{"id":46401,"date":"2021-02-02T10:53:35","date_gmt":"2021-02-02T18:53:35","guid":{"rendered":"https:\/\/www.credible.com\/blog\/?p=46401"},"modified":"2024-09-06T06:07:13","modified_gmt":"2024-09-06T13:07:13","slug":"credit-monitoring-services","status":"publish","type":"post","link":"https:\/\/www.credible.com\/blog\/personal-finance\/credit-monitoring-services\/","title":{"rendered":"Credit Monitoring: Why You Should Get a Credit Monitoring Service"},"content":{"rendered":"<p>Your credit scores play a major role in getting approved for credit cards, mortgages, and more. One option to help you keep on an eye on your credit \u2014 and even improve it \u2014 is Credible&#8217;s marketing partner Experian\u00ae.<\/p>\n<p><a name=\"experian-boost\"><\/a>Unlike other services, Experian lets you add your cell phone bills, utility bills, and even some streaming service payments to your Experian credit file, which could instantly raise your FICO\u00ae Score<a href=\"#disclosure2\"><sup>+<\/sup><\/a><a name=\"experian-boost\"><\/a>.<\/p>\n\n<table id=\"tablepress-494\" class=\"tablepress tablepress-id-494 table table-border-top table-rounded table-no-img-margin table-capitalized-column-titles tbody-has-connected-cells\">\n<thead>\n<tr class=\"row-1\">\n\t<th colspan=\"2\" class=\"column-1\"><span style=\"font-size: 16px !important; max-width: 10px;\"><center>Raise your FICO\u00ae Score with Experian Boost\u2122<sup>*<\/sup><\/center><\/span><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr class=\"row-2\">\n\t<td class=\"column-1\"><center><img decoding=\"async\" src=\"https:\/\/www.credible.com\/blog\/wp-content\/uploads\/2021\/01\/Experian-BM-TM-RGB.png\" alt=\"experian boost\" width=\"100\" class=\"alignnone size-full\" \/><\/td><td class=\"column-2\"><div id=\"simple-cta-credit-monitoring-variation-visit-experian\"><\/div><\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\"><strong>Perks of using Experian Boost<\/strong><\/td><td class=\"column-2\"><ul><li>Most people see an instant increase to their FICO\u00ae Score with Experian Boost.<\/li><li>On average, people instantly raise their FICO\u00ae Score by 12 points with Experian Boost.<\/li><li>Free, no credit card required.<\/li><li>Get credit for the utility bills you\u2019ve been paying all along.<\/li><li>Streaming subscription payments can now boost your credit scores.<\/li><li>Get matched with better credit cards based on your boosted FICO\u00ae score.<\/li><\/ul><a name=\"disclosure\"><\/a><\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td colspan=\"2\" class=\"column-1\"><small>* Results may vary. Some may not see improved scores or approval odds. Not all lenders use Experian credit files, and not all lenders use scores impacted by Experian Boost.<\/small><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n<p><b>If you\u2019re considering a credit monitoring service, here\u2019s what you should know:<\/b><\/p>\n<ul>\n<li><a href=\"#how-do-credit-monitoring-services-work\">How do credit monitoring services work?<\/a><\/li>\n<li><a href=\"#when-use-credit-monitoring-service\">When should I use a credit monitoring service?<\/a><\/li>\n<li><a href=\"#are-free-credit-monitoring-services-able-catch-fraud\">Are free credit monitoring services able to catch fraud?<\/a><\/li>\n<\/ul>\n<p><a name=\"how-do-credit-monitoring-services-work\"><\/a><\/p>\n<h2>How do credit monitoring services work?<\/h2>\n<p>If you enroll with a credit monitoring service, you\u2019ll typically get automatic notifications for changes made to your credit report \u2014 such as rises or drops in your <a href=\"https:\/\/www.credible.com\/blog\/credit-score-ranges\/\">credit scores<\/a>, strange activity, and more.<\/p>\n<p>Keep in mind that the amount of monitoring will vary depending on the service you choose. Here are a few types of alerts you might get from a credit monitoring service.<\/p>\n<h3>Credit inquiries<\/h3>\n<p>When you fill out an application for new credit, the lender will typically use a hard credit check to review your credit history. Credit monitoring will keep track of these inquiries, which will also let you know if someone fraudulently applies for credit in your name.<\/p>\n<h3>New accounts<\/h3>\n<p>If you take out a new loan, the account will show up on your credit report. Like with credit inquiries, it\u2019s important to keep an eye on your accounts to make sure no one is fraudulently using your identity. A credit monitoring service makes this easier to track.