Reader Question: What service is best for protecting my identity and monitoring my credit?

Posted by Joe on July 10th, 2008

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Q: I would like to monitor my credit and make sure my identity is protected as well. Which service is best for me?

A: If you want to protect your identity and get access to your credit report and score, then Identity Guard is likely the best service for you.

There are two types of identity theft protection services that we have reviewed. First are preventative services, such as LifeLock, which take steps to actively prevent identity theft. Preventative services typically use tools like credit report fraud alerts to catch identity thieves in the act.

The second type of identity theft protection providers we have reviewed are detection services. Detection based services monitor your credit report, and sometimes other databases, and will alert you to suspicious activity that may be the work of an identity thief. Many of the detection based identity theft protection services we have reviewed will also provide subscribers with access to credit report data from one or all of the credit bureaus.

Identity Guard is the best of the detection based identity theft protection services we have reviewed. It actively monitors your credit report from all three credit bureaus, as well as thousands of other databases. If any suspicious activity is found, you will be automatically notified by email. This service also provides you with your credit report and score from each of the three credit bureaus every quarter.

New subscribers also receive a free copy of ZoneAlarm’s Internet security software, which includes several tools that will keep your PC and identity safe online. Plus, it comes with a free 30 day trial so that you can try it out without any risk.

You can learn more about credit report monitoring and identity theft protection by visiting the appropriate section of our site.

• NextAdvisor reviews Identity Truth
• Reader Question: Am I entitled to a free credit report each year?
• ID Watchdog identity theft protection service review
• Identity Theft Shield from Kroll and Pre-Paid Legal Review
• Keep your credit purring like the engine of your car

Data Breach Alert: 2,000 investment firm clients, including Supreme Court Justice Stephen G. Breyer, impacted by file sharing breach

Posted by Caitlin on July 9th, 2008

Just over six months ago, an employee of a McLean investment firm inadvertently exposed private company files while using LimeWire. This breach exposed the names, dates of birth and Social Security numbers of about 2,000 of the firm’s clients, including Supreme Court Justice Stephen G. Breyer and a number of high-powered lawyers. The breach was not discovered until a LimeWire user came across the information in June. Last week the firm notified affected clients and offered six months of free credit report monitoring.

LimeWire and other file sharing programs can be configured to allow access to all or part of a user’s documents. Many data breaches are unintentionally caused by these types of programs.

If you are concerned about identity theft, you may want to consider subscribing to an identity theft protection service.

• Data Breach Alert: College students receive social security numbers of classmates over email
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• Data Breach Alert: Stolen laptop leaves thousands of Connecticut State students exposed
• Data Breach Alert: Millions at risk for identity theft due to supermarket chain data breach
• Data Breach Alert: Thousands of Dominican University students impacted in secure file breach

A foreclosure on your credit report can make renting an apartment nearly impossible

Posted by Caitlin on July 3rd, 2008

As foreclosures rise, former homeowners with blemished mortgage histories are flooding the rental market. Unfortunately, landlords are often hesitant to rent to applicants whose credit reports show a history foreclosures, short sales (when a house is sold for less than the amount owed on the mortgage) or deed-in-lieu of foreclosure (when a homeowner gives up a house to the lender to end the foreclosure process). Rental applicants with other credit problems such as overextension on existing credit lines or public records related to collections are often rejected by landlords as well. Some landlords will conditionally accept applicants with questionable financial stability, asking for an extra month’s rent up front, a larger security deposit or a co-signer.

Trish Lynch, a trainer and former credit counselor at ClearPoint Financial Solutions, suggests that homeowners who are facing foreclosure start looking for a rental before the foreclosure process is completed, since lenders can’t report foreclosures to credit reporting bureaus until the procedure is finished. “You want to look for the rental before the foreclosure hits your credit report,” she said. “Because after that, it becomes much harder to find a rental.”

If you are concerned about your credit history, a credit monitoring service can keep you informed about any changes to your credit, and even help you determine the best strategy for improving your credit score.

