How Credit Monitoring Can Lower Your Identity Theft Risk
Mon 22 February 2016
Due a huge increase in identity theft, and an already suffering economy calls for the employment of a credit monitor service that allows you to protect your credit reports.
Using a credit monitor service is not overly expensive, as compared to the benefits it allows. Well, it is a matter of choice, as many people don't consider these services as useful as they portray themselves to be. Of course, if you use cash most of the times, and don't rely on a good credit score to obtain loans, mortgages, and credit cards etc then you won't be requiring these services.
But for majority of the people that are dependent on credit scores and carryout most of their transactions through credit cards then ensuring the safety of their credit reports gets necessary.
It is sometimes said that your credit explains the identity of a person. Well, it is true in a sense that a good score will allow you to have a good home, a job, and credit. So if you belong in this category then it is necessary to keep a close eye on your credit/fico score.
In most of the cases, your credit report will be having errors and by employing a credit monitor service, you can fix these errors, along with a number of different benefits. Some of these services also help you bring up your credit score, by advising necessary changes that you will have to adopt.
Identity theft is a problem that can affect anyone at any time. But it is also necessary to know that some people are more vulnerable than others. For instance, if you have multiple credit accounts then you are vulnerable. Also those couples, who are going through a divorce, or those families who recently experienced a death are quite vulnerable to identity theft.
One of the indications of being robbed off your identity is that you start receiving calls from lenders, or credit offers that are addressed to other people. Here is when the credit monitor service gets important, as you are given a report of your credit on daily basis, or as you desire.
It is also necessary to know that a credit monitor can avoid a fraud, but by presenting you a daily report of your credit, you stay well informed, and in case of a fraud, you receive timely alerts.
Some people argue that all the functions that a credit monitor service performs can also be performed by them as well. But the important thing to consider here is that you barely find time to carryout all these functions, plus if you can get these services at a cheap rate then there is no use wasting your precious time.
Some may say that a credit monitoring service is unnecessary and that individuals can easily do this on their own. I would say that a monitoring service is necessary to protect yourself and your credit from the eyes of the thieves and should be a top priority for the new year. Do your research first. SIF.org is one of the most trusted resources online. See their reviews of the best credit monitoring services here http://www.stopidentityfraud.org/credit-monitoring-services and decide for yourself.