It can be very useful to understand how credit monitoring helps with credit protection. And while the term "credit monitoring" is pretty self-explanatory, understanding how credit monitoring works and the differences between credit monitoring services can go a long way in helping ensure that you select the right credit protection for yourself.
Credit monitoring is the term for regularly checking your credit report for changes. Whenever you or any other person takes an action regarding your credit, this activity will likely be recorded onto your credit report. The culmination of all these credit actions are then compiled and included on your complete credit report. Whenever you apply for a new credit card, seek a new loan or even apply for some types of insurance, the company you are dealing with will review your credit report as a way to gauge your credit risk and determine whether they would like to do business with you. If someone gains access to your personal information, he or she may pose as you to get credit in your name. Of course, the perpetrator has no intention of paying the money back, and your credit suffers as a result.
Credit monitoring helps provide protection against the misuse of your credit by alerting you of certain changes that appear on your credit report. Not all of these changes will necessarily indicate that your credit is at risk. These could be actions initiated by you or on your behalf, such as when you apply for a new credit card or set up a new cell phone or utility account. On the other hand, the change could be the result of inaccurate information being reported to the credit reporting agency or, in a worst case scenario, someone trying to steal your credit. Whatever the case, credit monitoring can alert you when certain changes occur, enabling you to assess whether the change is legitimate, and if not, take the steps needed to rectify the situation.
Of course, reviewing your latest credit reports throughout the year is also an important factor in credit protection, as not all the information in your credit report is — or necessarily needs to be — monitored for changes on a regular basis. So you should review it regularly to ensure that your entire report is accurate and up to date, since inaccuracies could inhibit your ability to get credit should the need suddenly arise. But with credit monitoring, you can stay up to date on many important changes without the need to request and review a new credit report every day.
Each day, FreeScoresAndMore's triple-bureau credit monitoring scans your credit files at the three national credit reporting agencies — Equifax, Experian and TransUnion. Monitoring all three credit agencies for changes with triple-bureau monitoring is important because each agency operates separately from one another, and the information they receive and include in your credit report could be different. As such, it's possible that a particular change may only show up on one of your three credit reports. With FreeScoresAndMore's triple-bureau credit monitoring, you can help ensure that you keep track of these changes regardless of which of the three credit reporting agencies are recording them. See details.
Should FreeScoresAndMore spot a monitored change on any of your national credit files, you are quickly alerted and provided the resources and personal support you need to assess the change and quickly rectify it, if necessary.
For your security, simply complete the authentication process on the website after you enroll in FreeScoresAndMore. You cannot access your Credit Report and Scores or start your Credit Monitoring and Alerts until you verify your identity.
It takes a certain kind of change to trigger a credit monitoring alert. FreeScoresAndMore's credit monitoring informs you of new inquiries, certain derogatory information, new accounts opened, public records added to the credit file, or a change of address. Changes like these shouldn't happen without your knowledge, and if such a change occurs and you did not initiate it, it usually indicates one of two things — either some inaccurate information has been posted to your credit report, or someone may have gained access to your credit information. Whatever the reason, FreeScoresAndMore is there to help you understand and address it.
Monitoring your credit daily is only one of the ways FreeScoresAndMore helps with credit protection. You also can receive your latest triple-bureau credit report — and the VantageScore credit scores associated with each — every month. That way, you can view your report in its entirety throughout the year, which is essential for spotting and correcting any inaccuracies for things that are not being monitored. In addition, FreeScoresAndMore tracks your VantageScore credit score and alerts you of major fluctuations that could indicate either identity theft or a major occurrence on your credit files. See details.
For your security, simply complete the authentication process on the website after you enroll in FreeScoresAndMore. You cannot access your Credit Report and Scores or start your Credit Monitoring and Alerts until you verify your identity.
FreeScoresAndMore places all of its valuable credit protection services right at your fingertips. Best of all, you can try FreeScoresAndMore's credit protection — and the rest of FreeScoresAndMore's many benefits — right now. Sign up today, and enjoy a whole new level of credit protection today.