By Rochelle N. Belnap, The Arizona Credit Law Group, PLLC
Credit monitoring is great, and these days it is important. Credit monitoring allows you to access your credit information with Equifax, Experian, and Transunion. This way you can become familiar with what’s on your credit report and spot potential problems.
Credit monitoring alerts you about “new” activity. For instance, when you apply for credit, receive a credit limit increase or decrease, or close an account, etc. credit monitoring will highlight this activity for you to review. This information is useful to protect yourself against identity theft or mixed file issues.
If someone uses your information to open an account in your name, it will appear on your credit and your credit monitoring service will alert you about the new account. Alerts are also helpful to identify when someone with a similar name has credit information that appears on your credit report by mistake.
Credit monitoring does not prevent mistakes or identity theft, and it does not correct or fix these problems. Credit monitoring is just allowing you to monitor your credit so you can be more aware.
The best free monitoring service available right now is www.creditkarma.com. It gives you unlimited free access to your Transunion and Equifax credit information and scores. It does not hurt your credit to use credit monitoring.
For business owners, you can monitor your business and personal credit through www.creditera.com.
Credit is complicated, but if you ever have questions you know who to call!
Thanks for reading!