Credit Verify Review: Credit Monitoring for a Price
To build and maintain a good credit rating, you should often check your credit score and bureau report. As they say, what gets measured, gets improved. To do this, you’ll need to sign up with a company that helps you monitor your credit.
Credit Verify is one of those companies. In this Credit Verify review, I’ll cover the services they offer, their pricing, and let you know how they compare to the other options that are out there.
What Is Credit Verify?
Credit Verify is a division of Credique LLC, a California-based company. They offer automated credit bureau reporting, including access to your credit report and score, and alerts anytime there are changes to your credit bureau.
They also have a feature called a Real-Time Credit Score Simulator, that they claim is integrated with the credit bureau and can display “what WILL happen if you take certain actions.” I have not used the tool so I cannot verify its validity. Credit Verify is available to residents of all Canadian provinces, except Quebec.
Credit Verify Pricing
Credit Verify offers new customers a free, 7-day trial period. After that, you pay $19.95/month for the service. I’ll let you know how that compares to the competition a little later. First, let’s take a look at what you get for your money.
Credit Verify Features
Here are the primary features that Credit Verify Premium Members can expect, for $19.95 per month.
- Daily Credit Monitoring Service
- Unlimited Credit Score and Report Access
- Real-time Credit Score Simulator
- Debt and Credit Analysis Tools
Credit Verify Alternatives
The big problem I have with Credit Verify is the fact that other companies provide the same service – for free. Not only that, but you could make the argument that they do a better job. Here are some alternatives to Credit Verify, starting with Borrowell.
Borrowell
Borrowell offers free weekly credit score updates and regular credit monitoring. Their goal is to “help people make great decisions about credit.” Every week, they send a copy of your Equifax credit report directly to your email inbox, notifying you of any changes to your credit file.
They also recommend various borrowing products from multiple lenders, such as credit cards and loans. If you need credit, you can certainly check out what Borrowell has to offer, although I recommend only using them for free credit monitoring.
Borrowell Features:
- Free weekly credit score and report
- Customized product recommendations from Borrowell partners
- Credit Education via AI-powered Credit Coach
- Tips to help you improve your credit
- 256-bit, bank-level encryption keeps your information safe
If you want to monitor your credit more closely but don’t want to pay the high costs of Credit Verify, you can sign up for Borrowell here, using our exclusive link.
Credit Karma
Credit Karma is similar to Borrowell in that they provide regular credit scores and monitoring services for free, along with loan and credit card recommendations. The big difference between the two companies is that Borrowell supplies your Equifax credit report, while Credit Karma deals with TransUnion.
I use Borrowell because I prefer to receive the Equifax credit report, but you can always sign up for both services so that you can receive updates from both credit bureau companies.
For more information, check out our full Credit Karma review or sign up with Credit Karma here.
Equifax or TransUnion
As I’ve alluded to, Canada has not one but two credit bureaus – Equifax and TransUnion. Most financial institutions report to both companies, with some only reporting to one or the other.
The government requires Canada’s credit reporting agencies to offer a free credit report (no score) upon request, once per year. For example, you can obtain your free Equifax credit score and report here.
Like Credit Verify, however, Equifax and TransUnion offer regular credit bureau monitoring for a monthly fee, which is why I prefer the free services provided by Borrowell and Credit Karma. Why pay for something if you don’t have to?
Is Credit Verify Legit?
By all appearances, Credit Verify is a legit company. Credit reports are provided by TransUnion, which is one of the two main credit bureaus in Canada. Your data is protected on the Credit Verify website with 128-bit encryption, where they also provide a detailed privacy policy.
Unfortunately, the internet is full of poor Credit Verify reviews from users, so while they are legit, I would use caution before subscribing and make sure you do the proper research.
The Bottom Line on Credit Verify
One of the best things you can do for your credit is to regularly monitor it using services like the ones I’ve mentioned in this article. Unfortunately, I can’t recommend Credit Verify when there are free options that are superior. Perhaps Credit Verify will improve its value proposition over time. Until then, save yourself $19.95 per month and sign up with Borrowell, Credit Karma, or both.
