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Why Mint Credit Monitoring is Vital for Better Personal Security

For most of us, it’s normal to run a quick credit check once a year using a free site that gives basic information. While this method alerts you of your current score, it does nothing for your overall security and risk assessment. You don’t get to see what’s affecting your score or what items on your report are a disadvantage to your overall financial well-being. This is where credit monitoring comes into play and, while it costs a small fee each month to its users, it is beneficial in many finance-related ways.

Who is Mint?

Mint was created in 2006 by Intuit’s Aaron Patzer and has since grown to be one of the world’s leading credit monitoring companies. Mint offers monthly credit monitoring services at a low fee, allowing even those on strict budgets to keep track of their FICO scores from all three reporting bureaus and obtain superior identity theft protection all on one account.

What is Credit Monitoring?

Credit monitoring allows you to run credit checks on yourself all throughout the year without any affect to your score. Monitoring also gives you insight into any identity theft or fraud that might be going on when you are not physically aware of it. Instead of getting separate reports from Equifax, TransUnion and Experian, you’ll receive reports from all of these bureaus on one clean and easy-to-understand statement.

How Does Mint Credit Monitoring Work?

Mint makes it easy for you to take credit monitoring to the next level. Not only will you be able to run credit checks on yourself at virtually any time, but you’ll get a clear picture of what’s on your report and what is positively or negatively affecting your numbers. Along with this much-needed information, Mint provides a full layer of protection to your credit to prevent identity theft.

Identity theft is the fastest growing crime in America with more than nine million identities stolen each year. Mint can detect if your credit score is being checked by an external source and if a new item has been added to your account, such as a credit card, and they will send you alerts if something looks suspicious. Oftentimes, identity theft goes undetected for months or even years, so this is an important step in preventing it from happening altogether.

What Happens if Your Identity is Stolen?

Typically, a person steals another’s identity to open credit cards or take out bank loans. When your identity is stolen, not only is it devastating to your credit score, but it can take years to clear up. In fact, a typical identity theft case takes anywhere from five to seven years to remediate. If your FICO score was excellent before being used fraudulently, it could be left in the poor or bad range when the thief is finished with it.

Alerts and Mobile Access

Mint has made it easy for clients to have full access to their credit score and report information at all times. They offer an easy-to-use downloadable iOS and Android app as well as account sign-in through their website. Mint has implemented only the best security technology into their apps, providing users with added security when checking sensitive information on the go.

If there is suspicious activity on your account or a change in your credit score, you’ll receive an alert from Mint immediately. You can sign up for text and email alerts through the settings tab on their site. Mint allows you to pay monthly or annually for their services, whichever is more beneficial to your budget.

Signing up for an account on Mint is quick and easy, and it gives you the extra security you need in a time when identity theft is at an all-time high. Unlike generic credit check sites like Credit Karma and Credit Sesame, Mint gives you the opportunity to thoroughly research your FICO score and risk factors that come into play if your score should ever change. Mint representatives are available around the clock to answer any of your comments or questions regarding their services. You can cancel your account at any time, but partial month refunds are not available for middle-of-the-month cancellation.