How to download credit reports from Borrowell in 2023

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Looking for how to download credit reports from Borrowell? In this post, you’ll find 4 easy ways to do so.

You can now download and print a PDF version of your credit report to give to a prospective landlord. Borrowell offers its members complimentary weekly credit reports. Some suppliers only give annual credit reports to users. Borrowell provides its users with updated credit reports every week.

Borrowell delivers a secure PDF version of your Equifax credit report to avoid tampering, provide accuracy, and maintain data freshness.

Please note that this functionality is unavailable on the Borrowell mobile app. You must thus use a web browser to download and print your report.

To download your credit report:

When you join up for Borrowell to receive a free credit score, you can also download a free Equifax credit report. You may instantly read and download your PDF credit report via the Borrowell platform, which is restricted to desktop computers.

After registering with Borrowell and establishing a free account, you may download your whole credit report in 4 simple steps:

  1. Register in under three minutes for free weekly access to your Equifax credit score and report.
  2. Access your credit report using your account with Borrowell.
  3. In the upper right corner of your screen, click on “Download Your Credit Report.”
  4. You can print or email yourself a copy of your report once it has been downloaded.

Should I print out my credit report?

The ability to print your credit report helps expedite the approval process for rental applications. It can be quite competitive to find a rental, so you should arrive for property viewings with the paperwork a landlord may require. The three most important documents to bring to viewings are:

Your credit report

Your reference letters (either personal, professional or from past landlords)

Your letter of employment verification

Borrowell allows you to immediately download and print a free copy of your Equifax credit report. Borrowell works directly with Equifax Canada to offer you with a weekly copy of your verified and up-to-date consumer credit report.

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What details are contained in a downloadable credit report?
Your

Your downloadable credit report consists of five pages including your personal information, credit information, and other information on your credit file. Here are the principal sections of your credit report:

This field includes your complete name, date of birth, and mailing address.

This area displays open or closed transactions and credit accounts that appear on your credit report, such as credit cards, loans, and mortgages.

This section contains bankruptcies, consumer proposals, judgments, and other public documents.

Collections: This area will display any credit accounts and outstanding balances that have been forwarded to a collection agency as a result of significant missed payments.

This section displays any credit inquiries (commonly known as credit checks) that have been performed on your credit file.
How frequently should I monitor my credit report?

Although once a year is the bare minimum recommended, you should check your credit report at least once per month.

Thus, you can detect any inaccuracies or fraudulent activity on your credit report that you might not have seen for months.

Credit report errors can be detrimental to your financial health. Borrowell provides weekly credit report update notifications.

How long do bad details remain on my credit report?

The majority of negative information is typically removed from your file six years after the date of your last action.

This is contingent upon the type of information contained in your credit report.

Your credit report may contain a variety of information, including late payments, collections, and bankruptcies. Each product has a distinct shelf life.

How do I obtain a landlord credit report?

Borrowell allows you to download, print, or email your Equifax credit report to your landlord securely. Borrowell works directly with Equifax Canada to give our members with weekly credit reports that have been validated.

Credit reports are used by landlords to determine if a renter can pay rent on time. If your existing landlord requires an up-to-date credit report, or if a future landlord wants to see your credit report before approving your rental application, you may quickly download your credit report by logging into your Borrowell account.

Is it safe to provide my employer with my credit report?

You do not need to provide potential employers with your complete credit report. Employers may request a background check, which includes a credit check, during the employment process.

Employers receive a modified version of your credit report that provides a restricted picture of your credit history when they check your credit. This report has been adjusted to exclude your credit score.

Some businesses examine a candidate’s credit history to evaluate their financial management abilities. In Canada, pre-employment credit checks are permissible, but they require your written approval.

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If you’ve been asked to consent to a pre-employment credit check, you should be familiar with the contents of your credit report! This might help you anticipate any unfavorable information about your credit history that potential employers may find alarming.

Should I download my credit report in order to apply for a loan?

It is advisable to download and review your credit report prior to loan application. Before authorizing a loan application, creditors run a credit check. You should therefore know what your credit report looks like! Reading your credit report will help you determine whether creditors view you as a responsible borrower.

In addition, reviewing your credit report might assist you identify any red flags or inaccuracies. You can dispute your credit report with Equifax if it contains inaccurate or out-of-report information. This requires submitting a request for an investigation form and supporting documentation to Equifax.

Does downloading your credit report negatively affect your credit score?

Downloading your credit report in PDF format from Borrowell will not harm your credit score. Signing up with Borrowell, checking your own credit score, and downloading your own credit report are considered soft credit inquiries, which have no affect on your credit score.

If a lender or vendor requests your credit score or credit report, this is termed a hard inquiry and will have an influence on your credit score.

These are the key distinctions between soft credit inquiries and hard credit inquiries.

Differences between credit reports and credit scores?

There are some significant distinctions between your credit report and credit score. Your credit report is comparable to a financial report card, while your credit score corresponds to your final grade. When you apply for financial products, banks and lenders evaluate your credit report.

Car dealerships, insurers, cell phone companies, landlords, and prospective employers can also access your credit report to gauge your capacity to manage debt and satisfy financial obligations.

Why is monitoring my credit report so important?

Monitoring your credit report and score on a regular basis might help you improve your credit overall. A study of over 300,000 Borrowell members indicated that the average credit score of customers who regularly used our app for at least 18 months increased by 20 points. Members whose credit scores were below 600 saw an average rise of 43 points.

Monitoring your credit report frequently might also help you identify inaccuracies or other factors that may be dragging down your credit score.

 

 

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About the Author: Femi Olawole

Femi Olawole is a seasoned blogger with interest on providing helpful Contents on online loan apps, Tech and Business.

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