Credit Monitoring Service:
If you are the type of person that is concerned about your credit, then you will likely want a credit monitoring service. The benifits of a credit monitoring service; A credit monitoring service will keep a constant eye on your credit report to detect fraud. If you have been a victim of credit fraud, you know how important this is. Most people check their credit report once a year - or, more often, not at all! Since it can take up to a year to detect credit fraud, using a credit monitoring service can help to protect you from identity theft.
Sign up for a Credit Monitoring Service.
What you should know about credit monitoring services:
Many people are concerned about credit monitoring services and how safe they might be. All of the credit monitoring services are owned by trusted corportations that must keep their integrity to stay in business. All of these companies use strong encryption as well, to help protect your identity. Preventing identity theft is what keeps them in business, thus, they can only help you in this regard.
People are also concerned when they sign up for a credit monitoring service, in that a large amount of personal information must be given to the company through a web form. Again, this form is encrypted to protect your information, and the credit monitoring service already has all your information - including your social security number amongst other details. The reason they ask so many questions is that they want to be certain you are who you say you are - after all, they are in the business of preventing identity theft.
Another common concern is that signing up for a credit monitoring service will hurt your credit. This is not a worry however. When someone other than yourself checks your credit, it is known as a "hard pull" this leaves a minor mark on your credit report. However, when you check your own credit (or a credit monitoring service does on your behalf) the industry calls this a "soft pull" on your credit. A "soft pull" does not leave a mark on your credit report as the reporting agencies understand the need for you to check your own credit score.
When someone attempts identity theft - you may not be immediately alerted when your credit is checked, that is, if someone impersonates you and tries to buy a new boat. The reason for this is that there are 3 credit reporting agencies, Equifax, Experina and Trans Union. You will only be alerted if the boat sales checks the same credit reporting agency as the one you use. However, as soon as any acutal purchase goes through, you will be alterted.
Sign up for a Credit Monitoring Service.
What do I get with this credit monitoring service? The above credit monitoring service includes the following:
- $25,000 identity theft insurance and fraud resolution service.
- Toll free customer support, with a real human being.
- Access to analysis tools and reports to help you manage your credit.
- Weekly emails for fraud alerts.
- The ability to see new inquiries into your credit, late payments and many other details.