Reviewed: The 7 Best Credit Monitoring Services
Last Updated: July 18, 2017 by
Millions of Americans experience some form of identity theft every year. Being the victim of identity theft can result in not only financial hardships, but emotional stress as well. It can ruin your credit, cause you significant monetary losses, and result in legal problems. Credit monitoring is the first step in catching and stopping identity theft before it becomes damaging.
As a member of a credit monitoring program, you will be immediately notified if an account is opened in your name. This adds an extra layer of security between you and becoming a victim of fraud. Some services allow you to freeze your credit to prevent anyone from opening up a new account.
Credit monitoring isn't just about preventing identity theft, though. It can help you gain a better understanding of your credit score. Knowing exactly what is negatively affecting your credit puts you in a better position to correct course. It can help you integrate a strategy to increase your score.
Most credit monitoring services provide you with a credit score from all three bureaus. Knowing your credit score can help you plan your finances in advance. You will no longer have to chance damaging your credit score by applying for a loan you cannot be approved for. Instead, you will know your approval odds before you start the application process. Important notice: When you click links from this website, we may receive advertising revenue.
Transunion is a widely known credit bureau. You can use their website to pull your credit report and view your credit score. They also provide a simple process for disputing any inaccuracies that may be negatively affecting your score. To reduce the possibility of identity theft, they offer credit monitoring and identity protection services. The website itself is well-laid for simple navigation.
LifeLock can help reduce the possibility of you ever becoming the victim of identity theft. For those already affected, it can help you recover from the damages and restore your good credit rating. To do this, they provide a range of identity protection services. This includes credit monitoring, alert notifications, identity theft insurance, and recovery plans. They also offer stolen funds reimbursement and personal expense compensation.
Credit Karma is a free, easy-to-use website to obtain two of your Vantage credit scores: Transunion and Equifax. They also provide credit monitoring to help you spot early warning signs of identity theft. The website has a clean user interface that makes it simple to navigate. Upon logging in, you will immediately be presented with your credit scores. These scores are updated every seven days. Many other websites only update your scores once a month.
PrivacyGuard offers members a variety of fraud protection services. These include credit monitoring, identity theft recovery plans, suspicious activity alerts, and more. On signup, members are provided a credit report from all three bureaus and credit scores. An updated report and scores are provided every month. To protect your identity, it monitors your social security number, bank accounts, and public records. Members who are the victim of fraud are provided with one million dollars in identity theft insurance.