At the very basic, the best credit monitoring service consumer reports keep track of the changes in the credit files of clients coming from the three main credit bureaus namely TransUnion, Equifax and Experian. The companies offering credit monitoring services also keep track of the activities on the credit files of their clients along with the changes in their credit scores. Different activities tracked by these companies include:
- Changes in credit limit
- New accounts
- Large purchases on accounts
- Credit inquiries
- New activity on dormant accounts
- Collection amounts
- All kinds of negative information
- Missed payments
There are certain credit monitoring services that offer clients, a duplicate copy of their credit reports. These companies offer assistance in the management of identity theft helping the clients correct all sorts of fraudulent activities immediately for minimizing losses.
Do You Require Credit Monitoring Services?
Considering the staggering number of different businesses that have successfully been hacked in the recent times, both identity theft and credit card frauds are major concerns that average individuals cannot afford to completely ignore. It is to be noted that it is quite easy for the hackers to steal your personal details through legitimate business transactions any time regardless of the different precautions that you take for keeping your details secure and sage. Despite the fact that you do not possess a credit card, hackers and scammers can easily access your details and open a new account in your name. This can expose you to a huge amount of losses. One identity theft incident and your credit for several months and even years is completely ruined. Therefore, if you are wondering whether you actually need the best credit monitoring service consumer reports then you must quickly come to the decision that YES you need it. Having a trustworthy credit monitoring service in place will help you in safeguarding your personal details and your credit card usage.
Which Credit Monitoring Service Should You Choose?
When trying to evaluate the best credit monitoring service consumer reports, it is necessary to compare your requirements to the different services offered by the credit monitoring service providers. You must always choose a service that indulges in the following actions:
- Calling the companies where fraud took place
- Placing fraud alert on your credit report
- Getting a copy of your credit report for having a look at the problems
- Reporting identity theft to the police and the FTC
- Closing credit card accounts opened under your name
- Canceling all sorts of accounts that have been fraudulently operating under your name
- Disputing charges
- Disputing negative information appearing on credit file
It is always very important for you to make the choice of an all-inclusive credit monitoring service if you want to get a wide assortment of services. You can always expect to get inclusive credit monitoring services from financial organizations, banks and credit bureaus. However, the prices and the features of the services might vary from one organization to another.