Should You Pay for Credit Monitoring?
On the social-networing site Twitter someone asked for Kiplinger's recommendation for the best credit-monitoring service.
On the social-networing site Twitter someone asked for Kiplinger's recommendation for the best credit-monitoring service. Our response: None of them.
We don't have a problem with the credit-monitoring services offered by the three credit bureaus -- Equifax, Experian and TransUnion. What we don't like is the price you have to pay.
Instead of forking over nearly $15 a month (or more) to see your credit report and get e-mail updates of changes in your report, you can get free annual credit reports from each of the three credit bureaus at www.annualcreditreport.com. Just stagger the reports so that you get one every four months.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
If you're worried that you're a victim of identity theft, call TransUnion or Equifax to put a fraud alert on your account. That bureau will notify the other two, and all three will send you free credit reports. The Privacy Rights Clearinghouse recommends that you DON'T contact Experian because it will pitch you its "free" credit management tools that you'll be charged for if you don't cancel the service in 30 days.
The fraud alert will last only 90 days. But you can extend it up to seven years if you have an identity theft report filed with the police and evidence that someone tried to open fraudulent accounts. If you're an identity-theft victim, you can ask the credit bureaus to freeze your credit report for free. The freeze prevents lenders from seeing your credit report unless you specifically grant them access. This can stop identity thieves from taking out new credit in your name, even if they have your Social Security number and other personal information.
To continue reading this article
please register for free
This is different from signing in to your print subscription
Why am I seeing this? Find out more here
Award-winning journalist, speaker, family finance expert, and author of Mom and Dad, We Need to Talk.
Cameron Huddleston wrote the daily "Kip Tips" column for Kiplinger.com. She joined Kiplinger in 2001 after graduating from American University with an MA in economic journalism.
-
What Is a Debt-to-Equity Ratio and How Can Investors Use It?
A debt-to-equity ratio is a way to measure how solid a company's financial position is. Here, we take a closer look at what it is and how investors can use it.
By Coryanne Hicks Published
-
Three Gen X Retirement Mistakes for Millennials, Gen Z to Avoid
Many Gen Xers haven’t prioritized saving for retirement and face a crisis as the first generation to retire without substantial support from pension plans.
By Tiffani Potesta Published
-
5 Ways to Save Money on Vacation Rental Properties
Travel Use these strategies to pay less for an apartment, condo or house when you travel.
By Cameron Huddleston Last updated
-
10 Annoying Hotel Fees and How to Avoid Them
Travel Here's how to avoid extra charges and make sure you don't get stuck paying for amenities that you don't use.
By Cameron Huddleston Last updated
-
How to Appeal an Unexpected Medical Bill
health insurance You may receive a bill because your insurance company denied a claim—but that doesn’t mean you have to pay it.
By Rivan V. Stinson Published
-
Amazon Prime Fees Are Rising. Here’s How to Cancel Your Amazon Prime Membership
Amazon Prime Amazon Prime will soon cost $139 a year, $180 for those who pay monthly. If you’re a subscriber, maybe it’s time to rethink your relationship. Here’s a step-by-step guide to canceling Prime.
By Bob Niedt Published
-
How to Haggle for Almost Anything
Smart Buying Learning how to haggle is an invaluable skill. These strategies will help you negotiate a better price for just about any product or service.
By Katherine Reynolds Lewis Last updated
-
Disability Insurance Can Provide COVID Coverage
Coronavirus and Your Money If you are concerned about long-term complications from COVID-19, consider disability insurance coverage.
By Rivan V. Stinson Published
-
21 Things You Can't Return to Amazon
Before tossing these items into your virtual shopping cart, be sure to read Amazon's return policy first.
By Bob Niedt Last updated
-
How to Avoid a Charity Scam
personal finance Scammers never quit, even when you're trying to be altruistic. But you can avoid getting duped if you do your homework.
By Rivan V. Stinson Published