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Credit Report News, Tips & Advice « Credit Reports > Credit Report Advice > Extra Services in Understanding and Monitoring Your Credit Report

Extra Services in Understanding and Monitoring Your Credit Report

By Andy Snyder
Published: Saturday, October 17th, 2009

As you may already know by now, there are three major credit reporting agencies that you can easily access your credit reports from: Experian, Equifax, and TransUnion. Under specific circumstances, you are allowed by the law to receive a free credit report from any of these three credit bureaus every twelve months or any time you qualify for a free copy under federal laws.

However, relying on the annual free credit reports may not be enough for some people. For some individuals, a lot of things may have already happened in twelve months, defeating the credit report advice’s purpose to regularly review one’s credit file and information. In twelve months, your credit score may already be rock bottom because there are a couple of new accounts opened on your name without you knowing it. In these twelve months, you may already be a victim of identity theft, and you are not even aware of it.

This is why all of the three credit bureaus have developed their own offers to help you follow the golden credit report advice of frequently reviewing your credit information. Equifax, Experian, and TransUnion have all made their own offers to help and protect you from identity theft and low credit scores.

What you must first know, though, is that these companies would have to implement a fee when providing their credit reports to you, as the federal law specifies in the Fair Credit Reporting Act that an individual is only allowed to get one copy of a credit bureau’s report in every twelve months. This means that you only get to avail your free credit report from Equifax, TransUnion, and Experian one time each, per twelve months period – the very reason why individual credit reports can be purchased at individual agencies.

For example, Equifax offers unlimited access to its credit report for $11. This service will allow you to view your report and its every movement and activity for thirty days. Experian also has the same offer, but only for $10 monthly.

Another common service of these three agencies provide close monitoring of all three of your credit reports, following the valuable credit report advice to closely watch your information against identity theft and inaccurate details on your files. These 3-in-1 reports will give you easier access on all of your information, as they are all listed down on a single page, where you can easily compare the data recorded on every report, making it easier for you to detect any errors which, common knowledge and credit report advice experts would tell you to dispute and fix right away.

Aside from these, the credit reporting agencies can also do the monitoring for you. Using their resources, they would regularly look for malicious activities that used your information and key changes in your credit report. When they found evidence of such happening, they will alert you immediately so you can seek professional credit report advice on dealing with such events and prevent any worse damages unauthorized movements in your accounts may cause you.

So, if you are looking for more ways how you can protect yourself and your finances, one good credit report advice would really be to seek professional help and monitor your information as closely as possible. With the great number of ways available to you now, you shouldn’t hesitate about security anymore.

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