Kelly m asked:


Ok I was lured in finally by the free credit report.com jingle & joined the credit monitoring. I thought I’ve been doing well for the past 6 months paying everything on time, etc & then i got a discount offer thru my membership to get all 3 reports & oh my. Thier were like 6 other accts from years ago when I was 18, 19 things that I forgot all about. Now thier not set to fall off until 2011 & I dont know if it’s worth waiting 3 yrs for them to fall off & if not what do I need to get from collection co if I settle. I know I need it in writing first b4 paying but should it state settled,paid,closed etc

Jacob

Julia Kabaki asked:




Credit monitoring services carry out regular checks on your credit report. The check is done periodically and with automated techniques. As soon as you register with this service, you will constantly receive a notification or alert concerning any changes made to your credit report. The type of the change and the date is also included in the notification which is sent almost immediately the time such change occurred.

Top Benefits

1. The service provides convenience in credit report tracking and monitoring; you have peace of mind and you can relax without worries knowing that your credit record is being tracked and monitored.

2. Vulnerability to identity theft is extremely reduced. Since your credit report is monitored regularly, you are informed of changes on your credit report as soon as they occur, this will help you detect strange changes and investigate them immediately. This way, you can prevent Identity theft and other fraudulent acts from taking place. Your credit score can be severely battered as a result of identity theft. Identity theft culprits can use the victim’s financial and personal information to take loans/ credit or open a new account. It’s a terrible thing to fall prey of such devastating acts.

3. Credit management is another invaluable service you can obtain when you register for credit monitoring. In addition to giving you update of what is happening to your credit record, the service also helps in managing different areas of your credit such as tracking your payments and the due dates.

4. Credit report integrity maintenance; by obtaining free credit report regularly and assessing them, you can detect errors made by either your creditors or the Credit Bureau, and subsequently take immediate action to fixing such errors. By so doing, you will keep up with your data integrity maintenance. This is a very important because errors that are not spotted on time can be very challenging and problematic when you later discover them and try to fix them.

Credit monitoring makes a lot of sense to a smart consumer. Not only is it very affordable, you are protecting your identity and also insuring that your financial future is solid. As they say, if you can not measure it, you can not control it. It is wise to seriously consider starting credit monitoring today.

Kimberly

Mike Singh asked:




Have you heard of credit monitoring? It is a service that reporting agencies offer to you. The service is quite straightforward. For a fee, they will monitor your credit for you to insure that nothing strange appears or that nothing out of the ordinary reduces your score. Is an investment in such a service worthwhile?

How Credit Monitoring Can Benefit You

First of all, monitoring does do something that has become necessary with the advent of different types of credit fraud. Any consumer, anywhere that uses credit needs to monitor their score and report. It is necessary because at any time a negative item is placed on your report it can be very detrimental to your future credit needs. Those who commit such fraud do not necessarily need your social security number or other personal details. It all depends on where they use your card information.

It is important to know what’s on that record and it is important to know how it got there. The longer it goes without being disputed, the more ‘real’ it looks in the eyes of the law. In this way, monitoring really can benefit you because you will be notified right away when negative activity is reported on your report.

How Credit Monitoring Can Rip You Off

It is true that such a service can be helpful, but monitoring is very expensive, up to $150 per year in some cases. This money can be used to help reduce credit card debt instead. If you are net savvy, then your credit report is a few keystrokes away. All of the major reporting agencies can be found online and can tell you’re what your report looks like.

Also, in the United States, as of this year, you are provided a free credit report each year from the credit reporting agencies so that you can monitor your credit history. This free product may not be enough, but it is a start. You should check your report often and know what is on it. Ideally, you should check your report every 3 months. If you are going to be making any large purchases e.g. a new house, a new car you should get your report a couple of months in advance so that you can clear up any negative items in time to get the best deal on your purchase.

Jared

Julia Kabaki asked:




Do you know what your credit score is? Are you happy with the number? While you can get an annual free credit report, this does not include information about your credit score. You can only see your credit score once you opt in for a credit monitoring service.

So why is it so important to know your credit rating? The main purpose of knowing your score is so you are aware where you stand when it comes to being granted a loan or credit in the future. If you are planning to buy a car a next year for example, you need to know your credit score now so that if it is low, you can do your best to improve it. Remember if you can not measure it, you can not control it. Your credit score will also tell you the money needed to pay once you start borrowing money. Remember that this score is based on a scoring system made especially for lenders to realize whether lending you money is a good or bad risk.

