When you have a good or excellent credit score, more financial opportunities open up for you. You’ll be more likely to get low-interest loans and credit cards while sailing through the mortgage application process. Unfortunately, many forgo routine credit monitoring that can alert them of changes to their numbers, fraud, identity theft and mistakes made on their report. Experian offers a broad range of services that assists both individuals and companies with their own individualized credit monitoring.
How to Monitor Credit with Experian
You’re allowed to check your score with Experian once a year without being charged and without it affecting your numbers. If you’d like to have more routine access to your report, Experian offers a monthly service that you’ll need to pay for. The amount you pay for this service is a lot less expensive than what other companies charge, and many have found that you have more tracking features with Experian.
Why It’s a Good Service
Credit monitoring through Experian helps you identify issues that might be concerning to your financial standing. If someone steals your identity or makes purchases using stolen credit cards in your name, these will show up immediately on your report. If you only check your score once a year, you could be ignorant to what’s going on. Credit monitoring is also advantageous when checking for errors on your report. Let’s say that you close out a cellphone account and months later, you notice that it’s showing as delinquent on your Experian account. This can be rectified immediately with Experian as opposed to noticing it a year later.
Identity Theft and Fraud Protection
Experian has highly-alert technology in place to check for fraud and identity theft. This technology knows if there is something fishy going on with your account, such as multiple credit cards being opened in a short period of time or loans being taken out in banks that are nowhere near your home address. You will receive alerts if there is suspicious activity on your account, allowing you to take appropriate action. Apart from receiving alerts, Experian has a one million dollar insurance policy put onto every account created on their site. If you should experience loss as a result of their credit monitoring service’s inability to detect fraud, you have a large amount of protection to cover those losses.
As many as nine million Americans have their identities stolen every year. It is the fastest growing crime in the United States, making it a real issue for people who are trying to grow their credit and avoid the problems that come with resolving fraud. When you are effected by identity theft, your whole world is turned upside down. It is not as simple as calling your bank and telling them to stop all payments. People with your social security number and other sensitive information can open credit cards and other accounts in your name and you’ll never know where these charges are coming from because nothing is attached to your bank account. This is why Experian credit monitoring is so important as it gives you insight into what’s been opened in your name illegally and full protection from this ever happening to you in the first place.
24/7 Monitoring Services
Experian monitors your credit 24 hours a day. If there is a change, you’ll immediately receive an alert via email or text message to take appropriate action. Experian allows you to dismiss certain alerts to avoid their fraud protection preventing accounts from being opened. If you should open a credit card, you’ll receive an alert and can dismiss it if it was you who opened the account. They work with all three credit reporting bureaus to provide you with comprehensive credit assessment.
Customer service with Experian is top notch and far superior to other companies offering similar services. You can contact them via email, telephone or snail mail. All documents sent to you regarding your Experian account will be secured and safeguarded from identity theft. Their goal is to provide only the best credit monitoring to their clients at an affordable rate. They understand that monitoring for changes to your credit report is the first step in reducing the likelihood of fraud. After all, you can’t do anything about identity theft if you don’t know that it’s happening to you.