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Cheapest Credit Monitoring Service

Updated on April 7, 2010

Having a good credit score is very important these days.  Without a good credit score, you wouldn’t be able to get a good rate on that mortgage and you wouldn’t be able to get the best rates on a credit card.  If your credit score was really damaged then you might not even be able to get a credit card or any loans.  For these reasons, it is important that you keep your credit score up. 

In most cases, people that want to check their credit score will contact one of the three big credit reporting bureaus to get their report.  However, most people only check their score once in awhile.  A better way to do this would be to get a credit monitoring service that would inform you of any negative changes to your credit score.  For example, if a late payment hits your credit score, you would immediately get a message from the credit monitoring service.  Also, if your identity was stolen and used illegally, the credit monitoring service would immediately alert you of any changes to your credit.  

With so many credit monitoring services out there, how do you find the cheapest credit monitoring service?  Not only do the 3 credit bureaus provide credit monitoring service, but banks and credit card companies also provide similar services.  To find the cheapest credit monitoring service, you need to compare prices.  But not only should you compare the prices, you should find out what services are involved exactly.  Some services may send you alerts while others don’t.  First get the prices from the 3 credit reporting agencies, which are Experian, Transunion, and Equifax(TripleAdvantage).  After you get prices from those three, see if your credit card or bank has offers of credit monitoring.  Also find out from them which credit bureaus they get their information from.  The best scenario is that they get it from all three.  One credit agency may report something about your credit while the other doesn’t.  Also remember that credit monitoring services usually charge a monthly fee.  Once you’ve compared all the services of the cheapest credit monitoring service, go with the one that best suits your needs.


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