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Many individuals who perform credit monitor reviews, report that they are not worth the monthly fee and are a rip-off. However, we say they can be beneficial to a consumer
(especially for people with bad credit) seeking to obtain low interest rates on credit cards and loans.
Credit monitoring is the act of surveillance of your credit report for key changes like inquiries or the opening of new accounts. The main purpose of credit monitoring services is to help prevent
identity theft and fraud, but we believe it is more beneficial to use the service to monitor information that may negatively effect your credit score. Your credit report can change daily as creditors
and lenders report new information about you to the credit bureaus, thus changing your credit score. If your in the market for a new loan, it can provide you with your most recent credit score (on a
monthly basis) and this key factor can help you determine the right time to apply for new credit.
Most credit monitoring services have a free 30 day trial and include a free copy of your credit report. After the trial, they will charge a monthly fee of around $15 dollars a month and be canceled
anytime. In our credit monitor review, we believe this is a small fee to pay considering it can help you potentially save much more on annual interest rate charges if you know the right time to apply
for new lines of credit.