<\/p>\n<h3>Late payments<\/h3>\n<p>Your payment history is the biggest factor in your credit scores, comprising 35% of your overall scores. Missed payments can stay on your credit report for up to seven years, which is why it\u2019s important to keep your accounts in good standing. A credit monitoring service can help you track your payments so you can resolve any issues right away.<\/p>\n<h3>Public records and legal judgments<\/h3>\n<p>If you file for bankruptcy or have any other public records or legal judgments appear on your credit report, you\u2019ll get a notification from a credit monitoring service. These can have a drastic effect on your credit, so it\u2019s important to know if this type of information is added to your credit report.<\/p>\n<h3>Credit file updates<\/h3>\n<p>There are several reasons why your credit file might be updated, such as if you move to a new address or change your name. Alerts from a credit monitoring service regarding updates to your credit file can also give you a heads up about potential identity theft if you didn\u2019t make the changes yourself.<br \/>\n<div class=\"basic-box\" style=\"border: 1px solid #E2E4E6;\"><div class=\"basic-box__inside\">\n<span style=\"font-size: x-large;\"><strong>Boost your credit scores instantly, free, only with Experian Boost\u2122<small><sup>*<\/sup><\/small>:<\/strong><\/span><\/p>\n<ul class=\"list--iconCheckmarkSolidCircle accent--isGreen\">\n<li>Connect the bank account(s) you use to pay your utility &amp; streaming services. Your information remains private.<\/li>\n<li>Choose and verify the positive payment history you want to add to your credit file.<\/li>\n<li>See your boost results instantly.<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><a class=\"btn btn-warning\" href=\"#experian-boost\">Get Credit Monitoring<\/a><\/p>\n<p style=\"text-align: left;\"><em><small><sup>*<\/sup>Results may vary. Some may not see improved scores or approval odds. Not all lenders use Experian credit files, and not all lenders use scores impacted by Experian Boost.<\/small><\/em><br \/>\n<\/div><\/div>\n<p><a name=\"when-use-credit-monitoring-service\"><\/a><\/p>\n<h2>When should I use a credit monitoring service?<\/h2>\n<p>In 2019 alone, Americans lost over $1.9 billion to fraud \u2014 an increase of $293 million from 2018, according to the <a href=\"https:\/\/www.ftc.gov\/system\/files\/documents\/reports\/consumer-sentinel-network-data-book-2019\/consumer_sentinel_network_data_book_2019.pdf\">Federal Trade Commission (FTC)<\/a>.<\/p>\n<p>Fraud and identity theft generally go hand in hand, which means monitoring your credit could help you avoid becoming a victim of identity thieves.<\/p>\n<p>This makes a credit monitoring service a good idea for almost anyone at any time, whether you\u2019ve had issues with your credit report or not. Plus, many credit monitoring services like Experian CreditWorks<small><sup>SM<\/sup><\/small> Basic are free. The only cost to get started is a few minutes of your time.<br \/>\n<a name=\"are-free-credit-monitoring-services-able-catch-fraud\"><\/a><\/p>\n<h2>Are free credit monitoring services able to catch fraud?<\/h2>\n<p>If you\u2019ve been a victim of identity theft in the past, paying for a premium credit monitoring service that tracks all three credit reports and helps you resolve any fraudulent activity might be worth it. But for most people, a free credit monitoring service will likely be enough.<\/p>\n<p>If you\u2019re considering free versus premium services, here are a few features to keep in mind:<\/p>\n\n<table id=\"tablepress-495\" class=\"tablepress tablepress-id-495 table table-border-top table-rounded table-no-img-margin table-capitalized-column-titles\">\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-1\">\n\t<td class=\"column-1\"><\/td><td class=\"column-2\"><strong>Free credit monitoring<\/strong><\/td><td class=\"column-3\"><strong>Paid credit monitoring<\/strong><\/td>\n<\/tr>\n<tr class=\"row-2\">\n\t<td class=\"column-1\"><strong>Credit bureaus monitored<\/strong><\/td><td class=\"column-2\">1-2<\/td><td class=\"column-3\">3<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\"><strong>Identity theft recovery<\/strong><\/td><td class=\"column-2\">Might not be included<\/td><td class=\"column-3\">Typically included<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\"><strong>Coverage for fraud losses<\/strong><\/td><td class=\"column-2\">Typically minimal coverage if available<\/td><td class=\"column-3\">More generous coverage might be available<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n<div class=\"basic-box\" style=\"border: 1px solid #E2E4E6;\"><div class=\"basic-box__inside\"><b>Keep in mind: <\/b>Free and paid services do a similarly good job of catching fraud. However, paid services typically cast a wider net when looking for fraud and generally offer more help if fraud does occur. If you don\u2019t feel you need this added protection, a free service will likely meet your needs.