Comments on: Credit monitoring services doing more harm than good? http://www.sequenceinc.com/fraudfiles/2007/09/29/credit-monitoring-services-doing-more-harm-than-good/ Wed, 17 Mar 2010 18:41:02 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Debt Consolidation Lowdown » Blog Archive » Carnival of Debt Management #25 http://www.sequenceinc.com/fraudfiles/2007/09/29/credit-monitoring-services-doing-more-harm-than-good/comment-page-1/#comment-120763 Debt Consolidation Lowdown » Blog Archive » Carnival of Debt Management #25 Mon, 01 Oct 2007 09:11:54 +0000 http://www.sequence-inc.com/fraudfiles/2007/09/29/credit-monitoring-services-doing-more-harm-than-good/#comment-120763 [...] Coenen presents Credit monitoring services doing more harm than good? posted at Sequence Inc. FRAUDfiles by Tracy [...] [...] Coenen presents Credit monitoring services doing more harm than good? posted at Sequence Inc. FRAUDfiles by Tracy [...]

]]> By: Scipio http://www.sequenceinc.com/fraudfiles/2007/09/29/credit-monitoring-services-doing-more-harm-than-good/comment-page-1/#comment-120487 Scipio Sun, 30 Sep 2007 15:06:52 +0000 http://www.sequence-inc.com/fraudfiles/2007/09/29/credit-monitoring-services-doing-more-harm-than-good/#comment-120487 Most of the main benefits of credit monitoring services can be done for free by each individual. You mentioned the free annual credit report but consumers can also opt out of all unsolicited credit offers for no charge by contacting all 3 agencies. I haven't received a credit card offer in 3 years or so. Consumers can also initiate a fraud alert for free by contacting each credit agency. This will probably result in being contacted anytime someone runs a credit report on you. A little more draconian, and only available in states who have passed legislation to allow it, is the option to lock your credit report. This works well for people who either don't need any new credit or only need it occasionally. Essentially, no one can run a credit report on you except yourself. That virtually eliminates any possible id theft. It is possible to either temporarily or permanently lift the lock. I believe there is a nominal charge ($10 or so), but it's a lot cheaper than paying a monthly service charge. Check the web sites of the 3 agencies for details. Most of the main benefits of credit monitoring services can be done for free by each individual. You mentioned the free annual credit report but consumers can also opt out of all unsolicited credit offers for no charge by contacting all 3 agencies. I haven’t received a credit card offer in 3 years or so.

Consumers can also initiate a fraud alert for free by contacting each credit agency. This will probably result in being contacted anytime someone runs a credit report on you.

A little more draconian, and only available in states who have passed legislation to allow it, is the option to lock your credit report. This works well for people who either don’t need any new credit or only need it occasionally. Essentially, no one can run a credit report on you except yourself. That virtually eliminates any possible id theft. It is possible to either temporarily or permanently lift the lock. I believe there is a nominal charge ($10 or so), but it’s a lot cheaper than paying a monthly service charge.

Check the web sites of the 3 agencies for details.

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