Why is credit monitoring important?

In today's world, having control on your credit can help you to save both time and money. Not only can credit monitoring be a personal assistant to you, but also a watchdog. It watches your credit reports and will alert you with any changes to any of your accounts. This will both help you stay secure and also maintain a healthy credit score.

Credit monitoring is extremely important when it comes to identity theft protection. Although credit monitoring is unable to completely prevent identity theft from happening, it is able to discover any suspicious activity early, which is essential.

Almost 17 million consumers had their data compromised and experienced identity theft in 2017 alone. With your credit files, imposters are able to open credit cards, take out a car loan and open new bank accounts. Credit monitoring is used to identify potential cases of this, and allows you to take control of it before a lot of damage is done.

Knowing your credit score is also extremely important in many aspects of your day to day life. This allows you to be aware of what is going on at all times. Your credit score can determine getting a loan, applying for a credit card, or even getting a job. Credit scores can fluctuate based on many different factors, which can often go unnoticed, leading people towards thinking they have a good credit score, when they potentially do not. 

Ensure to maximize your benefits if you have a credit monitoring service. Take full advantage of all the features the service will most likely offer to you;

Access to your credit report, so you are able to check it consistently, as knowing yourself what is going on is the first step towards protecting your credit from criminals.

Access to your credit report, letting you see the number that lenders use to assess your credit worth. This will also allow to notice any potential identity theft, if you believe it is lower than it should be.

Alerts of any changes that are made to your credit file. Informing you of any accounts are opened in your name, information added to your report or even an inquiry into your credit files.