Defining a credit monitoring service is pretty straightforward‚ their programs review credit files for certain changes that could indicate fraud; but pinning down the myriad benefits of a credit monitoring service is a little more complicated. Some can only alert you to potential fraud taking place in your name‚ while others offer assistance in helping you resolve problems resulting from identity theft should it happen, and still others offer more robust features.
Are all credit monitoring services created equal?
The answer to this question is "hardly"‚ but it also depends on how much you ask of your credit monitoring service and what benefits you are looking to reap. Credit monitoring companies function by monitoring credit files from one or more of the three major bureaus that document your credit history.
While you can request a copy of each of these credit reports yourself for free annually‚ a credit monitoring service can monitor your credit files constantly. And if you're only checking out one credit report at a time you might miss something. Each bureau calculates your credit score differently and depending on how often creditors report information, they can paint somewhat varying pictures of your financial standing. That's why it is best to go with a service that keeps track of all three just in case one report shows signs of identity theft that another may have missed.
What are the sure-fire signs of a good credit monitoring service?
When picking a credit monitoring service‚ do your homework before signing up for anything. You'll want to go with a company that has established their reputation through years of service and is a name you can trust. To determine this‚ check in with the Better Business Bureau or customer review websites to see the company's standing. And if a service seems to be offering more than they can actually deliver‚ this is probably the case. Shop around and make sure you choose a program that will work hard for you.
If you’re ready to start researching credit monitoring companies learn more about Identity Guard. With our variety of products, we specialize in helping people help protect themselves from identity theft. From a comprehensive credit monitoring program to a personal privacy protection plan, Identity Guard can help you find the right service to fit your needs and lifestyle.