erik
11-21-2003, 06:55 PM
"Credit monitoring isn't all it is cracked up to be.
First and most important, these services can't prevent identity theft. The best they can do is give you an early warning that someone has opened a credit account in your name.
Sometimes, you are not even guaranteed that. Some of the services wait a month before notifying you of any changes, although the best notify you (typically by e-mail) within 24 hours.
Also, most services monitor your credit report from just one of the three bureaus. That means your service won't detect problems that crop up on your reports at the two other bureaus. This is no small issue - the three bureaus don't share information, and the data they collect on you often are different.
Finally, these services are expensive, ranging from about $44 to $120 a year. To get continuous monitoring at all three bureaus, you would need to pay about $200 a year to various services."
http://www.myrtlebeachonline.com/mld/myrtlebeachonline/business/7289593.htm
First and most important, these services can't prevent identity theft. The best they can do is give you an early warning that someone has opened a credit account in your name.
Sometimes, you are not even guaranteed that. Some of the services wait a month before notifying you of any changes, although the best notify you (typically by e-mail) within 24 hours.
Also, most services monitor your credit report from just one of the three bureaus. That means your service won't detect problems that crop up on your reports at the two other bureaus. This is no small issue - the three bureaus don't share information, and the data they collect on you often are different.
Finally, these services are expensive, ranging from about $44 to $120 a year. To get continuous monitoring at all three bureaus, you would need to pay about $200 a year to various services."
http://www.myrtlebeachonline.com/mld/myrtlebeachonline/business/7289593.htm