I’ve given talks on Identity Theft for many years. In those presentations I have always brought up the topic of monitoring your credit reports as an early detector of potential fraud. There are many more reasons to do this as prevention is far cheaper than treatment. See Spotting Credit Trouble
There a various companies that will monitor this for you monthly for a fee. Alternatively you can go to annualcreditreport.com (not to be confused with the other claim to be free credit score companies) and pull a free report from each of the credit agencies: Equifax, TransUnion, and Experian once a year . I recommend you tie this annual task to a date you can remember such as your birthday.
I recently was introduced to a new free service: www.creditkarma.com
Their site offers:
1. Check multiple free credit scores, including your TransRisk Score, VantageScore and Auto Insurance Score, as often as every day.
2. Enroll in free credit monitoring. You’ll be notified via email if anything important changes in your credit report.
3. See how each factor in your credit affects your score in your free Credit Report Card.
See the linked review from Clark Howard’s website
My initial assessment is that I like having access to a free daily monitoring service and look forward to seeing how it evolves. As this information is being pulled just from TransUnion, I will continue to pull my annual reports to ensure all 3 ratings agencies are accurate and up to date.
Weblinks are provided as a courtesy. Clark Howard is not affiliated with LPL Financial.