Identity Theft Reviewed

Standard credit reports provide access to only annual updates, and many consumers may want to invest in a credit monitoring service for more real-time information. Especially for consumers who want to limit the risk of identity theft, credit monitoring can be an effective means of tracking any accounts opened in your name, as well as the resulting implications for your credit score. Credit monitoring provides a pro-active means to respond to any potential threats to your credit file, as well as giving you a tool to keep updated on your accounts.

For a small fee, you can access to a comprehensive credit monitoring report that gives insight into your account status. Reports suggest that many victims of identity theft aren’t aware of the theft for over a year after the initial filing; with an updated credit service you can become instantly aware of any potential threats to your accounts.

Comparison with ID Theft Services

Credit monitoring can provide value for consumers with good and bad credit alike – every consumer’s identity is at risk for potential identity theft. ID Theft prevention services such as Life Lock, Trusted ID and ID Watch Dog take the process a step further by taking actions to prevent loses from suspicious data in your credit file.

With a standard monitoring service, you will gain access to filings in your credit report, but will have to manually act on any information you gather. For consumers and businesses that are busy with the tasks of day to day life, investing in an ID Theft Service, in addition to standard credit monitoring, may be a solid investment. By taking preventative steps to safeguard your identity, you can be assured that your credit file will remain safe well into the future.

Credit monitoring provides an overview of any changes to your credit file within 24 hours, and provides a broad overview of activity on your account. Importantly, the service does not adversely impact your credit score – instead, it provides you with information into your accounts for monitoring purposes.

Monitoring services work through the major credit reporting bureaus. These services can provide value to nearly every consumer, although additional safeguards through identity protection subscriptions can add additional layers of security. By keeping your information on credit monitoring updated, you can be assured that you have recent information on your account to prevent any adverse accounts – an ID theft service can work with you to implement the changes needed to prevent any resulting loses.