Online financial platforms have been giving traditional banks “a run for their money” lately, as they attract customers to their lucrative playing fields. Borrowell is no exception. Since 2015, the company has offered clients an alternative to the “old way” of doing banking. In a sense, they play the “middleman” to help connect users to bank accounts, personal loans, mortgages, credit cards, and insurance options.
Their commitment to helping their customers make positive credit choices sets them apart from their competitors.
Borrowell’s Free Credit Reports and Credit Scores
Simply put, customers’ credit scores affect their financial future. Borrowell offers a free credit score and credit report to new clients. Clients can find this online at Borrowell’s website. The questionnaire takes less than three minutes to finish. In addition, no credit card is needed.
Users can then download their free Equifax credit report, and review their credit score whenever they like, without hurting their credit. Weekly updates are provided so they can review how (and if) their credit score has changed. This feature allows users to stay on top of their credit situation, in an easy and manageable fashion.
Monitoring and tracking credit scores offer many advantages. Not only can clients see what spending they are doing well (and not well), they can also flag fraudulent activity or errors. Plus, Borrowell provides a feature referred to as “Molly”. This innovative AI-powered credit coach is the first of its kind in Canada, and Molly offers Borrowell clients personalized articles, tools, and tips to help improve their credit.
Personal Loans, Credit Cards, Mortgage Options
Another bonus to signing up with Borrowell is that it gives clients automatic credit product matches based on their credit profile. This includes personal loan and credit card products, mortgage options, personal banking accounts, and insurance with their over 50 company partners. When it comes to credit products, it shows users the likelihood of approval and options for applying online. If clients are looking for loans, credit cards, mortgage options, or insurance, they can also go to Borrowell’s website for more information on rates, terms, and more.
The free credit report and credit score from Borrowell helps clients understand what companies and products they should consider. It offers peace of mind for customers who might want to apply for credit products but are worrying about approval. There’s no need to apply to multiple financial institutions, several times (only to get rejected), when Borrowell can point a client to where they will get approved. Plus, the digital platform offers targeted questions for clients searching for a personal loan, credit card, or mortgage. Whether you are looking for a travel rewards credit card, need a debt consolidation loan, or want to refinance a mortgage, Borrowell can direct you to the right lender based on your credit score.
The company also offers unique tools on their website, like personal loan and mortgage calculators to help clients get a sneak peek at payments. Alex, their mortgage coach, is also a resource for customers with questions and concerns.
Borrowell partners up with top financial institutions such as American Express, Capital One, National Bank, BMO, and Scotiabank.
Don’t Forget Insurance
For insurance, Borrowell can link customers with the best policies and rates to suit their lifestyle and needs. Their insurance partners include Surex, Sonnet, LowestRates.Ca, and PolicyMe – just to name a few.
One last perk of the site is its free bill tracking service. Once clients link their bank account to Borrowell, the platform can automatically help oversee upcoming bills. This feature forecasts a bank balance, so users can anticipate how much money will be in their account when bills are due. Lastly, clients will receive bill reminders around payment dates and low-balance alerts.
For notifications and user convenience, Borrowell offers an app that is downloadable to both Apple and Android devices. This allows clients to stay on top of their finances, accounts, and credit score, as well as get other information and updates, while on the go.
View more information on Borrowell’s free credit report, and all the unique financial features it offers.