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ID Shield Review

Saturday, October 16th

2021 Canadian Credit Monitoring Company Reviews

ID Shield Review 4.5 Star Rating

ID Shield

4.5 Star Rating
  • $12.95/month for individual plan
  • $24.95/month for family plan (couple + up to 10 dependent children)
  • Comprehensive identity protection: dark web surveillance, credit monitoring and alerts when unwanted activity is detected, social media scanning and more
  • Monthly TransUnion credit score tracker
  • Support with credit report errors and disputes
  • 24/7 access in emergencies
  • Unlimited consultations with fraud experts

ID Shield is a member of the Legal Shield brand family, a company that has been in operation for the better part of 50 years. This comprehensive, trustworthy credit monitoring company earns our highest recommendation among Canadian paid subscription services.

Most Affordable Pricing For Individuals And Families Too

This company keeps it simple with only one selection to make: monitoring for an individual or for a family, which includes a couple and up to 10 dependent children. ID Shield is surprisingly affordable, with monthly prices of $12.95 for one person and $24.95 for the family plan.

Fully Featured

Despite having much lower costs than many other paid platforms, this service is very robust with the coverage they provide. ID Shield monitors your TransUnion credit history, triggering an alert every time your Personally Identifiable Information (PII) shows up on a credit check. Their intelligent analytics also track your PII on the dark web, as well as any uses of your email addresses, phone numbers, driver's license and passport, and much more.

Best Canadian Credit Monitoring Companies

Help Provided If Identity Theft Occurs

If you become the victim of identity theft while subscribing to ID Shield, their specialists will give you comprehensive reputation and financial restoration. This may include working with law enforcement personnel to clear your name, with credit card companies and financial institutions, and so forth. You can also work with a certified identity theft specialist to get personalized guidance on protecting your privacy, reputation and PII online.

Canada-specific Features

We appreciate that ID Shield makes it clear that they are focused on the needs of Canadian residents. As a subscriber, you'll get address monitoring through the Canada Post Change of Address Database, plus regular scanning of Canadian public directories on the internet. Your Canadian Medical IDs are also monitored, and your ID Shield membership will help you access your medical data reports and correct any inaccurate details you find there.

Glowing Customer Feedback

Best of all ID Shield has received a lot of positive feedback. More than 90% of its customers give the service a 5-star rating, with lots of reports of super-quick alerts when fraud is detected, friendly representatives who are glad to answer questions and offer help, and clients who say that this credit monitoring is well worth the small monthly fee. The Better Business Bureau agrees, giving ID Shield a flawless "A+" rating and accreditation as well.

Best Choice For Paid Credit Monitoring In Canada

Credit monitoring doesn't have to be complicated - or expensive. ID Shield provides Canadian consumers the best level of service at a very affordable price, especially for large families who want to protect the credit of parents and children alike. This company receives our highest recommendation among paid credit monitoring providers in Canada today.

The 8 Best Canadian Credit Monitoring Companies

Who Provides the Best Credit Monitoring Service for Canadians?

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.

The Best Canadian Credit Monitoring Companies Compare Canadian Credit Monitoring Companies Compare Canadian Credit Monitoring Company Reviews What are the best Canadian Credit Monitoring Companies Best Canadian Credit Monitoring Company Reviews

Canadian Credit Monitoring Company FAQ

Credit monitoring can mean two things: getting your credit score and report, or tracking inquiries made on your credit report with the intention of spotting fraud or identity theft. When you see services offering "credit monitoring" , most free platforms in Canada only offer you access to your credit score/report, while paid providers include tracking of your credit report and insurance against identity theft.
In Canada, there are two bureaus responsible for reporting consumer credit: Equifax and TransUnion. Each bureau uses different methods of calculating your credit score; some lenders and creditors prefer one over the other.
It might, depending on which service you select. Some free credit monitoring platforms in Canada give you access to your credit score and history, but you're responsible for looking for errors and fixing any problems you find. Paid services almost always monitor your account for any suspicious activity, help you freeze your accounts, and often include restoration specialists to guide you through the process of recovering your identity. You may even have identity theft insurance included in your paid package.
Some credit monitoring services in Canada are absolutely free. Most paid credit monitoring services cost between $11 and $30 per month, depending on the level of service you select and how many people you're covering (an individual vs. a couple or household).
Not necessarily. Your bank probably gives you access to your credit score when you sign into your account, but not a copy of your credit report. Plus, your bank doesn't have access to your credit cards, loans, or other creditors' information; they won't be able to spot fraudulent activity on any accounts outside of their institution.
If you use your monitoring service well, yes. Even with a no-fee credit monitoring platform, you can keep an eye on your credit score and act quickly if you notice anything out of the ordinary. Also, almost every credit monitoring service includes ample financial education, to help you understand money even better and to make good decisions for a healthy credit report.
Contact the company that is reporting the inaccurate information. It could be a simple administrative mistake. However, if you suspect that it's fraud, you should contact Equifax and TransUnion to inform them and ask that a fraud alert be placed on your credit reports. You should also report the fraud to the Canadian Anti-fraud Centre, and contact any lenders or other organizations that might be affected by the breach.
It's worth considering. Identity thieves often target children's information, because they can often use it for many years before being caught. Some credit monitoring programs in Canada offer discounted pricing for family plans.
Compare the Best Reviews

Continued from above...

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:

  • Credit score reporting vs. account monitoring. Are you interested in regular updates of your credit score, tools to help you manage your finances, and education about building and maintaining a healthy credit profile? You can get all of that for free with several reputable services. On the other hand, if you want your accounts actively monitored, so that you're alerted in the event of potential fraud, you'll probably need to consider a paid subscription plan.
  • Experian vs. TransUnion. Canada has two main credit bureaus, and most credit monitoring services only report your score with one or the other. Because each bureau uses different algorithms and metrics for making their calculations, your score can be significantly different depending on which one you use. If you sign up for a membership plan with a service that only reports your credit history at one bureau, consider also getting a free account with a second credit monitoring provider that pulls your score from the other bureau.
  • Reputation. Not all credit monitoring services are created equal. What do other Canadians have to say about the platform? If it's a subscription-based program, do most clients feel it's worth the monthly cost? Has the company been rated favorably by the Better Business Bureau? Does it provide credit and finance information and advice specific to Canadians, or is it just a repackaged service that was originally geared towards consumers in the US?

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.

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