• Reader Question: Which credit score do lenders use?
• Reader Question: Am I entitled to a free credit report each year?
• Equifax offers free 3-in-1 credit report and 3 bureau credit report monitoring
• Reader Question: How do I get my FICO score for free?
• Keep your credit purring like the engine of your car

Lost laptop computers may cost you more than you realize

Posted by Caitlin on July 2nd, 2008

The recent Ponemon Institute survey, commissioned by Dell, sheds light on just how many laptops are lost or stolen at U.S. airports. At 36 major airports, lost laptops total more than 10,000 a week. When smaller airports are taken into account as well, the total number of lost laptops rises to 637,000 a year. Laptops are most frequently lost at security checkpoints. Less than 35% of those lost laptops are ever recovered.

Unfortunately, despite the fact that 53% of travelers surveyed said that their laptops contained confidential company information, 65% make no attempt to protect that information. 77% said they would have no hope of recovering a laptop lost at the airport, and 16% wouldn’t even try.

The U.S. Federal Trade Commission recommends using tracking devices like Absolute Software’s LoJack, which can help track down the location of a stolen laptop.

There are many services that can help ease the inconvenience and potential risk that occur when a laptop is lost. An online backup service will ensure that you still have copies of your important files. If you have sensitive personal and financial information stored on your laptop, an identity theft protection service will help prevent and detect identity theft. And if your identity is stolen, a credit monitoring service will alert you regarding any changes to your credit report. When laptop theft and loss is so common, why not take steps ahead of time to prevent some of the worst possible consequences?

• Researchers launch free tracking software for lost or stolen laptops
• Stolen laptop returned to lucky professor
• How to recover from a lost or stolen iPhone
• Data Breach Alert: Stolen laptop impacts Virginia school employees
• Is online data storage the secret to eliminating many data breaches?

The U.S. government contradicts its own advice about Social Security numbers

Posted by Caitlin on July 2nd, 2008

The Federal Trade Commission and the Social Security Administration warn, “Protect your Social Security number. Don’t carry your Social Security card in your wallet or write your Social Security number on a check.” But at least 44 million Medicare insurance cards include the beneficiary’s full Social Security number.

Charlene Frizzera, chief operating officer of the nation’s Medicare agency, said it would be too expensive to change the existing system. “Our advice is, don’t carry it with you unless you know you’re going to need it,” Frizzera said of the government insurance card, despite the fact that the back of the card itself reads, “Carry your card with you when you are away from home.”

8 million Defense Department identity cards used by active duty and reserve forces and their dependents, as well as ID cards issued to military retirees also display Social Security numbers. The Pentagon plans to remove the numbers by 2014.

And when taxpayers use the mail to file their taxes, rather than e-filing, the Internal Revenue Service instructs them to write their Social Security numbers on their checks. While the IRS states that it will not reject checks missing the Social Security number, it has no plans to change the instructions.

A Social Security number alone is all a criminal needs to open fraudulent credit accounts using a victim’s identity. An identity theft protection service is the best way to prevent and detect identity theft. Monitoring your credit report is another way to determine whether an identity theft has opened accounts in your name. And online tax preparation services eliminate the risk of mailing checks to the IRS. When your Social Security number or other sensitive personal information is compromised, you run a far greater risk of having your identity stolen. Taking preventative measures is the best way to avoid becoming a victim.

• None Found

How to read, analyze and dispute your Equifax credit report

Posted by Caitlin on June 30th, 2008

Equifax is one of the three major credit reporting bureaus in the United States.

In this guide we are going to walk through a sample version of Equifax’s online credit report with FICO score. If you don’t already have your Equifax credit report you can get instant online access to an Equifax or three bureau credit report and FICO score at Equifax.com. This service will provide you with a free Equifax credit report, a free FICO credit score and a free trial of a credit monitoring service that will help you keep an eye on any changes to your credit file. Since Equifax offers a 30 day free trial, you can sign up without any risk.

You are also entitled to one free credit report per year from annualcreditreport.com. Keep in mind that credit reports ordered through annualcreditreport.com do not include a FICO score, which is a good indicator of your overall credit health. If you choose to order your Equifax credit report through annualcreditreport.com or purchase a credit report without a FICO score, however, this guide will still be applicable, after the first section.

