Harv's Corner 07/22/2024

Harv's Corner

This is the Third of 4 weekly releases. 
​
Hi, In Harv's corner, we're heading back to school.
​In this third of four releases, I will discuss the importance of monitoring your credit and provide directions on how to do it quickly and easily. If you need help implementing or understanding the instructions, please call me at 651-336-1626.
​I'll be happy to help in any way I can.
​Stay alert!

​Credit monitoring
is a valuable tool that can help you detect and address potential fraud, identity theft, or errors on your credit reports early on. While not a foolproof solution, it offers additional protection for your financial well-being. Here's why it's important and how to get started:
​
Importance of Credit Monitoring:

Early Fraud Detection: 
Credit monitoring alerts you to suspicious activity, such as new account openings, hard inquiries, changes in personal information, or unusual credit utilization, allowing you to take immediate action.
Identity Theft Protection: 
If someone tries to use your information to open new accounts or make unauthorized purchases, you'll be notified promptly.
Credit Report Accuracy: 
Monitoring helps you spot errors or inaccuracies on your credit reports that could negatively impact your credit score.
Peace of Mind: 
Knowing your credit is being monitored can provide reassurance and reduce anxiety about potential fraud.
Most Recommended Credit Monitoring Services:
Many reputable companies offer credit monitoring services with varying features and pricing. Some highly recommended options include: IdentityForce: 
Comprehensive identity theft protection with credit monitoring, dark web monitoring, and identity restoration services.
Norton LifeLock: 
Offers various plans with credit monitoring, identity theft protection, and other features like VPN and antivirus software.
IDShield: 
Provides credit monitoring, identity theft protection, and legal consultation for identity theft victims.
Experian IdentityWorks: 
Offers different tiers of credit monitoring and identity theft protection, including options for family plans.
Credit Karma: 
Free credit monitoring service that provides access to your credit reports and scores from two bureaus (TransUnion and Equifax). It's essential to compare features, pricing, and customer reviews to choose the service that best fits your needs and budget.

How to Get Started with Credit Monitoring:

Choose a Service: 
Research and select a reputable credit monitoring service that offers your desired features.
Sign Up: 
Create an account with the service and provide the required personal information.
Link Your Accounts: 
Connect your bank accounts, credit cards, and other financial accounts to the service for comprehensive monitoring.
Set Up Alerts: 
Customize alerts to receive notifications for specific activities, such as new inquiries, account openings, or changes to your credit reports.
Review Reports Regularly: 
Even with monitoring, reviewing your credit reports from all three bureaus at least once a year is crucial for accuracy and completeness. By implementing credit monitoring, you can proactively protect your financial identity and take swift action in case of any suspicious activity. Credit monitoring is just one part of a comprehensive identity theft protection strategy. Combining it with other security practices like strong passwords, secure online behavior, and cautious sharing of personal information will strengthen your defenses against identity theft.