Equifax (not TU).
Identity Monitoring
B
75/100
Premium tier · dark web monitoring + ID theft insurance ($50k).
Direct Lending
C
65/100
Not a direct lender · just marketplace. Some Borrowell-branded products through partners.
Equifax Coverage
D
50/100
TransUnion only on free tier · Borrowell Premium adds Equifax. Most users miss half the picture.
OVERALL GRADEA−76 / 100
★ KEY FACTS ★
Borrowell at a glance
FOUNDED2014 · Toronto
USERS4M+ Canadians
BUREAUSTransUnion (free) · Equifax (paid)
COST$0 base · $7.99/mo Premium
LOAN PARTNERS50+ lenders
CEO/FOUNDERAndrew Graham
✓ STRENGTHS
Free TransUnion credit score · weekly updates
Free monthly credit report
Soft-pull loan pre-approvals
Free Credit Coach personalized advice
Strong educational content + tools
Sweepstakes hooks for sign-up ($25k+ monthly)
Trusted brand · 4M users
✗ WEAKNESSES
Free tier is TransUnion only (Equifax behind paywall)
Not a direct lender · loan terms via partners
Some pre-approvals don't convert at the lender
Premium ($7.99/mo) often unnecessary for basic users
Boost (rent reporting) is $8/mo for what some banks offer free
★ HOW BORROWELL MAKES MONEY ★
Free isn't free
If you're not paying for the product, you ARE the product. Borrowell's business model:
Affiliate commissions from loan partners when you successfully apply through their marketplace
Premium subscriptions ($7.99/mo) for Equifax + identity monitoring
Boost subscription ($8/mo) for rent reporting
Sponsored partner placements on credit card + loan offer pages
That said, Borrowell is transparent: they tell users they earn from referrals. The free score really is free, with no hidden bait-and-switch.
FINAL VERDICT
Best free credit score service in Canada. Skip the Premium unless you specifically need Equifax + identity monitoring. The loan marketplace is genuinely useful for shopping without hard inquiries — use it.