Question
Is it a good idea to have Credit Monitoring along with Credit Locking and/or other services?
Answer
Credit Locking does not provide you with alerts to activity in your Credit Report, while Credit Monitoring does. Meanwhile, Credit Monitoring does not block access to your Credit Report, while Credit Locking does. It is true that once a Credit Lock is in place, there should be no new loan activity in your Credit Report. However, there could still be activity surrounding performance of existing loans, as well as new activity caused by any Lock removals (temporary or permanent). A good analogy is a home security system. It is important to have a door at your house to prevent thieves from entering freely. It is important to have a lock on such door (and sometimes multiple locks), to make it hard for thieves to force their way into your house. It is important to also have motion detection sensors, in case a thief managed somehow to enter despite locked doors and windows. You can think of Credit Lock as the lock on the door and windows. You can think of Credit Monitoring as the motion sensors, and hidden surveillance cameras. For more information on Credit Monitoring, Click HereFor more information on Credit Locking, Click Here |
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