Credit Management

Understanding Credit Management

When it comes to credit management, there’s a lot more to it than just making sure you don’t overspend – or allowing your spouse or child to overspend. There are more factors to consider when you sign up for a new credit card, such as:

• What’s the annual percentage rate on the card?
  
• How is the minimum payment calculated?
  
• What’s the grace period on payment?
  
• Does this company provide credit protection services?
  
• What about ID fraud protection?

The most important factors listed above are credit protection and ID fraud protection services. Why? Because you have control over the credit card you choose. You have control over how much you choose to pay off – and in how much time. It simply requires being smart about which card you choose. You can do the research to make sure you find the right card for you.

But when it comes to identity protection and credit monitoring, you are at the mercy of theft. The only way to protect yourself is by taking advantage of choosing the right online credit protection service. CreditReport.com/Monitoring offers comprehensive online credit monitoring, so you’re instantly notified via email if you’ve been robbed of your identity.

Consumer Credit Protection

Do you really need a credit monitoring service? Yes. It’s no longer just an “extra“. It’s no longer a feature. It’s a necessity. In fact, you will find that the major credit bureaus all offer their own protection services. Experian monitoring, Equifax monitoring, and TransUnion monitoring were all created because ID thieves have become more creative and more sophisticated, and identity theft in general has become much more rampant.

Identity theft is the No. 1 source of complaints to the Federal Trade Commission. Over 255,500 people reported being victims of identity theft in 2005, up from 247,000 in 2004. The Federal Trade Commission reports that identity theft cost consumers $5 billion and 300 million hours and affects approximately 10 million people in the United States each year. (Visit www.ftc.gov for more statistics and important credit protection information.)

Credit Monitoring

Think of credit monitoring the same way you think of the gas gauge in your car or truck. You must check that gauge every so often, just to make sure you don’t run out of gas. It’s similar with monitoring credit. You might not be as likely to monitor credit reports if you’ve checked yours recently, but after a couple of months you will need to make sure your record is intact. And not unlike that gas gauge, you also need a warning if something is happening – which is why ID fraud protection and online monitoring are key. Monitoring services provide more than just a read-out, telling you everything is secure – they give you peace of mind. In fact, a monitoring report arriving monthly allows you to not even look at that gas gauge. You’ll know if something is wrong instantly.

You can protect credit quickly and easily by visiting CreditReport.com/Monitoring. This is a one-stop resource for monitoring and identity protection.

The problem of identity theft is growing everyday, which is why identity protection is critical – and why more and more Americans are employing the services of credit monitoring and online credit protection services.

Why do you need ID fraud protection? An identity thief gets your personal information several ways. They are as follows:

• Stealing records from a place of business either by hacking the information, conning employees, or paying off a current employee
  
• Stealing your mail, including bank or credit card statements, card offers, checks and tax information, and even the mail you leave for the postman
  
• Rooting through your trash or the trash of businesses
  
• Posing as a landlord, employer or card company on the phone or through the mail
  
• Stealing your wallet or purse
  
• Completing a “change of address” form to have your mail sent elsewhere

Identity thieves are becoming more and more creative all the time, so ID fraud protection is vital. Not just to protect your credit and your assets, but to keep a peace of mind. Using the latest monitoring reports through online protection services, you can become instantly alerted if there is a significant change in your credit report. Some sites like CreditReport.com even offer monthly monitoring reports – so you’re always in the know.