Credit Monitoring: A Small Price To Pay To Keep Your Credit In Check!
My friend Chris Ann Cleland, who is a Northern Virginian Realtor and an Activerain member, wrote a post about short sales and credit card debt and inspired me to write my post below:
A few years ago, I signed up with TrueCredit to keep an eye on things since my Mom was a victim of Identity Theft. Sad, but true. I helped her pull her credit reports for free to go over what else was going on. Thankfully, she didn't have to pay any monies owed and it didn't take years to get it cleared up.
I pay $16.00 per month with TrueCredit. I have access to the 3 credit reports and all 3 of my credit scores. Some places will charge you $10.00 but that usually does not include the credit scores. I personally feel we shouldn't have to pay to monitor our own financial information but that's just me.
Every month you can update your scores and credit reports. They will notify to via email anytime a change has occurred to your credit report whether it's an inquiry from a current creditor, a new creditor, etc. This is helpful because if someone stole your identity and opened credit cards, loans or mortgages in your name, you will know about it right away and not years down the road.
They even have a Learning Center where you will learn how to dispute your credit report, managing your credit scores, tips for managing finances, kids and money. The list is endless!
It's not just about preventing Identity Theft, it's about monitoring your credit on a monthly basis. It really is a small price to pay to keep your credit in check!
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My experience was not easy as your moms. It did take me more than a year. I now have my credit "locked" and no inquiry can be made to any of the three reporting agencies without my knowledge and concent. It's a pain in the rump when I want to buy something, but worth it when someone else tries to buy something using my good credit score and name.
Hi Tammy, I'm sorry you had such a hard time to resolve it. I think in the beginning, credit lending institutions had a hard time believing that consumers didn't open the accounts themselves. I know it's a pain. My Mom also goes through the same thing but it is worth it like you said :)
Jackie, I have this service with one of my credit cards and it's worth every penny!
Hi Pat, I agree 100%! It's a very small price to pay in order to keep an eye on your credit.
I'm not sure I would want to pay that much attention monthly but as you say, once something happens it's a little late to think about it.
Hi Lyn, it only takes a few minutes per month to check on it. It's worth it :)
Jackie, you are so right!
One of the things I do on a regular basis is write credit articles for a client who has a "free credit report" site - and in order to do that I read a lot of credit sites.
What I've learned is that identity theft is BIG business and those folks are constantly coming up with new ways to steal your identity. By keeping an eye on your report on a monthly basis you can nip problems in the bud before they ruin your credit or drain your bank accounts - or both.
Keeping track of your credit score is important too - because you might be surprised at the innocent things you do that can harm your scores. Watch the scores and read the "reasons why" they are what they are. Then take action. You never know when you might want to use your credit and poor scores will cost you money.
Hi Marte, keeping an eye on your credit will make your life easier. You can catch things sooner rather than later.
Jackie - Thanks for the info, I have been considering paying for the credit monitoring and you might have talked me into it.
Hi Carol, You are welcome. It's always good to see what is going on.