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» TrueCredit Monitoring: Protecting Your Assets

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TrueCredit by TransUnion

TrueCredit by TransUnion

TrueCredit is a three bureau credit monitoring service provided by TransUnion which monitors a customer’s credit rating. The service provides unlimited scores and reports for $15. a month. This review provides an overview of the service looking at the pros and cons to help you decide whether this service would work for you.

Credit scores and your credit history affect everything these days. Having a good credit score affects where you are able to live, whether you can buy a new car or what you will be paying for car insurance.

TrueCredit features

TrueCredit provides a three bureau monitoring service with access to credit reports and scores. This service provides access to all credit reports from TransUnion, Experian and Equifax and ‘VantageScore’ credit scores.

The ability to update your TransUnion report or score once per day.

If there are any credit report changes such as new accounts, inquiries, late payments etc., the service contacts you within 24 hours.

The layout of the reports is well organized and easy to read.

Provides a trends section which provides a quick look at your credit history with details on available credit to total debt, which can be very helpful when figuring out your financial health. It’s like a report card on your financial background.

It is easy to cancel the service if you decide it does not work for you.

Checking on your credit history with the service does not affect your credit score.

The well designed web site shows you where you stand against other consumers and what potential lenders will see about your credit worthiness.

Offers a TrueCredit Lock service which is similar to a credit freeze but there is no additional charge and it only keeps people from being able to see your TransUnion credit report. This can be important for a variety of reasons but most importantly in can keep individuals bent on stealing your identity from obtaining credit cards or loans in your name. If you are applying for a new credit card or loan you can simply unfreeze the account to allow access and then refreeze it afterward.

Provides identity theft insurance up to $25,000 provided by AIG.

Web site is well designed and provides important informational articles on identity theft, and financial services. You can get to some of this information free on the site even if you are not a subscriber.

The cons

Unlimited reports translates to updates every thirty days.

The service does not provide estimated FICO scores but instead provides proprietary VantageScores which are not the industry standard.

You will get unsolicited advertising and emails from TransUnion once you sign up for the service.

The jury is still out whether consumers really need credit report monitoring as it is possible to monitor your own credit scores yourself for free. This does take time and diligence, something you have to decide yourself versus the $15.00 a month charge.

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