Why You Need to Monitor Your Credit Report

Monitoring Your Credit Report has become the 'norm'.

Credit Report monitoring will assist you with 'nipping it in the bud'. The cost to you far outweighs the long-term headache you'll experience if your identity is stolen.

What Can You Do to Keep Your Personal Information Safe?

In general, you should consider obtaining copies of your credit report from the three major credit bureaus about once a year to verify information is correct. Professional Monitoring services will frequently (even daily) monitor your credit report for possible signs of fraud or theft. These services don't necessarily prevent identity theft from happening, but they will alert you to changes in your credit file that may indicate identity theft.

Monitoring Services are inexpensive. The advantage of a Monitoring Service is two-fold. You don't have to spend the time in manually monitoring your credit report yourself and you don't have to pay the cost each time you request your credit report.

With a Monitoring Service you can set up your account to receive daily Email Alerts.  The daily Email Alerts will list suspicious activity, and you can act on it immediately. If you personally pull your credit report once a year, the damage can already been done - damage you may be unaware of. You want the advantage of catching the culprit or inaccuracy quickly, while it's still minor enough to repair.

• Contact creditors to discuss questionable items and close accounts that you believe are fraudulent or have unauthorized transactions.
• Call the fraud department at each of the major credit bureaus to ask that a "fraud alert" be placed in your file, so that lenders will be alerted to the fact that you may be a fraud victim. Ask that the fraud alert state that you do not want new credit extended without contacting you first.
• Contact the local police to file a report. Keep a copy in case you need it later as proof of the crime.
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  Consider filing a complaint with the FTC. They will store the information in its database so that it can be accessed by law enforcement agencies worldwide. The FTC also can provide information on what steps victims should take and sometimes will refer cases to other government agencies or private organizations for further action.

Why Should Your Credit report be Monitored?

What to Look For in a Credit Monitoring Service

• Changes in Employment: Credit Reports track your employment. If an employer appears on your report, and you don't recognize them, you'll want to investigate and dispute immediately.
   
• Change of Address: Each time you move to a new address, a new entry is placed on your credit report. Current and past address information remains on your credit report. If an address appears you aren't familiar with, then you'll want to dispute that information with the Credit Bureaus.
   
• New Accounts Opened: If you've opened a new credit account, it normally appears on your credit report within 30 days. If someone has opened or has tried to open an unauthorized credit account using your name, you want to know about it.
   
• Changes In Your Credit File: Your credit report data changes regularly according to what active creditors are saying about you, according to the amount of credit versus debt that you have, and according to changes in your life status (such as marriage or divorce). You want a monitoring service that catches changes you’re not expecting, as well as those that you are.
   
• New Inquiries: Many companies will look at your credit report when considering you for credit. This includes pre-approved credit offers as well as inquiries during the course of opening a new line of credit. If creditors are making inquiries and you don't recognize their name, then you want to investigate immediately.

Know Exactly What You're Signing Up For

The FTC :
Federal Trade Commission can Assist with Credit Report Errors

Credit Bureaus:

Equifax Information

Trans Union

Experian