We will explain how to read each section of the report and how to spot potential errors that may be lowering your credit score and costing you money or impacting your financial life in other ways. Like most of the other credit report and monitoring services, Equifax offers consumers the option to purchase what is known as a “3-in-1″ or “three bureau” credit report which includes information from Equifax, Experian and TransUnion. Keep in mind that if you purchase a three bureau credit report from Equifax, which we strongly suggest since it will give you insight into how lenders view you across all three bureaus, the information from the Experian and TransUnion sections of the report will have been provided by the respective bureaus.

So, even though you will be able to view the information side by side, any disputes on non-Equifax information will need to be taken up directly with the appropriate credit bureau. The first installment of our “How to read, analyze and dispute credit reports” series explains how to review information from Experian, and a future installment will explain how to review information from TransUnion.

With that said, let’s dive right into your Equifax credit report.

Section #1: Credit Score

This section tells you your FICO credit score, explains what factors are affecting your score, what your score means, and how you can improve it.

The score summary section gives you your FICO score, which is a number between 300 and 850, and tells you whether your score falls in comparison to other consumers. It also breaks down the major factors affecting your score.

The section titled “Understanding Your Score” breaks down the reasoning behind your FICO score in more depth, and lists the specific factors that are both hurting and helping your score. This section also offers suggestions on how to mitigate any of the detrimental factors.

The next section explains what your FICO score means to lenders, and how it will impact their perception of your loan risk.

The FICO Simulator is a useful tool that predicts how your score might change over time. The first three tabs let you play with different scenarios to see what actions could raise or lower your score, and the fourth tab advises you on the best strategy for improving your score.

Section #2: Credit Summary

The purpose of this section is to provide a quick snapshot of your current and prior credit history by showing the total number of open and closed credit accounts in your name, your outstanding balances for different types of credit accounts in your name and your history of delinquent accounts.

This section lists a variety of information all of your credit accounts. The types of accounts in this section include:

• Mortgage - this section includes accounts related to real estate that you have purchased.
• Installment - this section includes fixed amount credit accounts such as auto loans. Installment accounts are typically for a fixed amount and are paid off over time.
• Revolving - this section includes revolving credit accounts such as credit cards. They are called revolving accounts because although they may have an upper limit on what can be borrowed at any given time you can use as much credit as you have available.
• Other - this section includes additional accounts that don’t fit into any of the other category types.

For each type of credit account listed above this section will list the following information:

• Total Number - the total number of credit accounts by type that have been reported to Equifax throughout your recorded credit history. This number will include both open and closed accounts. For example, if the count for your installment accounts is ‘2? then it would mean that Equifax has data about two different installment accounts in your name, even if some of those accounts have been closed by you or the creditor.
• Balance - the outstanding balance of all accounts of a particular type. This is what you owe to all the creditors of this particular credit account type according to information reported to Equifax and will be listed as an actual dollar amount.
• Available - the unutilized credit remaining on each account.
• Credit Limit - the maximum amount of allowed credit for each account.
• Debt to Credit Ratio - the percentage of your available credit that you are currently using.
• Monthly Payment Amount - the amount that you pay each month.
• Accounts with a Balance - the number of accounts of each type that carry an outstanding balance.

Here are some important things to look for in this section:

• Make sure that the number of accounts of a specific type, total accounts or total balances don’t seem higher than they should be.

If you see any inaccuracies in any area of the credit summary section you should move immediately to the account history of your credit report which will have more detailed information on an account by account basis. This will help you further investigate whether or not your credit report contains errors.

Section #3: Accounts

The purpose of this section is to provide detailed information on all credit accounts that you have ever opened that have been reported to Equifax.

For each account listed in this section, there will be specific information about the type of account, the current status, dates and payment amounts, and any negative information associated with

This section also includes an 81 month payment history of each account listed that gives potential creditors insight into how you have kept up on your existing accounts. This information is represented graphically to show your account performance in each month.