<\/div><\/div>\n    <script>\r\n        accordions_header_toggle = \"no\";\r\n        accordions_click_track = \"yes\";\r\n        jQuery(document).ready(function($){\r\n            wizard_accordion  = $(\"#accordions-46414.accordions .items\").accordion({\r\n                event: \"click\",\r\n                collapsible:true,\r\n                heightStyle: \"content\",\r\n                animate: (\"linear\", 1000),\r\n                navigation: true,\r\n                active: 999999,\r\n                                beforeActivate: function(event, ui) {\r\n                    if (ui.newHeader[0]) {\r\n                        var currHeader  = ui.newHeader;\r\n                        var currContent = currHeader.next(\".ui-accordion-content\");\r\n                    } else {\r\n                        var currHeader  = ui.oldHeader;\r\n                        var currContent = 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class=\"accordion-icons right accordion-plus fa fas fa-chevron-down\"><\/div>\r\n        <div class=\"accordion-icons right accordion-minus fa fas fa-chevron-up\"><\/div>\r\n            <\/div><div class=\"accordion-content content1554142499803\">\r\n    <p>While there are many reputable and high-quality credit monitoring services available, the industry is also unfortunately ripe with scammers looking to make a quick buck.<\/p>\n<p>If you\u2019re considering a credit monitoring service, make sure the company operates above board and is a good fit for your needs.<\/p>\n<p>It\u2019s also a good idea to search for online reviews \u2014 such as through the Better Business Bureau or Trustpilot \u2014 to double-check that the company is legitimate.<\/p>\n<p>Here are a few warning signs to watch out for:<\/p>\n<ul>\n<li>Offers that look too good to be true<\/li>\n<li>High-pressure sales tactics<\/li>\n<li>Requests for personal information, such as your credit card number or Social Security number<\/li>\n<li>Typos and grammatical errors in marketing materials<\/li>\n<\/ul>\n<div class=\"basic-box\" style=\"border: 1px solid #E2E4E6;\">\n<div class=\"basic-box__inside\"><b>Go with your gut!<\/b> If something doesn\u2019t seem right, it probably isn\u2019t. If you\u2019ve been scammed by a credit monitoring company, consider reporting the company to your state\u2019s attorney general and the <a href=\"https:\/\/reportfraud.ftc.gov\/#\/\">FTC<\/a>.<\/div>\n<\/div>\n<\/div>    <div post_id=\"46414\" header_id=\"header-1558654640261\" id=\"header-1558654640261\" style=\"\" class=\"accordions-head head1558654640261\" toogle-text=\"\" main-text=\"&lt;h3&gt;What can\u2019t credit monitoring services do?&lt;\/h3&gt;\" >\r\n        <div id=\"header-text-1558654640261\"    class=\"accordions-head-title\"><h3>What can\u2019t credit monitoring services do?<\/h3><\/div>\r\n            <div class=\"accordion-icons right accordion-plus fa fas fa-chevron-down\"><\/div>\r\n        <div class=\"accordion-icons right accordion-minus fa fas fa-chevron-up\"><\/div>\r\n            <\/div><div class=\"accordion-content content1558654640261\">\r\n    <p>Credit monitoring services can be great tools for detecting fraud, but they can\u2019t actually prevent fraud from occurring.<\/p>\n<p>To defend yourself against fraud, you need to adopt protective habits, such as shredding sensitive documents and protecting your personal information online.<\/p>\n<div class=\"basic-box\" style=\"border: 1px solid #E2E4E6;\">\n<div class=\"basic-box__inside\"><b>Tip:<\/b> If you\u2019re worried about fraud on your credit report, consider placing a freeze on your credit report. This will restrict access to your credit report, making it harder for identity thieves to open accounts in your name.<\/p>\n<p>If you\u2019ve been a victim of identity theft, also consider adding a fraud alert to your credit report. This will let lenders know to be extra careful of anyone trying to open an account with your information.