Narrowing Your Choices for Credit Monitoring Services

Credit reporting services imageOnce the decision is made to look into credit monitoring services, you need to make a choice about which one is right for you. The fact is that not all companies that offer these services are the same; and choosing one means asking the right questions. Questions like, how soon will you be alerted to credit fraud or by which means you will be notified (phone, email, etc.) You want to make sure the company you choose tracks the proper information resources and provides that information to you in a timely, easily understandable, and cost effective manner.

Source of Information for Credit Monitoring Services

Ask where the company receives its information from and how often its information is updated. Credit monitoring services should have access to information from all three major credit bureaus: Equifax, TransUnion and Experian. The information received by each of these companies can vary as they each receive your credit information from different sources. For instance, while a major bank such as Citibank may report your credit usage to all three bureaus, your local department store credit card may only be reported to one. If information is not received from all three companies, important data that could adversely affect your credit could easily be missed.

Satisfaction with Credit Score Monitoring Services

You want to be happy with the credit monitoring service you select. One way to do that is to check for negative reports with the Better Business Bureau. Search online for complaints and reviews about the company you are considering. An important factor is how long the company has been around. Chances are the longer the company has been in existence, the more likely its customer base is made up of happy clients who renew the services every year. Keep in mind though, that no one can guarantee 100 percent results. Identity thieves become cleverer every day. If you feel the company makes promises that seem too good to be true, the chances are that they are.

Costs of Credit Score Monitoring Services

The average cost for credit score monitoring services is between $15 and $20 per month. Some services simply charge one annual fee of approximately $200. When you consider what unauthorized usage of your credit line would cost you, this is a very reasonable price to pay. When investigating monitoring companies, you will probably find that the best of them charge within this range to attract new customers and maintain current ones. Additionally, there should be no hidden expenses. Good monitoring services will tell you up front what you can expect to pay each month. Still, as with any contract, be sure to read the fine print before you sign. Ask before signing if you have any questions.

Everyone deserves the ability to keep their credit in tip top shape. Identity Guard can ensure that you are able to do this, contact them today.