Guide to Credit Monitoring

What is the point of credit monitoring?

The point of credit monitoring is to be aware of any changes in your credit report as soon as possible. It can help to protect oneself against the effects of false items, as well as identity theft.

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Do I need to use a credit monitoring service?

Not necessarily. It is possible to check your credit reports often for yourself, but this might not be the best financial decision if you plan to check often. There are companies that will monitor your credit and alert you of any changes, and their fees might be cheaper than constantly ordering credit reports. Many people also find it more convenient.

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What am I “monitoring” for?

You are monitoring for any unexpected changes. For example, sometimes false or outdated items pop up on credit reports that you will want to dispute. If there is any unusual activity on your report, you may be susceptible to identity theft – certainly this would be better to discover sooner rather than later!

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Will monitoring my credit harm my credit score?

No. Inquiries into your credit made by you will not harm your score.

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What should I do if I find something unexpected?

You should contact the credit reporting agency with any disputes, as well as the original source of the item in question.

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