<\/p>\n<\/div>\n<\/div>\n<\/div>\r\n\t<\/div>\r\n<\/div>\r\n\t\t\r\n<link rel=\"stylesheet\" type=\"text\/css\" media=\"all\" href=\"https:\/\/www.credible.com\/blog\/wp-content\/plugins\/accordions\/assets\/frontend\/css\/jquery-ui.css\"\/>\r\n<link rel=\"stylesheet\" type=\"text\/css\" media=\"all\" href=\"https:\/\/www.credible.com\/blog\/wp-content\/plugins\/accordions\/assets\/global\/css\/themes.style.css\"\/>\r\n<link rel=\"stylesheet\" type=\"text\/css\" media=\"all\" href=\"https:\/\/www.credible.com\/blog\/wp-content\/plugins\/accordions\/assets\/global\/css\/fontawesome.min.css\"\/>\r\n<link rel=\"stylesheet\" type=\"text\/css\" media=\"all\" href=\"https:\/\/www.credible.com\/blog\/wp-content\/plugins\/accordions\/assets\/global\/css\/animate.css\"\/>\n\n<table id=\"tablepress-561\" class=\"tablepress tablepress-id-561 table table-border-top table-rounded table-no-img-margin table-capitalized-column-titles tbody-has-connected-cells\">\n<thead>\n<tr class=\"row-1\">\n\t<th colspan=\"2\" class=\"column-1\"><span style=\"font-size: 16px !important; max-width: 10px;\"><center>Raise your FICO\u00ae Score with Experian Boost\u2122<sup>*<\/sup><\/center><\/span><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr class=\"row-2\">\n\t<td class=\"column-1\"><center><img decoding=\"async\" src=\"https:\/\/www.credible.com\/blog\/wp-content\/uploads\/2021\/01\/Experian-BM-TM-RGB.png\" alt=\"experian boost\" width=\"100\" class=\"alignnone size-full\" \/><\/td><td class=\"column-2\"><div id=\"simple-cta-credit-monitoring-variation-visit-experian-2\"><\/div><\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\"><strong>Perks of using Experian Boost<\/strong><\/td><td class=\"column-2\"><ul><li>Most people see an instant increase to their FICO\u00ae Score with Experian Boost.<\/li><li>On average, people instantly raise their FICO\u00ae Score by 12 points with Experian Boost.<\/li><li>Free, no credit card required.<\/li><li>Get credit for the utility bills you\u2019ve been paying all along.<\/li><li>Streaming subscription payments can now boost your credit scores.<\/li><li>Get matched with better credit cards based on your boosted FICO\u00ae score.<\/li><\/ul><a name=\"disclosure\"><\/a><\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td colspan=\"2\" class=\"column-1\"><small>* Results may vary. Some may not see improved scores or approval odds. Not all lenders use Experian credit files, and not all lenders use scores impacted by Experian Boost.<\/small><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n<p><a name=\"disclosure2\"><\/a><br \/>\n<small><sup>+ <\/sup>Credit score calculated based on FICO\u00ae Score 8 model. Your lender or insurer may use a different FICO\u00ae Score than FICO\u00ae Score 8, or another type of credit score altogether. <a href=\"https:\/\/www.experian.com\/help\/information.html?conf=ecs_ficoScoreDisclosure\">Learn More<\/a>.<\/small><\/p>\n<p><script>\nwindow.credibleAsyncInit = function() {       \nCredibleSDK.initWidget('#simple-cta-credit-monitoring-variation-visit-experian', {\n               environment: 'production',\n               product: {\n                 marketplace: 'credit-monitoring',\n                 type: 'simple-cta',\n                 variation: 'visit-experian',\n               },\n               ui: {\n                 theme: 'default',\n               },\n               analytics: {\n                 source: 'credible_blog',\n               },\n               uniqueId: 'simple-cta-credit-monitoring-variation-visit-experian',\n             });\nCredibleSDK.initWidget('#simple-cta-credit-monitoring-variation-visit-experian-2', {\n               environment: 'production',\n               product: {\n                 marketplace: 'credit-monitoring',\n                 type: 'simple-cta',\n                 variation: 'visit-experian',\n               },\n               ui: {\n                 theme: 'default',\n               },\n               analytics: {\n                 source: 'credible_blog',\n               },\n               uniqueId: 'simple-cta-credit-monitoring-variation-visit-experian-2',\n             });\n};\n<\/script> <script async defer src=\"https:\/\/sdk.credible.com\/sdk.js\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Your credit scores play a major role in getting approved for credit cards, mortgages, and more. One option to help you keep on an eye on your credit \u2014 and even improve it \u2014 is&hellip; <a class=\"more \" href=\"https:\/\/www.credible.com\/blog\/personal-finance\/credit-monitoring-services\/\">Continue reading<\/a><\/p>\n","protected":false},"author":96,"featured_media":46402,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"inline_featured_image":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-46401","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-refinance-student-loans","credit-monitoring-services"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Credit Monitoring: Why You Should Get a Credit Monitoring Service May 2026<\/title>\n<meta name=\"description\" content=\"Credit monitoring services help you keep an eye on your credit for any changes \u2014 including fraudulent activity. 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