About Credit Monitoring

This page is dedicated to credit monitoring.The information on this page is about what is credit monitoring and why it is important to have eye on your credit score. Credit monitoring helps in identifying lapses committed by you such as late payments, missed payments, wrong information reported against your credit account and also to cross verify your existing credit information.

Any negative information reported against your credit account will drag your credit score down. The lower credit score means lenders will charge you higher interest rate on loan and credit card balances. Lower credit score also means less options of getting loan from lenders. Monitoring your credit account is also helpful in identifying wrong information being reported in your account or worse finding any fraudulent activity against your financial account. It is pro-active step to guard your credit score and ensure you catch issues up-front.

What is identity theft?

Identity theft has become a worldwide issue and government and private cooperate companies are engaged against hackers who are stealing personal and financial information of net users. Hackers who are after people’s personal and financial information attack every year credit card companies and financial institutions. This attack is not limited to companies but also to individual web users. The malicious cookies, viruses are embedded in download code to steal your information. This information is used for variety of reasons ranging from buying car, applying credit card to bank loans. Before fraud is unearthed hackers have already done the damage.

In this situation credit monitoring becomes very important. You can see activity on your credit card account, bank account and retail accounts. Any activity, which you do not have made and don’t recognize, should be reported immediately to the cardholder company also to credit reporting agencies. The quick action will help in stopping hackers stealing your information also avoids damage to your credit account.

About FICO scoring Model

The FICO scoring model has eight categories to classify an individuals credit health. The FICO based credit score ranges between 350 to 850. Each range is labeled under credit score category.

350 – 499
500-549
600-649
650-699
700-749
750-799
800 – Above

Credit monitoring helps you identify the fraud against your account, wrong information reported against your account and option of protecting your credit score.

Credit Score Websites

1. Free Credit Report

2. CreditReport.com

3. Check Credit Score

4. Experian - Bureau

5. Equifax - Bureau

6. Transunion - Bureau

6. About Credit Score

Identity Theft Complaints

1. FTC - Govt.

2. SSA - Govt.

Credit Reporting Agencies

1. Experian

2. Equifax

3. Transunion