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TransUnion Credit Monitoring Review: Credit Report Monitoring |
| Sign up for TransUnion Credit Monitoring | |
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| 3-bureau monitoring, unlimited TransUnion scores; free 7-day trial | |
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TransUnion Credit Monitoring subscribers have access to unlimited TransUnion credit scores and also 3-bureau credit report monitoring. They will also receive their free TransUnion credit score when they sign up. However, this service is very TransUnion-focused and won't provide you with additional information about your Experian and Equifax credit reports and scores outside of any credit monitoring updates you may receive.
The TransUnion credit scores are based on the VantageScore system, which was developed by the three credit bureaus as an alternative to FICO scores. While no company reveals their "secret formula" for calculating credit score, based on our testing we've found that VantageScores can be more different than FICO scores compared to other branded credit scores. There seems to be certain information that can negatively affect your FICO score but does not seem to impact your VantageScore. This doesn't mean one methodology is better than the other, but since more lenders use FICO scores, your VantageScore may not be as close an approximation to what a lender is taking into account as you might like so it's not a credit score we can recommend. VantageScores can also be a bit confusing because they range from 501 to 990, while FICO scores and many other types of credit scores range from 301 to 850, making comparisons a bit difficult. All that being said, TransUnion does do a nice job of helping you understand your VantageScore. It gives you a letter grade (A,B,C,D or F) and a percentile (0-99%) associated with your score so you can get a clear idea of how your score compares to the average credit score. It also gives you an explanation of the factors that are negatively affecting your score. TransUnion Credit Monitoring also includes the ability to lock and unlock your TransUnion credit file as part of your service. Locking your credit means that no one has access to it for any reason, whether it be checking your credit or opening a new account. It is great protection against identity theft. For those that want to do this, it could be a valuable benefit as depending on the state in which you reside, you would normally have to pay $10 to lock your credit and another $10 to unlock it each time you do it. However, in this case it's only of limited effectiveness because you're only locking your TransUnion credit file, not your Experian or Equifax file. While credit inquiries or new accounts often hit all three credit bureaus, they do not always do it. Thus new accounts could still be opened in your Experian or Equifax file while your TransUnion file is locked. TransUnion Credit Monitoring also includes $25,000 of identity theft insurance in the service. Overall, we feel TransUnion Credit Monitoring is a limited service as it only gives you a score based on TransUnion data, and uses a score formula that can vary widely from a FICO score. Although it features 3-bureau credit monitoring, your Equifax and Experian report won't be monitored until the 7-day free trial is over, so you won't enjoy 3-bureau monitoring during your trial period. For those only concerned with TransUnion information, this service may be useful, but most people would benefit from another option. Sign up for TransUnion Credit Monitoring | Compare to Other Credit Report Monitoring |
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| Credit Scores: | Free TransUnion score |
| Credit Reports: | TransUnion report |
| Trial Period & Price: | Free 7-day trial; $16.95/mo |
| Credit Monitoring: | All 3 bureaus |
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TransUnion Credit Monitoring Forum Posts
- Where do I call to cancel TranUnion?
You can contact their customer resource center to cancel at 888-567-8688. - Where do I call to cancel TranUnion?
I can't find the telephone # to cancel after the trial period. this seems to me to be a scam am i right? - What are the addresses for credit reporting companies?
TransUnion's headquarters are located at 555 W Adams St Chicago, IL 60661.... - What are the addresses for credit reporting companies?
What are the addresses for credit reporting companies? - TransUnion Review
Here is NextAdvisor's review of TransUnion: http://www.nextadvisor.com/credit_repor ... review.php
