To keep tabs on your credit, it's best to enlist the help of others. Checking your free credit reports and purchasing additional reports throughout the year is great, but you can take an even more proactive approach. Credit-monitoring services can keep you up-to-date with the most important information.

What They Do

Credit monitoring services “push” information to you so you don't have to “pull” your credit. They periodically check your credit reports and inform you of any changes. You might receive an e-mail every time an inquiry is made or a new account is opened in your name. In addition, they typically offer unlimited viewing of one or more of your credit reports and credit scores. Sometimes you can view your FICO score, sometimes it's just a proprietary credit score. Note that your scores and reports may not be updated daily; rather, they might only update weekly or monthly.

Finding a Credit-Monitoring Service

Credit-monitoring services are not hard to find. In fact, it's really hard to check your credit report or credit score without getting an offer to use a service. If you need to go looking, you can start with the major credit-reporting companies — Equifax, Experian, and TransUnion. Next, you might visit myFICO.com (run by the Fair Isaac Corporation) for services offered there. Finally, see if your bank or credit card company can get you a deal.