Credit Monitoring: All You Need To Know

Podcast Show by Radhe Shyam

A service called credit monitoring aids you in keeping track of your credit history and keeping an eye out for any alterations or activity on your credit report. Alerts for new accounts opened in your name, modifications to existing accounts, or indications of possible fraud or identity theft fall under this category. You may stay informed of any potential inaccuracies or illegal activity on your credit report and take immediate action to address them by keeping an eye on your credit.

Regularly checking your credit record and keeping an eye on your credit score are crucial since mistakes can happen and identifying them early will help preserve your credit history. The three major credit agencies are required to give you a free credit report once a year, but credit monitoring services typically give you more frequent and continuous access to your credit data. A number that symbolises your creditworthiness and is used by lenders to assess your likelihood of repaying a loan is your credit score, which is another feature of some services.

Overall, credit monitoring can assist you in maintaining the accuracy of your credit information, being informed of any changes or potential fraud, and taking proactive measures to keep your credit in good standing.

Refer to: https://cardinsider.com/blog/credit-monitoring-all-you-need-to-know/