The Beginner’s Guide To Choosing The Best Credit Monitoring Service

Data breaches have become very rampant. Now more than ever, hackers have been infiltrating big companies and compromising or stealing confidential information. With the rising hacking, it is possible that you, or someone you know has been affected. When you have important financial data on the internet, you probably understand how important it is to keep it protected. From observing your credit report, you are able to keep your finances safe from risks such as identity theft and credit card fraud. 

If you want to be fully in control of your credit card, then you need to ensure that you know about your credit score. A good credit score holds a massive role in your current financial position. It affects your ability to purchase a new home, or even take out a major loan. 

In addition, when you are constantly monitoring your credit score then you are able to respond as soon as possible In case of a data breach or identity theft.

If you are unable to stay on the lookout when it comes to your credit score, then a credit monitoring service is the way to go. You can check for some of the best credit monitoring services in 2022. This also helps with providing you with extra protection. The services keep track of your accounts and alert you whenever your Social Security number is used elsewhere to open a line of credit. This helps to steer you away from possible fraudulent activities.

You have plenty of options to choose from. Offers you get might include a free credit card report with amazing services such as flagging suspicious activity, basic monitoring, as well as identifying and baring unauthorized use of your Social Security number. 

However, how do you determine which service is the best for you? Below are a few tips you could consider. 

1-Bureau vs 3-Bureau Monitoring

One of the big factors to look at when a credit card monitoring service is the number of credit bureaus they monitor for you. Usually, the most common options include 1-bureau monitoring and 3-bureau monitoring. In the US, there are 3 main credit bureaus which include Experian, Equifax,  and TransUnion. 

For instance, if you are making a major purchase such as a car, your sales person uses a hard inquiry to pull your credit before opening the car loan in your name. In this case, the car dealership only reports the newly opened line of credit for your car loan and the hard credit inquiry. 

While the information is later related to all three major credit bureaus, in the pre

present, it stays with the one that it was reported to. On the other hand, signing up for 1-bureau credit monitoring only notifies you of suspicious activity weeks after it has already happened. When signed up for a 3-bureau credit monitoring service, you are notified as soon as the initial credit bureau updates the information. 

A 1-bureau monitoring credit service might not be the most efficient given that information is relayed weeks after possible unauthorized activity occurs. This means that by the time you receive the information, damage has already occurred. 

With a 3-bureau credit monitoring service, you are completely protected when compared to its counterpart, the 1-bureau credit monitoring service. While the latter might be more affordable than the first options, it will not provide you with the ultimate protection you are looking for.

Identity Theft Protection

You can be sure to encounter identity theft protection when trying to find a reliable credit monitoring service. Identity theft protection comes with incredible features which pair up well with credit monitoring services. This is because both systems are able to inform each other. For instance, they are characterized by items such as Social Security number tracing as well as dark web scanning. In addition, they may include insurance plans geared towards relief benefits during stressful situations. 

Winding Up

After establishing what you need for a credit monitoring service, you need to select a brand that you trust. Cheap is not always the best option, in fact, it might be more frustrating than you know. While you might get a ridiculously good offer, it is more important to find a credit monitoring service with a positive track record. This way, you know that they will deliver as promised since they have already delivered in the past. 

You will be handing over your personal information with very sensitive data, the last thing you want is to share it with an untrustworthy company. When the credit monitoring service you are working with is authentic, you are assured of confidentiality. 

Michael Caine

Michael Caine is the Owner of Amir Articles and also the founder of ANO Digital (Most Powerful Online Content Creator Company), from the USA, studied MBA in 2012, love to play games and write content in different categories.