In today’s digital age, checking your credit score has never been easier. Various apps and websites allow Canadians to view their three-digit credit number, as well as keep track of any changes. Two of the most popular options are Borrowell and Credit Karma — but many users wonder: which one is more accurate?
Key Points:
- Both Borrowell and Credit Karma can be considered accurate within their own systems.
- Borrowell uses Equifax, while Credit Karma uses TransUnion.
- Having multiple credit scores is normal because lenders, bureaus, and scoring models each handle data and timing differently.
- The focus should be on tracking overall trends and correcting report errors, rather than fixating on a single score.
Is Borrowell Or Credit Karma More Accurate?
The truth is, no single service is “more correct” than the other. It’s just that different websites sometimes use a different credit bureau, scoring model and data set to calculate your score.
| Feature | Borrowell | Credit Karma |
| Bureau Used | Equifax | TransUnion |
| Score Updates | Weekly | Weekly or near-weekly |
| Credit Score & Report? | Yes, both | Yes, both |
| Additional Benefits | – Educational tools – Credit monitoring & alerts – Product matching – Build credit with rent – Canadian company | – Frequent updates – Credit monitoring & alerts – Custom product matching |
| Ideal For | Canadians who want Equifax-based monitoring | Canadians who want TransUnion-based monitoring |
Borrowell (Credit Score Checking Service)
Borrowell is a Canadian credit-monitoring platform that gives you free access to your Equifax credit score and full Equifax credit report.
A major benefit here is that Borrowell updates your score weekly, which makes it easier to spot changes quickly and track whether your efforts are moving the needle. Plus, checking your score with Borrowell doesn’t hurt your credit.
What you see inside Borrowell reflects Equifax’s data file, not TransUnion’s. That distinction matters because some lenders and creditors report only to one bureau.
Borrowell Features
- Educational Tools: Beyond the score itself, Borrowell provides opportunities for education and guidance. Inside the app, you’ll find easy-to-read explanations of the different factors affecting your score, as well as tips to improve it.
- Credit Monitoring & Alerts: Borrowell also offers weekly credit monitoring with alerts, and lets you download your Equifax report directly. For many users, the value is that you can monitor, understand, and act from a single dashboard.
- Product Matching: Borrowell also matches you to credit cards, loans, and bank accounts based on your profile, but those recommendations are optional.
- Rent Advantage: Build credit with your rent payments, including up to 24 months of past payments made. Sign-up fee of $69 and $8 per month fees apply.
Who Is Borrowell Best For? Borrowell is best for Canadians who want their Equifax view refreshed weekly, prefer a Canada-based app, and value built-in coaching alongside free report access.
Credit Karma
Credit Karma (Intuit Credit Karma) is a free online platform that provides free access to your TransUnion credit score and report in Canada.
If your lenders primarily report to TransUnion, or you’re preparing for an application with a lender that prefers TransUnion data, Credit Karma gives you a clear picture of what they are likely to see.
Credit Karma Features
- Frequent Updates: Like Borrowell, Credit Karma updates frequently, sometimes up to once a week, and will notify you of significant changes, such as new inquiries or significant balance shifts. Because it uses TransUnion as the underlying data source, your Credit Karma view can differ from what you see in an Equifax-based report.
- Credit Monitoring & Alerts: Credit Karma lets you track changes to your credit report and sends real-time notifications about important updates, helping you stay informed and detect potential fraud.
- Custom Product Matching: Beyond monitoring, Credit Karma offers personalized product matching (credit cards, loans) based on your profile and provides some educational resources on the various credit factors.
Who Is Credit Karma Best For? Credit Karma is best for Canadians who want their TransUnion credit data, with frequent updates and robust monitoring, and who may be applying with lenders that rely on TransUnion data.
| Pro Tip: Focus On Trends Rather Than One “True” Number It’s perfectly normal to see variations in your score between platforms. Because they rely on the same sources, each score is valid in its own context. Rather than focus on pinning down the “true” number, it’s more useful to watch the overall trend of your score (and ensure it’s moving in the right direction). |
Why Do You Have Multiple Credit Scores?
It’s common to have several credit scores circling your name — and that can be confusing. But there are good reasons for the variation.
- Lender Reporting: Some lenders report to only one bureau, while others report to both. Some may not report credit data at all.
- Different Data Collected: Each credit bureau (Equifax & TransUnion) may collect different data and update at different intervals.
- Different Scoring Models: Each bureau often uses a different scoring model, each of which weighs variables — like payment history, utilization, or length of credit — differently.
- Timing Of Reported Data: Timing also matters, as one platform might display data that is a few days newer or older than another, creating more potential for variety.
