Why sign-up for ScoreSense credit monitoring when you are entitled to free credit checks from the credit bureaus once a year? Can regular monthly monitoring using ScoreSense really provide better protection of your identity and credit score? You better believe it.
Some money management experts suggest annual free credit checks from each of the three major credit reporting bureaus provide sufficient protection of your identity and credit score. They suggest spreading the reports out, getting one from a different bureau every four months or so.
Unlike the monthly monitoring service provided by ScoreSense, these single-bureau checks every few months may leave you vulnerable. For instance, if an identity thief tries to purchase a new car using your name, the dealer pulls up a credit report from one of the bureaus. Let’s say the dealer uses Equifax. If you checked your credit through a different bureau, you most likely won’t know anything about it until several months later.
While free credit checks have the advantage of being free, they may not save you money. With ScoreSense credit monitoring, you would know when any of the three credit bureaus were contacted about opening a new line of credit in your name. And you wouldn’t be letting the identity thief get away with a new car in your name for months before you did something about it.
The few dollars you are billed monthly by OTL Scoresense.com for your ScoreSense monitoring service could save you tens of thousands of dollars over the course of a lifetime. Monitoring your credit score and keeping it high gives you access to lower interest rates on mortgages, car loans and credit cards. It also might open the door to better jobs or give you an advantage over the competition by demonstrating your responsible handling of money. More and more employers are factoring credit scores into hiring decisions.
If you want to test the waters with free credit checks, go ahead. Doing something to ensure the safety of your identity and credit scores is better than doing nothing. But don’t be afraid to dive into a three bureau credit monitoring service like the one offered by ScoreSense. In the long run, you can’t lose.
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