Credit Alert FAQs

1. How will I be alerted if there is activity on my credit bureau file?

You have the choice to receive alerts by email, by text message or both.

2. I’ve received an alert about changes to my credit file. What do these alerts mean?

CreditDefend monitors your credit file from Equifax Canada Inc. every business day and promptly alerts you to any new inquiries for credit so you can act quickly, should you suspect fraudulent activity. In addition, we also monitor your Equifax credit file every business day to alert you when any of the following items is reported by the financial institutions:

Address Change: To alert you if the address on file is reported as changed.

New Inquiry: To alert you if a lender has obtained a copy of the report in order to evaluate an application for credit made in your name.

Name Change: To alert you if there has been a name change registered to your credit file. This is indicated by a change in the last name or first character of your first name.

New Trade added: To alert you if a new debt obligation has been opened in your name within the last three months since you registered for monitoring services.

New Collection Item: To alert you if a debt obligation has been classified as in collections for an amount of at least $200. This amount can be paid or unpaid or both.

New Bankruptcy added: To alert you that a bankruptcy has been added to your credit report during the last four months. This is important as bankruptcies will lower your credit rating and your eligibility to borrow at favourable interest rates in the future.

Derogatory added: To alert you of a foreclosure, judgment or garnishment public record within the last three months.

3. Why am I being notified when there has been no activity on my credit file?

This notification tells you that even though there is no activity on your credit file, we continue to monitor your credit bureau file on a daily basis. Think of it as “no news is good news!”

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