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True Credit 3-Bureau Review: Credit Report Monitoring |
| Sign up for True Credit 3-Bureau | |
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| Only monitors TransUnion credit report; unlimited TransUnion scores; free 7-day trial | |
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TransUnion Credit Monitoring is a limited service that gives subscribers access to unlimited TransUnion credit scores and monitors just their TransUnion credit report. We recommend consumers monitor their credit reports at all three credit bureaus since information is often only reported to one bureau. Thus, we don't highly recommend this service.
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, TrueCredit 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. TrueCredit also includes $25,000 of identity theft insurance in the service. Overall, we feel TransUnion Credit Monitoring is a limited service as it only monitors your TransUnion credit report, gives you a score based on only TransUnion data, and uses a score formula that can vary widely from a FICO score. For those only concerned with TransUnion information, this service may be useful, but most people would benefit from another option. Sign up for True Credit 3-Bureau | Compare to Other Credit Report Monitoring |
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| Free Credit Scores: | Free TransUnion score |
| Trial Period & Price: | Free 7-day trial; $11.95/mo |
| Credit Reports Monitored: | TransUnion credit report |
| ID Theft Insurance/ Guarantee: | $25,000 |
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