The financial world today is fraught with pitfalls. One of the biggest issues is your credit score. Lenders — and others — check your credit score regularly to see what sort of default risk you present. Your credit score is largely based on the information that is reported to the major credit bureaus, so it is important that the information be accurate. On top of that, it is important to keep tabs on your credit history so that you can catch possible instances of identity fraud.
While it is possible to monitor your credit on your own, with help from annualcreditreport.com and sites that provide free credit scores, some people prefer to have the convenience of a credit monitoring service. If you are interested in having your credit monitoring, you should be careful to ensure that you are getting a good deal.
For the most part, credit monitoring services provide similar options. The most basic packages should do the following:
There are other credit monitoring services such as monitoring your bank accounts and monitoring public records to keep you up to date on what is happening in your name. These types of services often cost more, and you should carefully weigh the cost and benefit of purchasing them.
Before committing to a credit monitoring service, it is important to do your research. You want to find a service that will help you reach your credit goals and be aware of potential identity theft. Think about what you want in a credit monitoring service, and then begin comparing different plans from various companies. Some basic things to look for as you evaluate credit monitoring services include:
You should also take the time to search for customer reviews online. A search of the name of the company plus the word “reviews” should yield you plenty of information. Check with the Better Business Bureau as well. If you do some research and comparison shopping you should be able to choose the best credit monitoring service for your needs.
Here are some credit monitoring services that we recommend. These services will also give you instant access to your credit scores when you successfully enroll.
|TransUnion: Credit monitoring for $9.95/month with one-time 3-Bureau credit report and score. Unlimited updates on your TransUnion credit report and score. Email alerts of critical changes to your credit for all 3 bureaus. And more.|
|700 - 750||Good|
|640 - 700||Average|
|580 - 640||Poor|