Does subscribing to credit monitoring services make sense? Well, in this day and age of the internet where identity theft has become rampant, it makes sense to obtain some sort of credit protection. Consider these staggering stastistics:

  • Every year over 1 in 10 americans will become a victim of identity theft or credit fraud, and the annual trend is getting worse. Average losses incurred are said to be over $5000 per individual. This is when you rely solely on paper statements to monitor your credit. For all we know your personal information may have already been compromised. It’s just that this stolen data which contains your personal information hasn’t been actively used by the identity thieves as of yet. It’s just a matter of time before they do… (*You can always read more details here regarding the shocking facts & statistics of identity theft*)
  • On the otherhand, studies have shown how those who utilize credit monitoring services only reach losses of around 1/10th of that amount ($500+) because they’re quickly alerted to any fraudulent credit activity. And since pretty much all credit monitoring services have IDENTITY THEFT INSURANCE in place, any losses you’d incur from identity theft or credit fraud is quickly recovered. In essence, you lose $0.

Out of the many free trial credit monitoring + identity theft protection services you’ll come across on the net, we rate these as the TOP offers, based on quality of service, features, and overall customer feedback. If it’s not on this chart, then it didn’t make the grade.

Offer Name: Our Rating:
Free Credit Scores Received: Credit Bureaus Monitored: Trial Period: Benefits:


See Offer

All 3 Scores:
TransUnion
Equifax
Experian
TransUnion
Equifax
Experian
Free 7-day Trial
$39.95/mo thereafter
All Free 3 Credit Scores.
3 Bureau Credit Monitoring.


See Offer

All 3 Scores:
TransUnion
Equifax
Experian
TransUnion
Equifax
Experian
Free 7-day Trial
$39.95/mo thereafter
All Free 3 Credit Scores.
3 Bureau Credit Monitoring.


See Offer

Single Credit Score TransUnion
Equifax
Experian
Free 7-day Trial
$19.95/mo thereafter
3 Bureau Credit Monitoring.


See Offer

Single Credit Score TransUnion
Equifax
Experian
Free 7-day Trial
$29.95/mo thereafter
3 Bureau Credit Monitoring.

How We Rate These Services

Key Factor #1. Comprehensive Credit Monitoring – This is obviously an important factor in seeing which service is good. You want the best and most comprehensive credit monitoring and identity theft protection service for maximum protection. Pretty much all of the Top services will have 3 bureau credit monitoring.

Key Factor #2. Free Credit Scores Received – Pretty much all of the top rated credit monitoring + identity theft protection services allow you to see your credit score(s) for free during their trial period. Some let you see all 3 scores. Also, their trial period varies.

Key Factor #3. Overall Customer Feedback – Last but not least, you want to sign up with a service that enjoys the best customer service and customer satisfaction ratings. The top picks listed above all have great customer feedback. (Otherwise they wouldn’t pass the grade.). These services all include a handy toll-free hotline where you can receive immediate assistance and helpful advice. They even include assistance if you ever become a victim of credit fraud, etc.

About Credit Monitoring Services

Does subscribing to credit monitoring services make sense? Well, consider these facts: Over 1 in 10 americans will become a victim of identity theft or credit fraud. Average losses incurred are said to be over $5000 per individual. This is when you rely solely on paper statements to monitor your credit. On the otherhand, studies have shown how those who utilize credit monitoring services only reach losses of around 1/10th of that amount ($500+) because they’re quickly alerted to any fraudulent credit activity. And since pretty much all credit monitoring services have some sort of identity theft insurance in place (up to $1 million in some cases), any losses you’d incur from identity theft or credit fraud is quickly recovered.

About Credit Scores

Credit scores are used by different financial institutions, lenders, and creditors. Credit scores reflect your creditworthiness. It is used to determine if you will be approved for a loan request. It also determines your loan interest rates. If you have a bad credit score, the higher interest rate would usually mean that you’ll end up paying higher monthly payments for the same loan amount, compared to someone who has an excellent credit score. The data from your credit report is used to figure out your scores using particular algorithmic equations.

About Free Credit Reports

Credit reports on the other hand records loan payment obligations of your various credit or loan accounts. Accounts listed usually include mortgage loans, credit card balances, auto loan accounts, and personal loans, but they are not limited to these. Any loan obligations are usually reported by the creditors to one or all of the 3 credit bureaus – TransUnion, Equifax, and Experian. They do offer your credit report for free once an year. This is what’s often called ‘free credit report gov‘ or annual credit report. Each of these credit agencies will also provide you with a credit score but you’ll have to pay for them.
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