What is a credit monitoring service?

A credit monitoring system monitors a consumer’s credit reports for signs of possible fraud. Credit monitoring services notify consumers when new information, such as a new account or credit inquiry, shows up on one or more of their credit reports. Consumers can then follow up and make sure the new information is legitimate. Consumers can also use a credit monitoring service to keep track of their credit scores, a feature that can be useful for someone who plans to apply for a mortgage or other credit-based loan in the next few months to a year.

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