How does a credit watch service work, and are there significant differences between the three major services (Experian, TransUnion, Equifax)?
All three work basically the same, but it should be noted that each bureau only notifies you when there has been a change on their credit report. 57. When an organization offers a free credit watch subscription in response to a breach that may have affected a consumer, is the service different than what he or she would receive if they subscribed on their own? Monitoring may give the victim of the data breach a false sense of security. Again, the bureaus do nothing to actually stop the crime before it happens and do nothing to help after a person has been victimized. They only provide quick notification of a change, nothing more. 58. What is the consumer’s responsibility once a credit watch service is initiated? Is it a “turn it on and it works” proposition, or must the service be actively managed by the consumer to have any real effect? The burden is on the consumer. They must check the credit report after they have been notified of a change and then they are responsible for cleaning u
Related Questions
- Credit watch services have come into prominence thanks to the many breaches that have been publicized. What exactly is a credit watch, and what benefit does such a service offer the consumer?
- How does a credit watch service work, and are there significant differences between the three major services (Experian, TransUnion, Equifax)?
- Are there any differences between signing up for Experians credit monitoring service online or over the phone?