The information that is reported in account payment history includes:

• * - This account is paid on time and in full.
• 30/60/90/120/150/180 - The number of days the account has been past due.
• CA - This account is outstanding and has been sent to a third party for collection.
• CO - This account is outstanding and the creditor is no longer attempting to collect payment.
• F - Property related to this account has been foreclosed.
• VS - Property related to this account has been voluntarily surrendered.
• R - Property related to this account has been repossessed.
• NR - No data is available for a particular month. This is usually because either the account was not open or the creditor has not reported information to Equifax in a given month.

Here are some important things to look for in this section:

• Make sure that the information in this section is accurate. Pay especially close attention to any information related to delinquency, collections or past due accounts either in the account details area or in the 81 month payment history, as all of these things negatively impact your credit report and credit score.
• Make sure all of your accounts in good standing are represented. Not all creditors report account data to all credit bureaus, so Equifax may not have access to information on all of your positive account information (of course, this means that they may not have access to negative account information as well). If you don’t see an account that you believe to be in good standing listed in your Equifax credit report then contact your creditor and ask them if they report your account information to Equifax.
• Make sure you recognize all of the creditors and accounts listed in this section. Any unrecognized accounts could mean that your financial information may have been compromised and that identity thieves may have opened accounts in your name.

Keep in mind that different creditors report information to Equifax in different cycles so some information, such as the balance listed on your account, may not be totally up-to-date. This is fine as long as you have verified that it is an account that you recognize and that the information listed was accurate at some point in the recent past. If you don’t see this type of information update over time it is a good idea to contact your creditor to see if there are any problems with your account or ask how frequently they report your account information to Equifax.

Section #4: Inquiries

The purpose of this section is to show what companies have requested your credit report from Equifax. This includes inquiries that may impact your credit rating, and inquiries that do not. Equifax treats these two types of inquiries very differently.

Inquiries that may impact your credit rating (hard inquiries):

• Are generated as a result of action taken by you such as completing a credit, insurance, mortgage or other loan application or due to the transfer of an account by the creditor to collections.
• Remain on your Equifax credit report for up to two years.
• Are viewable by creditors when they review your credit report.

Inquiries that do not impact your credit rating (soft inquiries):

• Are generated when a company pulls your credit report to evaluate you for an offer of credit that you have not requested. Pre-approved offers from credit card companies that you receive in the mail are typically generated as a result of a soft inquiry by the creditor who sent the offer to you, for example.
• Have no impact on your credit report or credit score.
• Are not viewable by anyone other than you.

For each inquiry, whether it is a hard or soft inquiry, the following information will be listed:

• The name of the company that requested the inquiry.
• The type of business that company operates. For example, if you filled out a credit card application with your bank the resulting inquiry would be listed as ‘Banks & S&Ls’.
• The date the inquiry was requested.

Here are some important things to look for in this section:

• Make sure that all of the hard inquiries are accurate. If you don’t recognize the name of a company listed in this section then research it to find out whether or not you had actually initiated a credit inquiry with them. Keep in mind that some organizations have consumer brand names that are different than their actual corporate names, so you may not recognize the name listed in the report even if it is a valid inquiry. Searching for the company name in an Internet search engine such as Google or Yahoo is a good way to find out who they are.
• Make sure to take note of the total number of hard inquiries and their dates. Since hard inquires stay on your credit report for up to two years and have some negative impact on your credit report and credit score it is good to be aware of the number and age of hard inquiries that have been reported to Equifax.

If you find hard inquiries that don’t appear to be accurate it is best to contact the company that made the inquiry first. The creditor will be able to research the purpose of the inquiry and assist you with getting it removed from your credit report if it was mistakenly reported to Equifax.

While soft inquiries won’t impact your credit report or credit score in any way, as they are only viewable by you, there are ways to eliminate or at least limit the number of soft inquiries you receive. The fair Credit Reporting Act (FCRA) allows consumers to opt-out of receiving pre-screened offers of credit by calling 888-567-8688 or by visiting optoutprescreen.com.

