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What is Credit Monitoring?
Credit monitoring is, simply put, the act of closely watching your credit report for changes, such as
inquiries made (a company accessing your credit report - lender, creditor, insurer etc.),
or checking for signs that you have opened a new account... These are just some of the
things that you should watch for, there are more which the Credit Monitoring Service can help you with.
What is the importance of Credit Monitoring?
Monitoring your credit report is very important, as it can change daily when lenders report your information
to the "big three" credit reporting agencies (see left navigation for info on each of these companies).
Not to mention the fact that identity theft is becoming more and more common, it's very important to check
your on a regular basis for signs of identity fraud or theft.
A good credit monitoring service
automatically checks your credit report on a daily basis and notifies you by email of any important
changes that are detected. This is a key benefit when trying to fight or prevent identity theft, and to
recognize mistakes on your credit report immediately so you can start working on correcting them right away.
Early detection is vital here, and the credit monitoring service can help you with this.