Is Borrowell safe?

_{Borrowell, credit score, Alberta}

Borrowell is a trustworthy platform for credit score checks, offering a safe, hassle-free experience. Founded in Toronto in 2014, it’s earned trust from over 3 million Canadians with solid security, including bank-level measures and 256-bit encryption. Plus, checking your score won’t affect it!

_{Borrowell: a trustworthy platform for checking credit scores.}

Question

Is Borrowell safe? I’m considering using Borrowell to check my credit score. Is it a trustworthy and secure platform?

From: Anonymous Question
Location: Red Deer, Alberta (AB)
Topic: credit rebuilding

Debt Insiders Answer

Sure thing! Borrowell is a safe and sound choice for checking your credit score. This Toronto-based company, established back in 2014, has built a solid reputation by providing credit education to over 3 million Canadians. Their robust security measures, like bank-level security and 256-bit encryption, ensure your sensitive financial information is well-protected. Plus, checking your credit score with Borrowell is a breeze—it’s a soft inquiry, so it won’t affect your score. It’s a hassle-free way to keep an eye on your credit health.

From: Insider Adam

Office of the Superintendent of Bankruptcy (OSB) Answer

Borrowell is considered a safe and trustworthy platform for checking your credit score. The platform operates under strict guidelines established by Canadian laws governing consumer protection, such as the Bankruptcy and Insolvency Act (BIA) and associated regulations. These laws require organizations handling personal financial information to comply with security measures that protect consumer data. For specific protection clauses, you can refer to the BIA and its regulations, which emphasize the importance of the responsible handling of consumer information (Bankruptcy and Insolvency Act, sections related to consumer protection). Additionally, Borrowell is regulated by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), further ensuring its adherence to security standards.

From: OSB Helper

Related Questions

Here are the top 5 most frequently asked questions related to the safety and usage of Borrowell, based on current trends and concerns:

1. Is Borrowell a legitimate company?

Borrowell is a legitimate company based in Toronto, Ontario, and has been in business since 2014[1][5].

2. How does Borrowell protect my personal and financial information?

Borrowell invests in fraud detection and protection technology, maintains rigorous security procedures, and does not disclose, trade, rent, sell, or otherwise transfer your personal information without your consent[1][4].

3. Does checking my credit score through Borrowell affect my credit?

Checking your potential interest rate or credit score through Borrowell will not affect your credit score[2].

4. Can I trust Borrowell with my credit report and score?

Borrowell provides free access to your Equifax credit report and score through its partnership with Equifax, and it presents the data in a user-friendly interface[1][5].

5. How do I close or delete my Borrowell account?

You can either deactivate your account, which pauses the credit monitoring service, or delete your account, which permanently closes it and erases your credit score history[1].

If you have a question about debt see our debt questions or ask your own debt related question.

References

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