The Agencies And Credit Monitoring - Free Credit
Reports
Credit Monitoring - How does it protect you from
identity theft and what service does it really offer? We
have been asked ...
them.
I have been studying these services and learning about
them for many years now. The one question I have is
how can finding...
charge off.
When lenders report to the credit agencies, they are not
obligated to report to all 3 of the national credit
reporting age...
Experian Credit manager and credit check monitoring is
from the last of the big 3 credit reporting agencies.
Experian main...
We are consistently approached by consumers with this
question "I had an alert from my monitoring company.
What does this ...
update, is not being able to see if a collection is reported
on all bureaus. Many smaller creditor's like
Verizon,Doctors,...
Many services offer you the ability to see your report
from all 3 credit bureaus, check and monitor your scores
and setup ...
http://a5a67dwezo3r7x547zjkug7ze7.hop.clickbank.net/
Upcoming SlideShare
Loading in …5
×

The Agencies And Credit Monitoring - Free Credit Reports

116 views
80 views

Published on

Visit http://a5a67dwezo3r7x547zjkug7ze7.hop.clickbank.net/ for more info

Published in: Economy & Finance, Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
116
On SlideShare
0
From Embeds
0
Number of Embeds
9
Actions
Shares
0
Downloads
3
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

The Agencies And Credit Monitoring - Free Credit Reports

  1. 1. The Agencies And Credit Monitoring - Free Credit Reports
  2. 2. Credit Monitoring - How does it protect you from identity theft and what service does it really offer? We have been asked over the past 5 years if Credit Monitoring is worth having and if we can provide this service. Credit Monitoring is a huge business and with scores being so important it will continue to grow. How many times have you seen promotional offers for the opportunity to get free monitoring of your credit profile? It is so confusing for most to even understand their credit reports let alone what the monitoring services provide and how they can help. The information given by these services is difficult to decipher and can sometimes do more to confuse and scare consumers than help
  3. 3. them.
  4. 4. I have been studying these services and learning about them for many years now. The one question I have is how can finding out you are a victim of identity theft or credit card fraud protect you? Once you know you are a victim it is already too late. When you begin to see signs of identity theft on your credit report the damage has already been done. Logically expecting Credit Monitoring to protect you from identity theft would be like studying for an exam after you fail. Identity theft is a process and the last result of it is seeing accounts on your credit report that do not belong to you. These accounts are usually in default with late payments or have gone to the point of collection or
  5. 5. charge off.
  6. 6. When lenders report to the credit agencies, they are not obligated to report to all 3 of the national credit reporting agencies. For this reason, it would be a good idea to get a copy of your report from each reporting agency. This will allow you see what information is being reported to each agency, and spot problems or false information that only one agency is reporting about.
  7. 7. Experian Credit manager and credit check monitoring is from the last of the big 3 credit reporting agencies. Experian maintains the credit information on individual consumers this includes the closed credit accounts, any court activity like bankruptcies and payment history. The credit report in this agency is very important since insurers, employers, and prospective lenders rely on these reports so that they can be given a permission to open an account or if you qualify to be hired as worker or creditor.
  8. 8. We are consistently approached by consumers with this question "I had an alert from my monitoring company. What does this mean?". Credit monitoring companies provide basic updates to you about changes in your credit. Depending on the company hired and the specific program they offer will determine how you are updated and what information they will give you. Some companies only provide you with info about 1 credit reporting agency. Since there are 3 credit reporting agencies Trans Union, Experian, and Equifax this is just a piece of the information needed to really monitor your credit profile. One of the risks you take when hiring a monitoring service, that provides you with only one report
  9. 9. update, is not being able to see if a collection is reported on all bureaus. Many smaller creditor's like Verizon,Doctors,Dentists, and Health Clubs don't want to pay the credit reporting agencies to provide each credit profile with this collection info since they will have to pay 3 times for this service. The result is they typically pay one reporting agency instead of all three and only put the collection on that one credit report. If you have picked the report that isn't updated you will not be aware of this problem until all three reports are pulled. In this case the whole point of monitoring your credit will be lost.
  10. 10. Many services offer you the ability to see your report from all 3 credit bureaus, check and monitor your scores and setup email alerts to alert you of major changes happening to your report or score. You can also get Identity Theft insurance in the event you are the victim of stolen identity.
  11. 11. http://a5a67dwezo3r7x547zjkug7ze7.hop.clickbank.net/

×