MAR 16, 2015
You may have heard of something called “credit monitoring” and wondered if it was right for you. People monitor their credit reports to track improvements in their credit scores, prevent identity theft, and correct errors in their reports.
Credit reports often contain errors. While errors in the spelling of your name may not harm your score, repeated errors in reporting of your payment history may lower your score significantly. Many people have experienced report errors due to identity mix-ups. If another person’s credit history shows up on your report, it may damage your overall score.
People often invest in credit monitoring services to detect identity theft. These credit services provide you with alerts when there are significant changes to your report. This allows you to stop identity fraud in its tracks, limiting the damage done to your credit and your reputation.
A credit monitoring service may provide you with information on who is making inquiries on your credit history. If a company is inquiring and you haven’t made a request for credit, you should investigate the claim. A credit monitoring service may provide you with alerts when too many inquiries are made on your credit. A large amount of inquiries can not only damage your credit, but may also be an indication that someone is trying to manipulate your credit information for immediate gains.
However, before you can totally protect your finances, you have to first know how to accurately read your credit report. Without having the proper directions on how to understand your credit report, you will have a difficult time determining if you have been the victim of identity fraud. CreditReport.com offers a clear breakdown of what exactly is on your credit report, and what information you need to pay special attention to. In addition to this, CreditReport.com provides helpful information that explains what makes a good or bad credit score, and what you can do to improve your credit score over time. For further reading, CreditReport.com features articles on why a 3-in-1 credit report is better than a single bureau credit report, how and why important life events can affect your credit report, and also the relationship between your credit score and the ability to receive proper insurance services. For all of your credit monitoring questions or concerns, CreditReport.com features up-to-date facts and credit articles to help keep you informed and in control of your financial future. Get reliable tips on how to improve your credit score, and let CreditReport.com help ensure that you are protected against the damaging pitfalls of identity fraud. For maximum security, receive your Credit monitoring report with CreditReport.com, and make certain that your finances are safe.