Credit Monitoring Vs. Identity Theft Protection
You know you need to protect your accounts and personal information – but what is the best method? Should you use a credit monitoring service or subscribe to identity theft protection instead? What's the difference between the two methods?
Credit monitoring services do exactly what they say they do – monitor activity on your accounts with the major credit reporting agencies (TransUnion, Experian, and Equifax). Creditors report all activities related to borrowing money, including your payment history, to credit reporting agencies. Monitoring services may monitor your history with all three agencies or be exclusive to a certain agency.
With credit monitoring, you're alerted to various changes in your credit report – for example, when a potential creditor asks for your credit history or when new credit card accounts or loans are opened in your name. Any activity that is reported to the credit reporting agency is monitored.
However, identity theft can invol...
from MoneyTips https://ift.tt/2HPx5wP
Comments
Post a Comment