Credit-Monitoring Service Benefits
Before you fork over the money to use a credit-monitoring service, make sure you're using all of the free resources available to you. The most extensive services are quite expensive, and you might not need them unless you're really worried or you're having a hard time getting your credit reports fixed. If you are going to use a service, make sure you get everything you need.
Credit-monitoring services are best for people who need and want a lot of information. Victims of identity theft and people who want constant access to their credit information and scores will benefit most. If you won't take the time to order and review your free credit reports, you might also benefit from using a service.
When shopping for a credit-monitoring service, make sure you get what you need. This section highlights some of the features you will find most useful.
Frequent Monitoring and Notification
You want a service that checks early and often. Find out how often they access your credit files to check for changes. Likewise, find out how often they notify you of any changes. Ideally, you want them to do it daily.
Who do They Monitor?
Some monitoring services only monitor one credit-reporting company. Others monitor all three of the big ones, and they track other databases that you might be interested in. You'll benefit from more information, not less.
Error-Resolution Services
Some services help you fix errors and recover from identity theft. They typically say they'll do most of the work once you alert them to a problem. This will cost more, but you might want it. Make sure you read the fine print and understand what you do, and don't, get from this.
Identity-Theft Insurance
Some services offer to reimburse you for your time and expenses related to recovering from identity theft. The ID theft must occur while you're using the service. Again, this costs money and you will want to view the insurance contract so you know what to expect.