Section #5: Negative Information

The purpose of this section is to document any information that could hurt your credit score. This includes negative accounts, accounts that have been turned over to a collection agency, and public record information. Public record information includes federal district bankruptcy records, state and county court records, tax liens and monetary judgments that have been levied against you. In some states overdue child support is also reported in this section. Public record items typically will stay on your credit report for 7 to 10 years.

The negative accounts section will list any ‘past due’ accounts that have been reported to Equifax in your name. These include both open and closed accounts. Creditors will typically report a delinquent account to Equifax if it has gone unpaid for at least 90 days, although it can technically be reported sooner.

The collections section will list any accounts that have been turned over to a collection agency by one of your creditors because they believe the account has not been paid as agreed.

The public records section will list information about any bankruptcies, judgments and tax liens.

Here are some important things to look for in this section:

• Make sure that the number and dollar amount of delinquent accounts for each type of credit looks accurate. This is an important area to focus on because errors by creditors or accounts fraudulently opened in your name by identity thieves are likely to become delinquent accounts before they are sent to collections. By catching delinquent accounts early you can prevent them from being sent to collections, which can have a significant negative impact and, often, a higher cost to you.
• Make sure that the number of collections accounts looks accurate. Once an account has been sent to collections it will begin to have a significant negative impact on your credit score. Whether you simply have not been able to pay your bills, the creditor has made a reporting error or you have fallen victim to identity thieves, the collections section should be carefully scanned for accuracy.
• Make sure that any public record items are accurate.

Section #5: Personal Information

The purpose of this section of your credit report is to document your personal information such as name(s), age, address and work history.

The specific information listed in this section includes:

• Full legal name
• Any alternative names you may currently or have previously used to obtain credit
• Social Security number
• Date of birth
• Current and previous addresses
• Current and previous employers
• Any alerts that have been placed on your credit file

Here are some important things to look for in this section:

• Make sure that your name is correctly displayed and that any alternative names or alias are accurate. If there are alternative names listed that you have never used then it could be a sign that Equifax has confused your credit file with that of another consumer with the same or a similar name.
• Make sure your year of birth is accurate. Again, an error in this section of your credit report could mean that you are being confused with another consumer.
• Make sure that there are no addresses where you have never lived or employers that you have never worked for listed in the respective sections. Keep in mind that it may take some time for these sections to update when you move to a new residence or take a new job. For this reason, it is fine if the information is outdated as long as it is still accurate. For example, it is not a problem if you have recently changed jobs and your credit report still lists a former employer as your current employer. However, if your credit report were to show that you currently or previously worked for an employer by whom you were never employed, then you may have a problem.

Section #6: Dispute File Information

If you find information that you believe is inaccurate on your credit report it is important to act quickly as these errors could not only be costing you money, but could also be early warning signs of possible identity theft. Luckily, Equifax makes it fairly simple to dispute any credit report item that you believe to be inaccurate.

From this section of your credit report, you can simply click the link that says, “Click here to begin an online investigation of information found in your file.” This will take you to an online dispute resolution form. Be ready with the confirmation number located at the top of your credit file. When submitting your dispute, provide an explanation as to why you believe that the particular item is inaccurate. You should be as descriptive as possible. Just saying “This is wrong” or something similar will not be sufficient. You should provide specific reasons as to why you believe the information on your Experian credit report is erroneous as well as any supporting evidence that you may have. Equifax will review your request and notify you within 30-45 days of their decision on the dispute. If the dispute is resolved in your favor, Equifax will remove or correct information that is inaccurate or cannot be verified during their investigation.

If you would like to receive the results of your dispute through mail as opposed to email, you should submit your dispute by mail or by phone.

In addition to disputing inaccurate information with Equifax, we strongly suggest that you contact the company that reported the account information to them in the first place. Under the Fair Credit Reporting Act (FCRA) both the credit bureau and the company that reported the information are responsible for the accuracy of account information on your credit report. If you believe that one of your creditors has reported inaccurate information then you should contact them directly. Each company has a different dispute resolution process but it is a good idea to contact their customer service department as a first step, as they will likely be able to provide you with the appropriate steps to take.

