Sydney Garth, Credit Cards Moderator
@sydneygarth
Credit monitoring is important because it allows you to receive notifications when your credit has been compromised without you having to monitor it yourself 24/7. It's important to monitor your credit because recovery from identity theft and fraud takes time and a lot of effort. Credit monitoring allows you to keep track of your credit with minimal effort and often zero cost.
In particular, credit monitoring can help in two ways: 1) making it easier to identify and correct credit report mistakes and 2) serving as an early warning system for signs of identity theft. Roughly 1 in 4 credit reports contains an error, according to the FTC. And there were 18 million cases of identity theft in 2015, according to the Bureau of Justice Statistics. In short, it’s a scary world out there, but free credit monitoring can help. You can get free credit monitoring through your WalletHub account along with personalized recommendations for boosting your credit.
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How does WalletHub credit monitoring work?
WalletHub credit monitoring watches your TransUnion credit report 24/7 and notifies you about important changes. This allows you to act on suspicious changes quickly. WalletHub credit monitoring is free, and you can sign up here.
Once you’ve signed up, you will receive credit monitoring email notifications by default, but it… read full answer
show lessHow do the free credit monitoring companies make their money?
They all make money in different ways. For example, some credit monitoring companies offer premium credit accounts in addition to the free standard accounts. The premium credit monitoring services do come with a fee, of course.
WalletHub, for one, makes money from third party advertisers. Rest assured, we are not selling … read full answer
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