Everyone is concerned about identity theft these days, and one way people are working to combat it is with credit monitoring services.
California (OPENPRESS) February 17, 2012 - Everyone is concerned about identity theft these days, and one way people are working to combat it is with credit monitoring services.
But why sign up with a company in order to monitor your credit? Some of the reasons include:
• Security - Most companies that offer this service offer security alerts that come in the form of e-mails as soon as a problem is detected.
• Reports - Credit monitoring services also offer monthly reports that show you what's going on with your credit, including your credit scores.
• Credit repair - Credit monitoring services offer you the option of being able to view your credit information and work to correct any errors or fraudulent entries.
Credit monitoring services work like this: You sign up and pay either a monthly or annual fee, and in return, your credit is monitored for any fraudulent or unusual activity. This is done by monitoring your credit reports with each of the three credit reporting bureaus - Equifax, Experian and TransUnion.
But it should be noted that credit monitoring is not foolproof. Services generally monitor only your credit reports with the three bureaus, and therefore any other activity that happens anywhere else will not be detected.
But if you are concerned about the possibility of becoming a victim of identity theft, or even if you just wish to keep a close eye on your credit, a credit monitoring service can be a useful tool.
When shopping for a credit monitoring service, be sure you read the fine print, particularly when it comes to payment for services and cancellation policies. You should also pay close attention to exactly what services the company offers, so you know exactly what you're paying for.
Since credit monitoring is not foolproof, it would behoove you to take action yourself to help prevent credit security issues. One of the simplest things you can do is to not respond to unsolicited e-mails requesting personal or financial information.
Another simple tool to help protect your information is shredding. Throwing documents away after tearing them up is not enough. Shred anything that bears your personal or financial information before you dispose of it.
Last of all, guard your passwords on all your online accounts and e-mail, and make sure to change them frequently. Make your passwords difficult to figure out, and don't use birth dates or repeated numbers. The harder you make it for a criminal to steal your identity, the less likely you'll fall victim.