Conclusion

Your credit report is like your resume for potential lenders. It gives insight into the positive and negative elements of your credit history based off of information reported by your previous creditors. It is important to not only limit the number of negative items on your report by practicing healthy credit usage habits, but to make sure you have insight into any potential erroneous or inaccurate information as those errors may be costing your thousands of dollars or more.

We invite you to check out our online credit report monitoring service comparison guide where you can learn more about credit reports and monitoring from a variety of service providers.

We hope this guide has been a helpful tool in enabling you to better understand the information on your Equifax credit report and, just as importantly, get a better idea as to how potential lenders may view you. Stay tuned for our next installment where we will cover the specifics of reviewing your TransUnion credit report.

In the meantime, let us know if you have any feedback on this guide or if there are any additional questions you may have about your Equifax credit report by leaving us a note in the comments.

• How to read, analyze and dispute your Experian credit report
• Equifax simplifies online credit reports
• Reader Question: How do I get my FICO score for free?
• Equifax offers free 3-in-1 credit report and 3 bureau credit report monitoring
• 1 million credit scores lowered by Sallie Mae

Reader Question: How do I set a fraud alert on my credit report?

Posted by Joe on June 29th, 2008

Q: I recently lost my wallet which contained my driver’s license, Social Security card and credit cards. How do I go about putting a fraud alert on my credit report?

A: A fraud alert is an annotation on your credit report which lets potential lenders know that you have been, or believe you may have been, victimized by identity theft. They can be an effective tool in preventing identity thieves from opening new financial accounts using your personal information. You can learn more about fraud alerts, their purpose and how to set them by reading our Fraud Alert and Credit Freeze Guide.

Losing a wallet or purse doesn’t just represent and identity theft risk. It also means the hassle of replacing all of the contents such as your driver’s license, Social Security card and credit cards. One of the reasons we recommend LifeLock’s identity theft protection service is because they offer a unique feature called WalletLock. Subscribers that lose their wallet or purse simply have to contact LifeLock and a recovery specialist will work on their behalf to replace all the important documents that were lost or stolen. Just about the only things that WalletLock can’t replace are cash and personal effects, such as family photos.

To learn more bout LifeLock or other identity theft protection service visit our guide to identity theft protection services.

• WalletLock takes the worry out of losing your wallet
• LifeLock receives 5 star rating from NextAdvisor.com
• Reader Question: Are credit bureau fraud alerts still available?
• NextAdvisor.com guide to protecting your identity the LifeLock way
• Debunking the case against LifeLock

Reader Question: Will shopping for a mortgage hurt my credit score?

Posted by Joe on June 23rd, 2008

Q: Is it true that shopping around for different mortgage offers will lower my credit score?

A: Many people believe that shopping around for mortgages, home loans or auto loans can negatively impact their credit score because it requires authorizing multiple lenders to pull your credit file. This is not necessarily the case according to the Fair Isaac Corporation, the makers of the FICO credit score which most financial institutions use to make lending decisions.

The FICO score is specially calibrated to take into account the fact that most people will shop around for the best deal when they are securing a loan for a major purchase. Here is how Fair Isaac explains the impact of “rate shopping” on your FICO score:

Looking for a mortgage or an auto loan may cause multiple lenders to request your credit report, even though youre only looking for one loan. To compensate for this, the score ignores all mortgage and auto inquiries made in the 30 days prior to scoring. So if you find a loan within 30 days, the inquiries won’t affect your score while you’re rate shopping. In addition, the score looks on your credit report for auto or mortgage inquiries older than 30 days. If it finds some, it counts all those inquiries that fall in a typical shopping period as just one inquiry when determining your score. For FICO scores calculated from older versions of the scoring formula, this shopping period is any 14 day span. For FICO scores calculated from the newest versions of the scoring formula, this shopping period is any 45 day span. Each lender chooses which version of the FICO scoring formula it wants the credit reporting agency to use to calculate your FICO score.

