4 Tips on Choosing a Credit Monitoring Company

Although US citizens are entitled to receive free credit reports every year from the three major credit bureaus, many people don’t even know they have the option, until something goes drastically wrong. That is the reason why every credit repair company advises clients to check their credit report at least once a year, so that any and all inaccuracies, such as bankruptcies, tax liens, slow payments, charge-offs, foreclosures, and others, can be rectified as soon as they manifest. You may do it on your own by requesting a free credit report from the credit bureaus, but taking the DIY way is advisable only if you have the expertise required to screen the entries. If not, always procure the credit monitoring services of a reputable credit repair company, and to help, in this blog post, we discuss the factors to consider when it comes to selecting a competent contender.

1. Years in Business

When evaluating a credit repair company, first of all, check for how long it has been in the industry. Choose a firm that has a proven track record of providing credit repair or credit monitoring services for at least 2-3 years.

2. Proven Competence

Another key factor is a company’s competency in the domain. Get to know in details about the approach your chosen credit monitoring company takes to resolve various credit-related issues. Prefer a company that follows a strategic approach to remove all inaccurate items from consumers’ credit report, while complying with all the relevant Federal and State laws.

3. Monitoring Frequency

One of the major reasons for hiring credit report monitoring service is to ensure that there are no errors that may affect your creditworthiness. Therefore, checking the credit report periodically ensures efficient credit risk management. The frequency of credit monitoring varies from daily, weekly, and monthly. If there is any discrepancy in the credit report, you will receive an alert from the credit monitoring services company that will help you take quick action on the matter.

4. Service Fee

Credit repair or monitoring services companies usually charge a monthly fee that varies depending on a number of factors. In addition to the “frequency” factor already discussed in the last pointer, the cost of services typically depends on the following two factors:

a) Number of Credit Agencies Monitored

There are three major credit bureaus – Experian, TansUnion, and Equifax. Check with the company, which credit bureaus they monitor. The number of the credit agencies monitored (one to three) is the key factor deciding the cost. Credit monitoring services companies that monitor only one credit bureau are the least expensive. The cost increases when the number of monitored agencies go up.

b) Number of Credit Reports You Can Access

Depending on the number of credit reports consumers want to review or have access on a monthly or yearly basis, they can opt for a suitable plan. While plans that allow access to a lesser number of reports cost lesser compared to those with an unlimited number of reviews.

Last Few Words

All the factors discussed in this post can help you choose the most suitable credit repair company in Texas or any other state. Credit repair is an intricate process, and not everyone has the required knowledge and expertise to handle credit issues, and therefore, letting experts manage them is always advisable over the DIY way. Should you have any question or confusion, our team of representatives is just a call away. You can reach us at  (888) 469-7372, or fill out our contact and we will take it from there.

About the author