You’ll often hear that credit monitoring services (CMS) aren’t worth the expense. After all, with free access to credit reports from the three credit reporting companies, you have every opportunity to monitor your own credit. Plus, there’s not much these services can or will do to prevent an occurrence of fraud or identity theft. So, for many people, they may not provide a sufficient enough value. But, if you’re in a position where you need to stay on top of your credit (i.e. preparing to qualify for a home loan, repairing your credit), credit monitoring services can be an extremely good value.
Here are five reasons why you should consider using a credit monitoring service:
The information provided is not intended to be legal, tax, or financial advice or recommendations for any specific individual, business, or circumstance. TowneBank cannot guarantee that it is accurate, up to date, or appropriate for your situation. Financial calculators are provided for illustrative purposes only. You are encouraged to consult with a qualified attorney or financial advisor to understand how the law applies to your particular circumstances or for financial information specific to your personal or business situation.