Question
Is it a good idea to have Credit Locking along with Credit Monitoring and/or other services?
Credit Lock Down / Credit Freeze or Credit Monitoring?
Answer
Credit Monitoring does not block access to your Credit Report, while Credit Locking /Credit Freezing does. Meanwhile, Credit Locking / Credit Freezing does not provide you with alerts to activity in your Credit Report, while Credit Surveillance / Credit Monitoring does. It is true that once a Credit Lock / Credit Freeze 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 / Freeze 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 / Credit Freeze as the lock on the door and windows. You can think of Credit Surveillance / Credit Monitoring as the motion sensors, and hidden surveillance cameras.
For more information on Credit Locking / Credit Freezing Click Here
For more information on Credit Surveillance / Credit Monitoring Click Here
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