Undoubtedly the best way to know about your credit score is to subscribe to a credible credit monitoring service. Services such as this will not only help you know your actual score; they will also give you your credit report every month. You are also constantly updated with regard to changes made in your report and profile, hence protecting you from identity theft.

Most credit monitoring services now come with a simulator that tells you what you can do in order to better your credit history and rating. They will also give you personalized tips on how to lower your interest rates in the shortest time possible, which is especially helpful if you are looking to make a large purchase. Aside from this, monitoring your credit will also allow you to dispute charges on your credit report. This can help improve your credit and at the same time give you peace of mind.

Bruce

Jennifer Sargenton asked:


I have a credit card, and my credit card company states on their website that if I enroll in their credit monitoring program that protects you against fraud, i will receive a free credit report and score. I’ll get charged after the free 30-day trial, but it states that I can cancel at any time. Is this a good idea? I don’t want to be charged for any extras besides the credit monitoring program.
The first 30 days are free, and after that it’s $12.95 a month. I really don’t need the identity theft/protection program, but i’d feel much safer giving my credit card # to my credit card company since it’s their card, so i don’t thinnk i’d get charged for anything extra since that’s kind of the purpose of the whole program, but i just wanted to see if anyone thought it was a bad idea.

Lillian

Lucy W Thomas asked:




Credit monitoring is one of the ways that you can consistently check your credit report to ensure you are aware of the entries on your credit report. There are some things that will change your report, such as applying for loans, paying off debt, or opening a new account with a loan company. Viewing your score online, however, won’t affect your credit score at all.

How Credit Reporting Works

When you buy something or apply for a loan, you will receive a new entry on your report. Some of the things that most commonly lower your score are paying debts late, having debts go into collections, making applications for credit cards or loans, or having a large amount of debt such as a mortgage. Your score can change quickly if you don’t watch it carefully, making it important to check credit score reports often.

If you find that your credit score is going down, you need to watch all of your financial applications and payments. Over time, your credit score will rise if you have made all of your payments on time and you have reduced the number of loans or credit cards that you apply for. You can check reports for free by looking for a website that provides a free credit report along with credit monitoring services.

Credit Monitoring

Credit monitoring does not lower your overall credit score, and can in fact help you increase your score by giving you the information you need to make wise money decisions. You can check reports online, from the comfort of your own home by visiting a credit monitoring website. You simply need to sign up for your free credit report, so that you have access to all your financial information in one convenient report.

Ernest

broreal asked:


Any One knows where I could get free credit report with out signing for anything. Most of them say they re free but they want me to sign up for a credit monitoring service.

Ethel

Kyle Gentile asked:




The first step to a good FICO score is to know you where you are at. Most people look for a way to obtain a free FICO score, but it can be tricky. There are a couple things to watch for when trying to obtain a free FICO score.

The first is when you look for a free online FICO score you are blasted with advertisements. There are so many companies looking to give you a free credit score. The true is all are not created equal. Fair Isaac developed the FICO score and it is used by ninety percent of the lenders in the country. Seeing the success of Fair Isaac, the credit bureaus decided getting into the credit score business could be profitable. Scores that are commonly offered, when you are looking to obtain a free FICO score, might not actually be a FICO score and one of these other scores. There is a hundred different way to score credit and only one is a FICO score. You just need to make sure it does say FICO and you should be safe.

The second, when trying to obtain a free FICO score, is offers that come along with the free fico score. The fact is it isn’t really free. Meaning, to obtain a free fico score, you will need to sign up for a credit monitoring program. These programs are usually free for the first month but after that you will be charged on a monthly basis.

The confusion comes from the fact Americans by law are entitled to one free credit report each year from each credit bureaus. This is does not state are entitled to obtain a free FICO score. Getting a credit score is relatively new. It was only 2003 when congress passed a law giving people the right to see their score. Before 2003, consumers were kept in the dark about their credit scores. Fair Isaac wanted to keep the score secret because they thought people would try different measures to influence their scores.

If you don’t want to sign up for credit monitoring program you will have to pay for a FICO score. Once again here make sure it does say FICO. If it doesn’t you run the risk of getting one of the other scoring models. If you still want to obtain a free FICO score you will have to sign up for one of these programs, but you do have the opportunity to cancel if you want. The first month is usually free.

