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Posted in Credit Report
Cost of monthly monitoring
I am currently paying Equafax a total of $27.90 monthly for monitoring for all 3 major credit companies (Transunion, Equifax, and I forget the other one). I signed up for Credit Karma because I am sick of paying $27.90 monthly. I understand for free, I only have access to my information with TransUnion. Can I also have my credit file frozen with Credit Karma for free, or is there a charge. Also, if I want access to all 3 credit sites, what is the monthly charge?
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happygirl2005

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CK can't put a freeze on your credit file. For that, you need to go directly to the big three credit bureaus. CK also cannot give you access to your scores & reports from all three bureaus. $27.90 does indeed sound like a LOT to pay for a monthly monitoring service. There are companies online that do it much less expensively, but I haven't used them and would be very careful about which one to choose, since some don't have good reputations. Also keep in mind that while the reports you get from these services should be accurate, the scores you get -- even from services that charge you money -- are only "consumerized" approximations of the actual FICO scores lenders get when they pull your info. They can be wildly inaccurate, though they are at least useful in serving as a guide to help us keep our scores healthy

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Response by
Clairissa

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Thank you for your responses to my question.  I was paying Equifax the $27.90 monthly.  After submitting my question to CK, I called Equifax who agreed to decrease the monthly charge for one product /service from $14.95 to $9.95, and gave me a free month on the other product  which is usually $12.95.  ($12.95 +14.95=$27.90).  I will continue to seek a cheaper /reputable source of monitoring.

Response by
happygirl2005

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BTW, here's info on a service that charges less than you're paying http://www.nextadvisor.com/credit_report_monitoring/privacyguard_review.php. But again note that the scores it gives you aren't the real ones. And I'm not recommending this service, which I've never used and have no connection with. I'm just mentioning it as an example.

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Response by
Clairissa

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