How to Protect Yourself From Identity Theft With Credit Monitoring

credit monitoring

With identity theft on the rise and thieves developing methods that are more sophisticated than ever before, it’s crucial to learn how to protect yourself. Many people learn this lesson the hard way after they have been a victim of identity theft themselves. However, it doesn’t have to be that way.

With the help of credit monitoring services, you can take action before it’s too late. If you’ve never used a credit monitoring service before, you might be wondering how it works exactly.

In simple terms, these services regularly check the credit associated with your name, date of birth, and social security number. If new lines of credit are detected and you didn’t apply for them yourself, you will be alerted and given the information you need to take action before your identity is stolen.

Comparing Credit Monitoring Services

While there are many credit monitoring services to choose from, it’s important to select your credit monitor carefully. How can you decide which to choose? Here are some important factors to consider.

Frequency of Monitoring

The frequency with which the automated monitoring checks are performed is definitely of concern. The fact is that so much damage can be done in just one day, and the faster you become aware of a threat to your identity the better. The ideal credit monitoring service performs daily checks, helping you stay up to date and be able to respond as soon as possible.

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The majority of programs charge a fee, whether monthly or annually. When choosing which service best fits your need, it’s important to look not only at the price but also the value you are getting for your dollar. Some banks, such as Capital One, do provide free services with basic features.

Tempting as it may be to save yourself some hard-earned cash, free credit monitoring might not be sufficient if you have investments or assets, such as a 401k. In this case, you would want to take the appropriate steps to secure them. This is where the benefits offered with monitoring systems come into play.

Additional Features

No two services are equal, and for that reason, consider the benefits associated with the plan you choose. You may wish to ponder over which services you most desire and pick a plan from there. These may include dark web surveillance, social security monitoring, and credit checks and identity protection for your minor children.

Besides the aforementioned perks, some services also include identity theft insurance. This benefits victims of identity theft by reimbursing them for the money spent with their credit. It can also protect your 401k and covers legal fees if you choose to pursue legal action.

Safeguard Your Identity and Peace of Mind

With an adequate credit monitoring service, you’ll never bear the brunt of protecting your identity. You can rest easy knowing that your identity is safe and sound, out of the hands of pesky thieves.

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