When Think Credit Reports entered the credit monitoring service field more than five years ago, its leaders knew they had to offer services that allowed their members to manage their credit proactively, as well as an instantaneous way of responding to potentially fraudulent new information the minute it was added to their credit profiles. Thus, the firm offers its members full reports and credit scores from each of the three major credit reporting bureaus, not just one. In addition, Think Credit Reports monitors each member’s credit profile in each of the three credit bureaus, and immediately alerts them by email or text message when any new information is added.
There are several reasons consumers should monitor their credit reports. Banks and credit card companies rely on credit reports as their prime source of information when determining whether to extend credit, and by how much. More and more employers also review their employees’ and applicants’ credit reports, even when the jobs involved have nothing to do with money. Likewise, insurance companies are increasingly reviewing their clients’ credit and cancelling or denying insurance if the credit score is too low. Finally, identity theft, which remains a growing problem, can ruin a person’s credit and make it impossible to qualify for credit or even a job.
Consumers who are planning a major purchase, such as a car or a house, should obtain all three of their credit reports and review them thoroughly. Federal law requires the credit bureaus as well as the companies that report credit information to them to correct any inaccurate information. The credit reports themselves will include instructions on how to request that inaccurate information be corrected.
With the busy schedules and many distractions faced by today’s consumers, it’s easy to let credit report monitoring fall between the cracks, only to find out too late that inaccurate adverse information on a credit report is standing in the way of buying a new house or car. Information on engaging the services of Think Credit Reports is available at the firm’s website, http://www.thinkcreditreports.com.