- Application Type: Lenders might pull a different score depending on the type of application. For example, one bank may look at your Equifax score, while a credit-card issuer may pull your TransUnion file. Because of that, the number you see on Borrowell or Credit Karma may not exactly match what a lender sees whenever you apply for new credit.
| Which Credit Score Is The Right One? Multiple scores don’t mean one is wrong — they simply reflect different inputs, models and timing. The key is to monitor whether your credit strength is improving or deteriorating, not to chase a single perfect number. |
Learn more: Get Your Credit Score and Credit Report
Which Credit Score Do Lenders Check?
Lenders may pull your credit score from either Equifax or TransUnion — and sometimes both. The decision is up to the individual lender, their own policies, and which bureau(s) the creditor typically reports to.
Because of this, the score you see on one platform may differ from what a lender uses. Each lender may select their preferred credit bureau or scoring system.
The bottom line is: you want strong credit behaviour reported with both bureaus, because you can’t always know which one will matter in a specific application.
Learn more: Which Credit Bureau Do Lenders Check in Canada?
Things To Remember When Using A Credit Score Service
Here are some key things to keep in mind whenever you’re using any credit score service:
Don’t Obsess Over Small Changes
Your credit score will fluctuate, so try to focus on the overall long-term trend, rather than weekly jumps.
Check Your Report For Accuracy
Credit score services let you see your report details (accounts, payment history, inquiries). Make sure you take the time every month or so to check over those details and move to dispute any potential errors immediately.
Addressing those inconsistencies not only brings your scores closer together but also ensures lenders are seeing an accurate reflection of your credit history.
To dispute an inaccuracy on your credit report, choose the credit bureau you wish to dispute with and select a contact method:
| TransUnion | – Telephone: 1-800-663-9980 – TransUnion’s online portal – Mail: TransUnion Consumer Relations Department 3115 Harvester Road, Ste. 201 Burlington, ON L7N 3N8 Learn More |
| Equifax | – Online with a digital dispute process – Mail: Equifax Canada Co. National Consumer Relations P.O. Box 190 Montreal, QC H1S 2Z2 – Fax: 1-514-355-8502 Learn More |
Use The Service As A Tool, Not A Solution
These platforms provide free monitoring, but they’re not a guarantee of loan approval and won’t help you with the hard work of building good credit habits.
Don’t Let The Numbers Confuse You
Differences between various credit checking platforms are normal. That said, major swings might hint at an error, or a big change in your credit report, rather than model differences alone.
Large discrepancies usually mean one credit bureau has information that the other doesn’t. For example, a lender may report only to Equifax, or a payment error may be listed on just one file.
Where Else Can You Get Your Credit Score?
Beyond Borrowell and Credit Karma, there are other options out there to view your credit report and score:
| TransUnion | You can access your credit report (known as a “consumer disclosure”) directly from TransUnion in Canada. Quebec residents can get both your score and report for free. Residents of all other provinces can get their free consumer disclosure free but must pay for their credit scores. |
| Equifax | Equifax offers direct access to your credit report and scores for free. |
| Banks | Many Canadian banks now integrate a credit-score dashboard into their online or mobile banking for customers. |
| Loans Canada | You can use the Loans Canada’s CompareHub tool to check your Equifax credit score and credit report. |
If you can, it’s recommended to check both bureaus’ reports at least once a year, because one may show something that the other doesn’t. And if you’re seeing your score on multiple platforms, comparing them can help you spot reporting delays, discrepancies, or errors.
Why Is My Credit Score Not Showing Up At All?
In some cases, you may not see your credit score at all. If so, there are several common reasons this might happen.
- You Have Limited Credit History: One possibility is that your credit file is too limited. If you haven’t used credit much or your lender doesn’t report to both major credit bureaus, there may not be enough data to generate a score. It’s always wise to confirm whether your lender reports to Equifax, TransUnion, or both, as this can affect your visibility across different platforms.
- You Closed Your Credit Accounts: Another reason could be that your credit accounts have been closed for a long time. Once these accounts age off your report, your file may become too sparse to calculate a score.
- You’re New To Credit: If you’re new to using credit or just opened your first account, the bureaus usually need at least six months of activity before assigning a score.
- You’re A Newcomer: If you’ve recently immigrated to Canada, your credit history from another country won’t transfer, meaning you’ll need to build a new credit profile from scratch.
- Mistakes On Your Credit Report: Technical errors or incorrect personal information, like a wrong address or SIN, can also prevent your score from appearing. If you suspect an error, contact both credit bureaus to investigate and correct the issue.
Learn more: Why Isn’t My Credit Score Showing Up?
Bottom Line
If you’re wondering whether Borrowell or Credit Karma is more accurate, the answer is that both provide valid scores within their respective models. Because they pull from different bureaus and scoring systems, you will see variation, and that’s completely normal.
If you’re trying to improve your credit score, remember that building better credit habits, monitoring your score regularly, and checking for errors will all help to build upward momentum.
Whether you use Borrowell, Credit Karma, or both, these tools give you a clearer handle on your credit health — which is what truly matters when you apply for a loan or credit card down the line.
