Credit Monitoring
The term credit monitoring refers to the consumer making an active effort to be familiar with the contents of his or her credit report, thus protecting the consumer from errors and credit fraud. Credit card monitoring can be done by the individual or through relatively low cost services provided and easily accessed via the Internet by all of the major credit reporting agencies.
Many of these services e-mail the consumer when significant credit changes appear on the report, allowing the consumer to almost immediately begin the process of correction in the event of a legitimate credit dispute.
Credit reports are the foundation of every aspect of credit, from the most basic credit cards to car loans, mortgages, and student loans. Insurance providers often determine rates according to credit reports. Employment and rental housing can be affected by the information found on a credit report. Therefore, credit monitoring is an important part of protecting the quality of life of the consumer.