Anita

Nancy Dewitz asked:




Credit Monitoring has inherent weaknesses and strengths. However, when taking this service out through a credit bureau or any other company who offers this service, are you getting the most bang for your buck?

First, credit freezes and locking down your social security number is a good first step in the right direction. However, if you contact the credit bureaus directly, you can freeze your own credit for a nominal fee of $5 or $10. Naturally you get a pin number at the time you do the freeze. Therefore, when you want to remove the freeze, you can do so for a nominal fee of $5 or $10 depending on your applicable state law.

Second, do you really need a copy of your credit report every month complete with email alerts and text messages when you put a freeze on your account? You get a free credit report from all the bureaus once a year, so place a freeze with each credit bureau, wait a month and order your free report from the first credit bureau. Wait 3 or 4 months and order a credit report from another bureau. You can do the same with your spouse since most times your credit is intertwined, and receive a total of six credit reports a year.

Third, the credit services and bureaus do not tell you what percentage of companies do NOT belong to the credit bureaus. Mom-and-Pop operations, furniture stores, car lots that sell cars at exorbitant interest rates to poor credit risks are just a few examples of businesses that may not report to the bureau. This is an expense that small businesses cannot afford or want to get involved with. Trust me when I say, there are an astounding number of businesses that do not belong to or report to the credit bureaus.

Bottom line, Credit Monitoring advertisements employ scare tactics to make you believe all your worldly goods will evaporate overnight leaving you to sing for your supper at a restaurant to pay off all the bills from Identity Theft, therefore, freezing your credit yourself for $5 or $10 is a good idea and a good value.

However, what do you do with all the ways that Identity Theft can come at you that Credit Monitoring may never alert you to? I would love to see some truth in advertising for credit monitoring and credit freeze commercials, but I could just as easily click my heels twice and be in Kansas. Basically Credit Monitoring services tell their version of the truth, but it’s what they’re not telling you that really irks me no end.

So what is the rest of the story? According to my sources, credit fraud is not the major cause of Identity Theft but it’s the noncredit-related areas such as legal, medical, tax, benefits, 401(k), immigration, drivers license and other types of fraud that are purported in your name that not only create massive nightmares but are for the most part untraceable by law enforcement. Handling the nightmare yourself can take months, not hours to resolve.

Therefore, you cannot prevent Identity Theft. It’s a matter of when, not if, you will be a victim. However, there are more effective steps you can take to protect, detect and restore your identity in the early stages of Identity Theft. Discover a whole new world of Identity Theft Fraud Protection and Restoration solutions that are much more effective than Credit Monitoring and credit freezes.

Your Identity Theft & Fraud Protection Specialists,

Nancy Dewitz and Bob Listerman

Brandon

L. Sampson asked:




Knowing what is on your credit report can help to keep your personal information safe, give you a chance to correct inaccuracies, and save you money on interest rates when you apply for a home loan. With the wide availability of free or low cost credit reports online, there is no reason to spend a lot of money to find out how credit worthy you really are.

Obtain a free credit report when you sign up for special services

If you are interested in signing up for credit monitoring or similar credit check services, take advantage of a company that offers a free credit report when you sign up for their program. If you are interested in a credit monitoring or counseling program, look for one that offers a free credit report instead of paying for this information.

Go straight to the source

According to the Fair and Accurate Credit Transactions Act, everyone is entitled to receive a free copy of their credit report from each of the three nationwide credit reporting agencies, Equifax, Experian and TransUnion, once every 12 months. You can individually request a copy from each bureau or you can look for online companies that offer a free centralized request form that lets you fill out one form and receive your credit report from all three agencies.

Save money later by not being too thrifty now

While free online credit sites abound on the internet, it isn’t always as free as it sounds. Always thoroughly research any company you are about to request a free credit report from. Some are nothing more than fronts for identity theft scams. Ironically a consumer thinks they are getting a credit report to safeguard their credit, when in truth they are giving away valuable information to identity thieves. While it might seem wonderful to get a credit report for nothing, it won’t seem so wonderful if you have to go through the headache of cleaning up your credit report or if you aren’t able to secure a loan because of fraudulent information on your report.

Dale