Why is WalletHub the best credit monitoring site?
WalletHub is the best free credit monitoring service because it’s the only one that lets you enable SMS credit alerts, in addition to standard email notifications. WalletHub also is the only site with free credit reports and scores that are updated on a daily basis. So you’ll always have the latest info about your wallet’s wellbeing.
|Service||Email Alerts||SMS Notifications||Free Daily Credit Reports||Free Daily Credit Scores|
Check out the full comparison of 2018’s best credit monitoring services to learn more about the top options.
What does credit monitoring do?
WalletHub's 24/7 credit monitoring service will alert you when information on your TransUnion credit report changes. This allows you to review each change, determine whether it’s accurate and make sure it’s not a sign of identity theft. In other words, WalletHub’s free credit monitoring helps keep your wallet safe by keeping you informed. And in addition to providing peace of mind, the ability to keep tabs on your credit information without the typical time commitment or hassle frees you up to take other steps toward top WalletFitness®.
Why is credit monitoring important?
Credit monitoring is important because it’s physically impossible to keep ‘round-the-clock watch on our own credit reports. Reviewing notifications, on the other hand, is easy. And knowing what’s on your credit report is essential, given how frequently data breaches occur and how much a lack of attentiveness can cost you. So if there’s a free service that can perform a necessary task that you can’t do yourself, you might as well embrace it, right?
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.
Why is my SSN needed?
We can't locate your credit report or ensure that other people are prevented from accessing your information without your SSN. The good news is that we should be able to do all of that with just the last four digits.
Will 24/7 credit monitoring hurt my credit?
No, credit monitoring will not hurt your credit because there is no hard inquiry involved. This service was actually designed specifically to help prevent credit score damage and otherwise protect your personal information. In other words, credit monitoring itself poses no threat, and we'll do our best to tell you about any changes to your credit report which could.
How will I get credit monitoring alerts?
WalletHub will immediately notify you about important changes to your credit report via email. If you’re worried about missing notifications, you can also enable text message alerts in the Settings section of your WalletHub account.
Learning about credit report changes as soon as possible is extremely important because it allows you to take action, if necessary, before any problems can get out of hand. For example, you might respond to one credit monitoring alert by simply confirming that you recognize the change. But another alert might warrant notifying creditors about potential fraud or putting a freeze on your credit reports.
For more information about credit monitoring and its benefits, check out this WalletHub guide.