Credit Report Monitoring FAQ

Frequently Asked Questions about Credit Report Monitoring

Do I need to monitor both my credit report and my credit score?

We highly recommend it for most people but it depends on your situation. If you are only concerned about identity theft, then there is no real reason to monitor your credit score. However, if you have any interest in being granted credit (such as getting a mortgage, car loan or new credit card), we think it is very important to monitor your credit score, since it affects what type of credit you can get and how much interest you will have to pay. Needless to say, if you are considering getting a mortgage or refinancing a mortgage any time in the next year, we believe it is absolutely essential to monitor your credit score. Your credit report gives you the raw information that you can and should verify, but your credit score translates that information into a rating that potential lenders will use to evaluate you. Monitoring your credit score lets you see whether actions you are taking to improve your credit are actually working. If your credit score is too low and you want to get a mortgage or apply for any other type of loan, you may want to take action to improve your credit, then wait until your score rises before applying for credit.

Return to Credit Report Monitoring FAQs