If you’re like most people, credit monitoring is not something you think about on a daily basis. But what if we told you that it may be the only thing standing in the way of you falling victim to identity theft?
Credit monitoring services track your credit and identify possible security breaches to protect your sensitive information from being stolen. These third-party companies keep an eye on your credit activity, so you don’t have to. Learn more about credit protection below, including why it’s important and how to find the best monitoring services.
Credit monitoring is one of the most important steps in protecting yourself from identity theft. It is the process of frequently checking your credit report for mistakes, errors or suspicious activity.
Credit protection is more important than ever before. Identity theft is at an all-time high and can happen to anyone. In fact, according to a recent report, Americans lost a combined $52 billion to identity theft in 2022 alone.
When it comes to identity theft, protect yourself and your family by monitoring your credit frequently. It’s easy to swipe your card here, punch in your card number there and forget about it. But the truth is, identity thieves, prey on consumers who do not pay attention.
There are a variety of free credit monitoring and paid-for services that you can use to help protect your sensitive information. You can check your credit report on your own; everyone is legally entitled to one free credit pull each year from the three primary reporting bureaus.
However, credit monitoring it takes time and effort. Plus, if you aren’t careful, you could miss a few warning signs of identity fraud on your account that could lead to a loss of funds.
The best credit monitoring services do the hard work for you. These services actively monitor your credit report, scan for viruses and alert you to potential issues 24/7.
Some credit monitoring services are free, such as those that are offered by banks, credit unions or credit card companies. Others require you to pay a subscription fee on a monthly or yearly basis.
No matter which type of credit monitoring company you choose, you can rest assured knowing your credit is being closely watched. Plus, some services will even reimburse you up to a certain amount if you lose money due to identity theft.
Wondering which type of credit protection is best for you? Continue reading the next slide to learn more.