How do credit monitoring services work?
If you suspect that you’re vulnerable to identity theft (You’ve lost your wallet, had a home robbery, or someone’s hacked into your bank account), enrolling in a credit monitoring service can help you detect unauthorized activity on your accounts. Typically, these services charge a monthly membership fee and provide the following benefits : • Notification of suspicious or irregular account activity • Unlimited access to credit reporting by one or more of the three major consumer reporting agencies • Access to your credit scores • Identification of those requesting information or reviewing information contained in your credit reports Credit monitoring can be helpful in preventing identity theft, and assists in identifying and correcting errors on your credit reports that can negatively impact credit scoring. If you have bad credit, periodically reviewing your credit reports scores can assist with managing debt and improving your credit.
