Is Credit Monitoring Worth It?

Posted on 02. Mar, 2006 by in Saving & Investing

identitytheft.jpgHmmm… tough question.

In my opinion, credit monitoring services are only as valuable as the peace of mind that comes with them. Personally, I haven’t been able to justify the added expense. Quarterly reports using my allotted free credit checks has been sufficient to keep up-to-date on my credit health. However, some people are paranoid about identity theft – and they have every right to be. In that sense, credit monitoring services can be seen as a form of insurance – protecting you from that rare scenario when your credit is hijaked.

To perhaps help you answer this question I found a great article over at StopBuyingCrap.com which goes into great detail outlining the author’s experiences with four credit monitoring services – PrivacyGuard.com, MyCreditKeeper.com, CreditAlert.com, and PrivacySource.com. The article includes pros, cons, and screenshots of the available features – as well as their associated costs.
Check out the article to decide for yourself if you need a credit insurance policy.

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