What is a 'Credit Monitoring Service'?

A credit monitoring service is a system that monitors a consumer's credit reports for signs of possible fraud. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Term of the Day | Words to Know Credit Monitoring Service A credit monitoring service tracks changes in borrower behavior to notify consumers of potential fraud as well as changes to their creditworthiness. For example, credit monitoring services can guard against identity theft, when an individual's personal information is stolen and used without the person's permission for nefarious purposes. If a credit card is stolen and used, a credit monitoring service should detect the different buying pattern and alert the credit card account holder. Read More » Related to "Credit Monitoring Service" Pros And Cons Of Credit Monitoring Services Identity theft is a complex problem. Learn if credit monitoring services are the solution. Read More » The Most Common Types of Consumer Fraud Find out how to avoid becoming a victim of consumer fraud by knowing about these common scams. Read More » PRESENTED BY MORNING BREW Become Smarter In Just 5 Minutes Get the daily email from Morning Brew that delivers the latest news from Wall Street to Silicon Valley. Make your mornings more enjoyable, for free. Check it Out » Top Sources for Free Credit Scores These credit monitoring services and credit card companies will let you see your credit scores for free. Read More » Related Definitions Identity Theft Identity theft is the crime of obtaining the personal or financial information of another person for the sole purpose of assuming that person's name or identity in order to make transactions or purchases. Read More » Social Engineering Social engineering is the act of exploiting human weaknesses to gain access to information and protected systems. Read More » Credit Report A credit report is a detailed breakdown of an individual's credit history, provided by one of the three major credit bureaus. Read More » Credit Score A credit score is a number ranging from 300-850 that depicts a consumer's creditworthiness. The higher the credit score, the more attractive the borrower. Read More » CONNECT WITH INVESTOPEDIA Email sent to: mondemand.forex@blogger.com To update your newsletter preferences or unsubscribe, click here. 114 West 41st St, floor 8 New York NY 10036 © 2020, Investopedia, LLC, All Rights Reserved | Privacy Policy