Why Having a Credit Monitoring Service Is Important
Find out how to make credit report disputes to the three major agencies. 60 Minutes: Experian Vs Transunion Vs Equifax "A mistake on your credit report can cost you money," Kroft noted, citing loan interest rates, car financing, mortgages, and even job searches or security clearances.
A new government study concluded that 40 million Americans have mistakes on their reports, and about half of those mistakes are serious. A 60 Minutes investigation found that it is almost impossible in some cases to get those mistakes cleared up. Experian, Transunion, and Equifax are the three companies that dominate the credit reporting market, tracking the financial prowess of US consumers.
Now that we have taken a look at some of the nasty elements of identity theft, we can glance at the importance of having a professional credit monitoring service to keep a watchful eye over your financial institution:
2. Snowball your debt payments Take a long, hard look at all your credit cards. Pay particular attention to the one with the lowest interest rate. Have you reached the maximum limit on that card? If not, consider transferring a higher-interest bill to that one. Many credit cards for bad credit even permit this, and it's positively Foolish to trade an 18% debt for one at 12%.
60 Minutes: Fair Credit Reporting Act Mike DeWine, the Ohio attorney general, is investigating the credit reporting industry as well, and he thinks the findings are only going to make consumers more angry. He believes that the companies are violating the Fair Credit Reporting Act.
You gain the advantage of the identity theft protection that goes side by side with a credit monitoring service. The proper measures can be apportioned here by both you and your credit monitoring agency to terminate the identity theft in its infantile stages. For the criminal parasites that might try and attach themselves to your healthy credit report; they will exposed by the unauthorized user updates that you receive. Again, this leverages you to properly and effectively stop the crime before it gets out of hand. Lastly, there is the overall sense of well-being that goes along with knowing that there is a professional out there that's got your back in terms of you and your family's financial well-being.
60 Minutes: Credit Report Customer Service About eight million consumers file disputes every year, visiting the credit reporting websites to begin the process, if they can first navigate sales pitches for financial products offered by the companies. Steve Kroft called a customer service number and got a call center in India, where he was not given much help after a 15-minute phone call to a toll-free number. What about that post office box number? According to Kroft, "it's extremely unlikely that anyone with the authority to resolve your dispute will ever actually see it."
Find out how to make credit report disputes to the three major agencies. 60 Minutes: Experian Vs Transunion Vs Equifax "A mistake on your credit report can cost you money," Kroft noted, citing loan interest rates, car financing, mortgages, and even job searches or security clearances.
A new government study concluded that 40 million Americans have mistakes on their reports, and about half of those mistakes are serious. A 60 Minutes investigation found that it is almost impossible in some cases to get those mistakes cleared up. Experian, Transunion, and Equifax are the three companies that dominate the credit reporting market, tracking the financial prowess of US consumers.
Now that we have taken a look at some of the nasty elements of identity theft, we can glance at the importance of having a professional credit monitoring service to keep a watchful eye over your financial institution:
2. Snowball your debt payments Take a long, hard look at all your credit cards. Pay particular attention to the one with the lowest interest rate. Have you reached the maximum limit on that card? If not, consider transferring a higher-interest bill to that one. Many credit cards for bad credit even permit this, and it's positively Foolish to trade an 18% debt for one at 12%.
60 Minutes: Fair Credit Reporting Act Mike DeWine, the Ohio attorney general, is investigating the credit reporting industry as well, and he thinks the findings are only going to make consumers more angry. He believes that the companies are violating the Fair Credit Reporting Act.
You gain the advantage of the identity theft protection that goes side by side with a credit monitoring service. The proper measures can be apportioned here by both you and your credit monitoring agency to terminate the identity theft in its infantile stages. For the criminal parasites that might try and attach themselves to your healthy credit report; they will exposed by the unauthorized user updates that you receive. Again, this leverages you to properly and effectively stop the crime before it gets out of hand. Lastly, there is the overall sense of well-being that goes along with knowing that there is a professional out there that's got your back in terms of you and your family's financial well-being.
60 Minutes: Credit Report Customer Service About eight million consumers file disputes every year, visiting the credit reporting websites to begin the process, if they can first navigate sales pitches for financial products offered by the companies. Steve Kroft called a customer service number and got a call center in India, where he was not given much help after a 15-minute phone call to a toll-free number. What about that post office box number? According to Kroft, "it's extremely unlikely that anyone with the authority to resolve your dispute will ever actually see it."
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