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Articles » Free Annual Credit Report | | Best Credit Protection Services |
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What to look for in a good credit protection service and where to find it
There is a significant difference between credit protection services and credit repair services . Credit protection is something that you need to preserve your good credit rating and protect yourself from identity theft . Credit repair services are all over the internet and many of them claim to be able to get you a better credit rating and higher FICO score if you pay them a fee. Be very careful of these offers. Many of these agencies use questionable and often illegal tactics that can hurt you in the long run.
The three credit bureaus, Equifax, Experian, and Trans Union, all have credit protection services available with their monthly packages. These services range from $12.95 a month to $39.95 a month, depending on which credit bureau you go through, and are probably the most reliable form of credit protection you can buy. It is, after all, the credit bureaus that report on your credit and therefore it’s a good idea to have them be the ones who monitor it.
Your bank will most likely have some type of program available to protect you from identity theft or fraud that could affect your credit rating. Ask at your local branch and enroll in one of these services, particularly if you have a credit card or mortgage loan through your bank. A financial institution is always happy to be vigilant for its paying customers, hits on your credit will cost them business in the long run. Credit Unions also offer excellent protection services and comprehensive programs to build and maintain your credit rating.
There are a number of private companies available that offer credit protection services. You can find listings for these on the Internet. Be cautious before you give out any personal information. Many of these so called “protection” services are actually fronts for marketing companies that gather and sell information. A good place to check them out for legitimacy is the United States Justice Department at http://www.usdoj.gov/ust/eo/bapcpa/ccde/cc_approved.htm . Enter the state that you live in and you’ll be provided with a list of credit counseling and credit protection services approved by the government.
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