Credit Monitoring Services

June 18, 2009

By Mike Wayman

Credit monitoring is an effective way to avoid identity theft and also an effective way for a consumer to maintain and improve their credit themselves. Credit monitoring allows a consumer to receive regular credit report updates, meaning, credit reports are mailed or emailed to you on a regular basis and when anyone applies for credit utilizing your personal information you are immediately informed. Utilizing credit monitoring services is highly advisable as it allows you to quickly ascertain if your identity has been stolen or if your creditors are falsely reporting information to the credit bureaus that may damage your credit. This allows you to dispute inaccuracies reported to the bureaus quickly and efectively.

While this service is very useful, some people have turned the credit monitoring service in to a scam. Here’s how it’s done on the most offensive scale: A credit monitoring company contacts you and explains the benefits of credit monitoring. You pay for the fees and provide the necessary information including, but not limited to your social security number, address and perhaps even the maiden name of you mother. This is everything these scammers need to acquire credit in your name and steal your identity.

The other scams are less complex for example taking your money and never providing the service or simply taking your money and registering for credit monitoring on your behalf at the three credit bureaus. Of course this last strategy will give you the intended results, but it’s something you can do on your own.

You can take advantage of credit monitoring safely and easily by contacting the three credit bureaus yourself. Their customer service representatives will explain your options if you need them to but you can apply for credit monitoring directly at the three main credit bureau’s websites.