With stories of identity theft surfacing daily, it’s no wonder that consumers want to be able to keep an eye on their credit reports from Experian, TransUnion, and Equifax.
But there can be a hidden problem with these credit monitoring services. Each time your credit is checked by a third party, it lowers your credit score a little. If you personally check your credit, there is no impact.
The problem is that some of these credit monitoring services allow you to check your credit daily, and they count as a third party check. That means every time you check your credit, you’re lowering your credit score.
Read moreCredit monitoring services doing more harm than good?