If you are looking for an easy way to monitor your FICO credit score we recommend Experian Credit Watch Gold with Score Power. This service monitors your credit file with all three credit bureaus, gives you access to all three credit reports and your FICO score. Equifax earned five stars on our comparison of identity theft protection services. Visit our identity theft protection service comparison to learn more.

• Reader Question: Which credit score do lenders use?
• New FICO score will help some, hurt others
• Reader Question: How do I get my FICO score for free?
• Equifax offers free 3-in-1 credit report and 3 bureau credit report monitoring
• Reader Question: Am I entitled to a free credit report each year?

Reader Question: Am I entitled to a free credit report each year?

Posted by Joe on June 16th, 2008

Q: As a consumer am I not entitled to a free credit report each year? Do have to join a club or pay for it?

A: The Fair Credit Report Act (FCRA) entitles each and every American consumer to one free credit report per year from each of the three credit reporting bureaus including Equifax, Experian and TransUnion. The three credit bureaus set up the website AnnualCreditReport.com which allows consumers to request their free credit reports.

It is important to note that the free credit reports you receive through AnnualCreditReport.com don’t include your credit score. Many of the credit report monitoring services that we have reviewed offer both a free credit report and free credit score for signing up for a free trial of their credit report monitoring service. You can keep the credit report and score even if you decide to cancel the credit report monitoring service during your free trial.

We recommend Equifax’s credit reporting monitoring service since they provide you with a free 3 bureau credit report and FICO score when you sign up for a free trial of their service. It is important to know your FICO score since it is the credit score that most lenders use to make lending decisions. gain, your free credit report and FICO score are yours to keep even if you decide to cancel your 30 day trial of Equifax credit report monitoring service.

You can learn more about Equifax and other credit report monitoring services by visiting our credit report monitoring service reviews and comparison.

• Equifax offers free 3-in-1 credit report and 3 bureau credit report monitoring
• Reader Question: How do I get my FICO score for free?
• Reader Question: How much do credit report monitoring services cost?
• Reader Question: How do I order my free credit report?
• FreeCreditReport.com offers 30 day trial of the cheapest three bureau credit monitoring service

Reader Question: How much do credit report monitoring services cost?

Posted by Joe on June 4th, 2008

Q: I see that most of the credit reporting monitoring services on your website offer a free trial. How much do they cost after the free trial is over?

A: While free trial periods are great to evaluate whether or not a particular credit report monitoring service is a fit for your life, it is important to realize that once the trial period is over you will have to live with the monthly fee.

Below is a list of the free trial periods and monthly fees of the top five credit report monitoring services we have reviewed. We have also included information on what credit report and score data you receive when you sign up. This is important because in almost all cases you get to keep the initial credit report and score information your receive during your free trial.

Equifax offers a 30 day free trial and costs $14.95 per month thereafter. Upon sign up you will receive a free FICO score and free 3-bureau credit report which are yours to keep even if you decide to cancel during the free trial period.

CreditCheck Total offers a 7 day free trial and costs $14.95 per month thereafter. Upon sign up you will receive free reports and scores from all three credit bureaus which are yours to keep even if you decide to cancel during the free trial period.

Identity Guard does not offer a free trial, but will give you your second month for free. The ongoing monthly fee is $11.99. Upon sign up you will receive free reports and scores from all three credit bureaus.

FreeCreditReport.com offers a 7 day free trial and costs $12 per month thereafter. Upon sign up you will receive a free Experian credit report and score which are yours to keep even if you decide to cancel during the free trial period.

Privacy Matters 123 offers a 7 day free trial and costs $19.95 per month thereafter. Upon sign up you will receive free reports and scores from all three credit bureaus which are yours to keep even if you decide to cancel during the free trial period.

To learn more about credit report monitoring services visit our credit report monitoring service reviews and comparison.

• Reader Question: Am I entitled to a free credit report each year?
• Equifax offers free 3-in-1 credit report and 3 bureau credit report monitoring
• FreeCreditReport.com offers 30 day trial of the cheapest three bureau credit monitoring service
• Reader Question: How do I get my FICO score for free?
• Unlimited credit reports and scores from all 3 bureaus with CreditCheck Total