Do It Yourself And Hire A Credit Monitoring Company

Every year, about 10 million Americans fall prey to identity thieves. Approximately $50 billion dollars are lost through this kind of insidious theft. There are 3 major credit bureaus that monitor and process all activities. Hiring a credit monitoring company can help keep you, your money and your life, safe.

There are businesses that can help you this way. They check the bureaus and their reports to see if there is anything unusual happening in your accounts. A case in point, for unusual activity might be a newly submitted application or perhaps an account opening. This is not a perfect system, though. If you have an account that has been unused for awhile and then suddenly shows activity then the report may not show this as suspicious.

A company that monitors financial information in this way can only go by numbers on a screen or a piece of paper. They may not notice that an account that has been dormant for months is now suddenly active. To do your on check you can order monthly reports from the 3 bureaus that will show up all in one report. The first one is free and after that you will need to pay for each report.

If you do find a problem notify one of the bureaus. They are all connected so their reports will reflect any suspicions. At that point, they must provide you regular reports until any irregularities are corrected. You may want to consider a freeze on all your cards as well.

The unfortunate truth with thieves of this sort is that they are often more lucky than clever. A report in 2010 says that faulty codes and configuration mistakes on computers make it much easier to break into a data base. Most of the time, hacker just kept trying different passwords until they were let into the account. This seems obvious but, security personnel often didn’t check log in volumes and credentials.

If you suspect that a company you gave your information to, has had a data breach, you may want to ask if they will do a monitoring report for you. This will allow you to track any changes on your account (with them) and possibly find the source of a theft (if any).

This is an important point to remember: Every time you apply for a loan it gets recorded with the bureaus. If you are turned down that gets recorded as well and your credit score goes down. This is something to keep in mind when checking with the credit bureaus. If you think your report is inaccurate then file a complaint and dispute it. Your credit score is a vital financial asset and will follow you around through your life. So take control.

Click here for more information on Credit Monitoring and Credit Score and Free Credit Report

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