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Credit Monitoring Services: Safeguard Your Credit File Plus Improve Your Credit Score

By: John Stuart Smith|LRL Writer

Credit Score MonitoringWith identity theft on the rise, it is imperative that everyone keeps a keen eye on their credit reports, and this should be done on a very regular basis. Although in the past it may have been fine to review your credit report once a year, this is no longer the case. In fact, checking it carefully three or four times each year is recommended. But, this task can be tedious for many. If this is the case with you, then credit monitoring services are there to help people like you.

They may be the answer that you may have been looking for. These services will closely review your credit report and advise you accordingly if there is any unauthorized activity. Furthermore, they can help you to take the right action should there be any threat to your credit.

Credit monitoring services are highly recommended and definitely one of the must have things for most people in this computer age. This is among the things that may surely safeguard you from getting victimized by unscrupulous persons nesting over the internet to hunt their prey. This type of service will help you get started in monitoring your credit regularly, in order to keep an eye on trends in spending, balances, delinquent accounts, and in addition assist you to avoid fraud and identity theft - acting as a silent counselor for you. The monitoring service alerts you of important changes to your credit file during 24 hours, so you can feel confident and secure with instant ID fraud protection. It’s intended to immediately inform you of any changes to your credit file.

Aside from monitoring your credit reports, they are also valuable tool to have to help improve your credit score and if you want to keep an eye on your credit score. When reviewing your credit reports and you discover common errors and discrepancies, those issues can be address and corrected immediately to help improve your score ratings. Many subtle corrections can be made and help increase your credit score by 20 to 50 points within a few weeks. Most services will commonly let you have access to your credit reports for free for a given period of time.

Make sure the credit monitoring service will provide you all (3) Three major credit bureaus such as: Equifax, Experian and Trans-Union and give you monthly reports to monitor your credit. They should notify you if someone accesses your credit history or social security number or if you will find changes to your credit ratings.

It cannot be stressed enough that there must be a proactive approach that must be taken to keep you and your family safe from any financial harm that may occur in the event of you being a victim of identity fraud.

Additionally, these credit monitoring services can identify any problems that may be recorded in error with legitimate creditors. Discrepancies on credit reports are quite common. The key to resolving any problems is to find them and act on them as quickly as possible. This will avoid any other damage from occurring that can have a terrible impact on your credit.

Today, it is safe to say that without credit or without a good credit standing, you can barely function in society. Without good credit, this will cause some difficulties with obtaining insurance, rentals of automobiles, hotels, getting low mortgage rates and so on. If you are buying a car it's nearly impossible to buy one without a large down payment, plus they charge you a very high interest rate. Unless you have access to liquid assets in the form of cash that will enable you to pay-off for the entire amount straight out, you are better off.

Of course, most of us are not in the position to do so, and therefore, the most valuable asset we have is the good standing of our credit. It makes all the difference in everyone's life and simplifies matters when it comes to purchasing items, regardless of their cost.

It is scary to see statistics of the amount of victims of identity fraud. At this very moment, there could be someone out there who is impersonating you and using your name to take out loans and credit cards. The only way you would know about it is when collectors are calling you or sending you threatening letters.

In order to avoid this from happening to you, it's important that you take an active role, either personally or through the services of credit monitoring companies. They can help you even if you have lost your wallet or if it was stolen. You would simply call them and they would handle all the calls to the various creditors, cancel those accounts and open new ones for you. They certainly come in handy and save you time and the hassle of doing it all on your own.

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