| Have you heard of credit monitoring? It is a service | | | | benefit you because you will be notified right away |
| that reporting agencies offer to you. The service is | | | | when negative activity is reported on your report. |
| quite straightforward. For a fee, they will monitor your | | | | How Credit Monitoring Can Rip You Off |
| credit for you to insure that nothing strange appears or | | | | It is true that such a service can be helpful, but |
| that nothing out of the ordinary reduces your score. Is | | | | monitoring is very expensive, up to $150 per year in |
| an investment in such a service worthwhile? | | | | some cases. This money can be used to help reduce |
| How Credit Monitoring Can Benefit You | | | | credit card debt instead. If you are net savvy, then |
| First of all, monitoring does do something that has | | | | your credit report is a few keystrokes away. All of the |
| become necessary with the advent of different types | | | | major reporting agencies can be found online and can |
| of credit fraud. Any consumer, anywhere that uses | | | | tell you're what your report looks like. |
| credit needs to monitor their score and report. It is | | | | Also, in the United States, as of this year, you are |
| necessary because at any time a negative item is | | | | provided a free credit report each year from the credit |
| placed on your report it can be very detrimental to | | | | reporting agencies so that you can monitor your credit |
| your future credit needs. Those who commit such | | | | history. This free product may not be enough, but it is a |
| fraud do not necessarily need your social security | | | | start. You should check your report often and know |
| number or other personal details. It all depends on | | | | what is on it. Ideally, you should check your report |
| where they use your card information. | | | | every 3 months. If you are going to be making any |
| It is important to know what's on that record and it is | | | | large purchases e.g. a new house, a new car you |
| important to know how it got there. The longer it goes | | | | should get your report a couple of months in advance |
| without being disputed, the more 'real' it looks in the | | | | so that you can clear up any negative items in time to |
| eyes of the law. In this way, monitoring really can | | | | get the best deal on your purchase. |