subject: How Credit Monitoring Protects Your Identity [print this page] Identity theft is a growing crimeIdentity theft is a growing crime. Protecting your identity is the only way you can ensure that you do not become a victim yourself. According to the Federal Trade Commission, credit monitoring is actually one of the most effective ways to protect your credit. By detecting changes to your credit report, bank accounts, and activity on you credit cards, you can ensure identity protection for yourself.
Credit monitoring is also referred to as identity protection. This is the detailed process of monitoring your credit report, bank statements, and even credit card statements. Credit reports basically outline your financial activity since the day you began to use your credit. You can monitor any changes on your credit report that can include new accounts, inquiries made, and even accounts that become past due or have an increasing balance.
By using credit monitoring, you are in constant watch of your credit and identity activity. Anytime you realize there is a change, you are on top of it figuring out just what it is and making any changes needed to correct it. You should always be aware of any activity that is happening around your credit. Always check your financial accounts to ensure there is no suspicious activity. The earlier you can detect theft, the faster you can repair it.
You can use credit monitoring for identity protection in several ways. You can access your own credit report free one a year, or you can purchase a service that gives you access to your credit report as much as you like. You can also hire a private company to monitor your credit and perform identity protection measures for you. Though this is a helpful thing to use, always investigate any identity protection firm prior to signing up with them.
