Best About Credit Monitoring Services

Have you ever heard about credit fraud, If this is your first time to hear about it, then you should be wary about your credit, because you might be a victim of one as we speak. Credit fraud is when someone uses your personal information and they run a huge credit debt on your account without your knowledge. And that happens because these thieves change the information like your address so that you won't easily find out about it.

But what does it have to do with credit services, Credit monitoring services are your best defense against identity theft. But that's not it; you can actually get more from a credit monitoring service than protection against theft. You get to check your credit account regularly with ease; unlike checking it through mail, wherein you have to requests copies before getting it (unless you have subscribed to one, then you'll get them automatically).

The advantage of being on a monitoring service is that it notifies you for all the changes in your account. Not only that, you'll know about due dates or exceeded bills if you have this service. You'll easily know about the goings-on in your credit report easily, so any sign of errors will get you disputing a file early to your credit agency. You can even track fishy transactions in your credit report; you just have to learn how to detect one.

Make sure to keep all proofs such as receipts, just to be ready for situations like these. Another new thing about credit services is that you can get them on your phone. Smart phones are the newest craze right now, and it is smart alright! Just download an application and you'll now be able to check your credit. Same goes with other credit monitoring services; all you're going to need is an internet connection.

But with all the wi-fi connections everywhere, that pretty sure won't be a problem. In order for you to appreciate your credit, you have to take care of it first. You have to work for it before earning your price, because let's face it, your credit score will not boost its way up on its own. Although there are common-sense ways for you to protect your credit, monitoring services has its advantages. Others consider this a waste of their money and time, while others think that this is a real investment. This doesn't come free of course, but don't you think it's going to be worth it if it will give you an overall peace of mind, easy access and protection, Think about it well. You might benefit from it more than you think you would.

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. 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 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.

Today is the deadline to sign up for Equifax’s free credit monitoring service after the credit reporting agency exposed personal information of 143 million U.S. Georgia Attorney General Chris Carr said he is “strongly encouraging customers to take advantage of this service to help protect against identity theft” before the Wednesday deadline. The free credit monitoring, which lasts one year, sends an alert if any suspicious activity appears on your credit report and includes a copy of your Equifax credit report. While the credit monitoring offer is ending, Equifax’s free credit freeze has been extended to June 30. Equifax is based in Atlanta.

The most important credit score factors have been reviewed in previous DailyDollar articles. By now, most people understand that payment history and amounts owed are the two biggest components that make up your credit score. The types of credit you have, number of inquiries and length of credit history make up the other key factors.

There are two popular ways to obtain your personal credit scores. First, you have the option to purchase them directly from the credit bureaus. Second, you may get access to your personal credit scores for free by trying a credit monitoring service which is available to all consumers. The best advice that we can share about the optimum number of credit cards you should have is at least three, but no more than four credit cards. In addition, keep in mind that the longer you have these three credit cards (and actively use them) the better for your credit score.

Having more than four cards isn’t the end of the world,however. Look at the facts, here is what happens when you open a new credit card. You can expect a small drop in your credit score. That drop in your score will last for at least six months until some history of use on that new card and payment history can be tracked, recorded and reported out by the credit bureaus.

Some people out there have 15 or 20 credit cards, including store cards (like Target or Sears). If you want to begin the process of consolidating and eliminating some of your cards, here’s what you do. To start off, make a list of your cards and the age of each account. Then, close out the youngest accounts first which do not have as much history attached to them. Nathan Randall, editor, DailyDollar Newsletter provides free daily advice on money matters plus coupons and discount codes. FYI…you can now access the DailyDollar Newsletter via iTunes podcast, YouTube video, and on Facebook and Twitter too.