Are credit-monitoring services effective? - WAOW - Newsline 9, Wausau News, Weather, Sports

Are credit-monitoring services effective?


By Kristen Rietz - bio | email | Twitter | Facebook

 (WAOW)-- With so much credit and debit card fraud, many people are intrigued by credit monitoring services. These services promise peace of mind for a mere $10-$15 a month. But what many people don't know is everything that they are paying for can be done on their own.

According to an official from Consumer reports, "most of these products are unnecessary, ineffective or they duplicate things that you can do yourself for free."

Security experts also point out that these credit-monitoring services won't spot most cases of identity theft because they only monitor your credit. Most types of identity fraud don't actually show up on a credit report.

So what should you do? 

Look at credit card account statements every month and check bank accounts every day.  Online banking makes this whole process much easier.

Checking your statements and accounts every day will allow you to see the flow of your money on a daily basis, and therefore keep better track of your credit.

Online Reporter: Kristen Rietz

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