Credit Verify Review: Should You Use It To Check Your Credit Score?

Your credit score plays a big role in how favourable your terms will be when getting a loan. It also plays a significant role in the kinds of credit cards you will be approved for.

However, there seems to be some confusing information when it comes to getting a good idea of what your credit score is. Others simply don’t know how to check their credit score, and only bother to find out how to do so when they’re forced to (and usually at the last minute).

Thanks to credit monitoring services such as Credit Verify and Borrowell, you’ll be able to quickly check your score, all without damaging your credit.

But is there a downside to it?

Here’s our Credit Verify Review. Let’s see how it will work for you to check your credit score.

What is Credit Verify?

Just like Borrowell, which we’ve reviewed in the past, Credit Verify is a company that puts credit monitoring at the front and centre of its business model.

But unlike Borrowell, which offers credit checks for free, Credit Verify has a monthly cost.

Why would they charge money for a service that a competitor offers for free? That’s because Credit Verify is more than just a product broker. It offers a number of services on a subscription model.

For $34.95 a month, Credit Verify provides you with:

Credit Verify’s daily credit monitoring

Get a daily report showing you your current credit score. You also have the option to check your current score on demand. Since these are soft credit checks, they don’t affect your credit score.

Credit score changes alert

Get notified of any credit score changes, without needing to manually check each time. It also alerts you about potential identity theft attempts.

Real-time credit score simulator

A simulator that lets you know what will happen to your credit score if you were to try a new financial action. How would your credit score change if you applied for that fancy new credit card or “forgot” to pay off that loan?

$25 in rewards each month

Credit Verify also has a rewards scheme in place where you can get discounts every month. That being said, the rewards offered are more or less the same as getting mailer coupons or getting a referral code somewhere on the web. Nothing is earth-shattering here.

Credit Verify 7-day trial

If you just want to try out Credit Verify and see if it’s right for you, there’s also a 7-day trial period that will only cost you $1.

However, there have been some less-than-stellar stories about peoples’ experience with Credit Verify for this reason, which we’ll outline below.

Is Credit Verify Legit?

If your main concern is whether Credit Verify’s data infrastructure is safe, you’ll be happy to know that for all intents and purposes, it is safe.

Credit Verify is a legitimate financial institution. According to its FAQ, it uses 128-bit encryption, the same kind used by banks. Its credit reports are provided by TransUnion, one of the largest credit agencies, alongside Experian and Equifax.

If your concerns fall more on how your personal data is used, for better or for worse, it’s about on par with its competitors. Their privacy policy outright discloses that your data might be shared with 3rd party affiliates and subsidiaries.

This isn’t anything out of the ordinary, and social media accounts are far more intrusive. It’s still worth knowing so that you can make informed decisions.

But if you’re concerned about the user experience, you should really take a look at the TrustPilot Scores Credit Verify.

Credit Verify reviews from real customers

We’re not going to sugarcoat it: online Credit Verify reviews are pretty negative.

It currently has a score of 2.0 stars out of 5, and 54% of reviewers give it the lowest possible score.

Among some of the most common complaints are:

• difficulty cancelling,
• lackluster customer support,
• automatic renewal without warning,
• hidden fees, and
• only partial refunds.

Difficulty in cancelling is one of the biggest issues, and it may be seen as one of those continuity schemes that cost consumers tons of money. Yes, you will be able to cancel, but not without a fight.,

Does this mean that you should never use Credit Verify? That’s a question for you to answer. If all you care about is being able to quickly check your credit rating in the hopes you’ll one day have a good credit score, and you don’t need to check it each and every day, you might be better off using Borrowell instead.

If you’ve had bad experiences in the past with identity theft, it might be worth using Credit Verify for that feature alone. With the caveat that you might be on your own when it comes to tech support, you need to read the entire Credit Verify terms and conditions, and know what you’re getting yourself into.

Credit Verify review – the verdict is in

Credit Verify does exactly what its name suggests: it lets you verify your credit score. Its services can definitely be useful, especially if you want to know exactly what your credit score is at any given time, what’s causing it to fluctuate, and thanks to its simulator options, what could affect your credit score.

It’s always good to know your credit score, especially if you’re thinking of getting a better credit card or perhaps even getting ready to get a mortgage, but it’s always good to think before spending money on a service like this.

Make sure you take a look at its reviews and take a closer look at its terms and conditions before you decide to use it or not.

FAQ

Is Credit Verify safe to use?

Yes. Credit Verify uses 128-bit encryption making it as secure to use as many banks out there. Credit Verify is legit and not some scam company, although some of its reviews have labeled its business operations as questionable.

How much does Credit Verify cost?

Credit Verify has a 7-day trial that costs $1. It costs $34.95 per month to use after that.

How do you cancel Credit Verify?

According to its FAQ, you CANNOT cancel it via email. It must be done by calling a member of their Customer Service Team, or by mailing a written request to their office via snail mail. From the Credit Verify reviews, you should be on top of your game as previous customers have had difficulty cancelling it.