In today’s complex financial world, everyone needs a little extra assurance that their credit rating and reputation are secure. That’s why credit monitoring has become an important part of many people’s sensible financial strategy. But before you sign up for a credit monitoring service there are a few things you should know.
- Comprehensive credit reports are critical. Tracking all three credit reports is the cornerstone of good credit monitoring. Since different credit reports may include different information, it’s up to you to keep a constant eye on all of them.
- Life events. Your financial life is constantly shifting—you buy a house, get married, get a new credit card, or go on the hunt for a new vehicle. All of these changes can impact your credit score or alter your credit history. Credit monitoring empowers you to examine how these changes impact your credit.
- Identity theft protection. Since modern life requires many financial transactions, our personal information sometimes falls into the hands of unscrupulous or unethical individuals. Credit monitoring alerts you of any suspicious activity on your credit report.
- Discriminating eyes. It’s become increasingly difficult to self-monitor credit reports. Since there are so many things that can go wrong, it’s easy to overlook potential problems. Credit monitoring services provide an extra set of trained eyes skilled at spotting issues on your credit reports.
- Financial planning. Credit monitoring keeps your ever changing financial life on the front burner so that you can plan for the future. It’s no longer enough to check your credit report once a year. By keeping an ongoing account of your credit you can set reasonable goals and reach them.
- Extra help. The best credit monitoring services don’t just deliver information about your credit report, they help you resolve issues.
- Instant alerts. One of the best things about credit monitoring is that alerts are sent to your phone or email as soon as a problem arises. This instant alert system gives you the power to react immediately to any suspicious activity.