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Monday, August 2nd
At the outset, Credit Verify looks like a well-rounded service for credit monitoring in Canada. Their coverage includes daily monitoring of your TransUnion credit score and alerts if anything suspicious is detected, guidance if you find errors on your credit history, and even reward "dollars" that can be used to get discounts at top retailers and services. So far, so good, right?
Have To Pay For A 1-week Trial First
You'll have to start by paying $1 for a 7-day trial, which then rolls into a $24.95/month membership plan. While most services don't offer a paid trial - it's either start paying right away or get all features for free, all the time - Credit Verify's monthly fees are on par with their rivals in the industry.
Unfortunately, Credit Verify doesn't have a good reputation. Listed under the name of its parent company, Credique LLC, this service earns a dismal "D" rating from the BBB. We were particularly troubled to see allegations of the platform using a job search site to get people to pay for credit checks through Credit Verify. Worse than that, many consumers report that the toll-free number provided by the company - the one you're required to use to cancel your monthly subscription - is out of service: calls never connect to an actual person or even a voicemail account.
Impossible To Cancel Membership
Even when customers are able to reach an agent and request cancellation, charges continue to be placed by Credit Verify. Many people say that the only way to get it to stop is by filing a dispute with their credit card company: ironic, don't you think, given that this service is meant to detect and prevent fraud?
Go Elsewhere For Trustworthy Credit Monitoring
There are better, more reliable ways to get credit monitoring in Canada, whether you go directly to one of the credit bureaus and pay for their services or use a third-party platform. When dealing with something as important as your credit history, you shouldn't have to worry that your monitoring service is working against you - and maybe even perpetuating the kind of fraud you're trying to detect and prevent! Credit Verify shouldn't be trusted with your sensitive information or your credit card number. You'll have a much better experience with any of the higher-ranked services in our review.
You might remember the days when you had to pay $20 every time you wanted to access your credit score. Not anymore! These days, most banks give you free access to your score just for having an account. There are also several free services that provide your credit score on a weekly or monthly basis.
But, what if you want to keep a closer eye on your finances? Or you want alerts if any suspicious activity is detected on one of your accounts? You're smart to think that way: according to the Canadian Anti-Fraud Centre (CAFC), approximately 27,000 Canadians experience identity theft every year, but only 29% of people they surveyed actually check their credit reports regularly as a means of protecting their personal information.
That's where credit monitoring services come in. You have several options to choose from, ranging from those free services mentioned earlier to monthly subscriptions that go much more in-depth to monitor your accounts, alert you if anything unusual comes up, and may even help you recover if you become a victim of identity theft.
Which Canadian credit monitoring provider is right for you? That depends on what you're looking for, and here are several criteria to keep in mind that can help you decide:
TopConsumerReviews.com has reviewed and ranked the best credit monitoring services for Canadians. We hope this information helps you understand your credit score, keep track of your credit usage, and continue to establish healthy credit habits well into the future.
Select any 2 Canadian Credit Monitoring Companies to compare them head to head
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