Credit Monitoring Services Are a Waste of Money — Free Alternatives Are Available

Writing in the San Francisco Chronicle, Kathleen Pender demonstrates that the credit monitoring services offered by the credit bureaus and other companies at a cost of $60 to $200 a year are a waste of your money. The services won’t detect many types of identity theft and it is pretty easy to check your credit reports for identity theft for free. Credit monitoring services promise to notify you of “key” changes in your credit reports by email or cell phone text message. How soon you are notified varies; Equifax offers daily notification, but the notification could be 30 days after...

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