5LINX SafeScore – Protecting Your Finances With Credit Score Monitoring

November 19, 2013 | Author: | Posted in Security

Personal finances are very essential. They determine a lot of things in life. If you needed to get a loan, your personal finance would count greatly. This is why it is advisable to keep a good eye on them. Monitoring your credit core is especially very important. Bad credit can stop you from achieving a lot of things. Before you get a loan, you must know about your credit score. That would save you the disappointment of getting turned away at the manager’s door at your bank.

When you monitor your credit score, you will know when to get a loan or if to wait. If you have bad credit, then you can find ways to improve it. It helps to know your credit score.  A credit report is basically an account of all your history when it comes to borrowing and paying loans.  It also includes a history of all your accounts, the old and the new. This is the report that is used when you are looking to get a new loan or other financial services. It is what is used to gauge your credit score.

There are specific bureaus that are used to calculate your credit scores. Credit scores are also known as Fair Isaac Corp (FICO) scores. There is a formula that is used to calculate the credit score. Credit scores from different bureaus may vary slightly. The point is that keeping these credit scores safe is something that should be given a lot of consideration. There are so many cases of all kinds of financial fraud nowadays. People are always worrying how safe their financial information is. A security assurance on your credit score is something that would give you peace of mind.

A credit score monitoring service is something that one would definitely need. It is not uncommon for data breaches to occur at any time. This service would provide protection against that. A credit monitoring service also gives alerts when there is activity on an individual’s credit report. If there is a new account that has been opened or certain financial requests have been made, alerts are sent to the owner of the credit score.

This service helps you keep an eye on you credit score without too much trouble. There are also simulators that help look at what future credit scores would look like. This help when looking to use your credit scores. The safety on one’s credit scores is one thing that should never be taken lightly. Having someone who can help guard that information the way it should be is definitely worth the time and resources.

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