Credit monitoring services allow you to track the activity on your credit report. You can receive alerts for changes in the information on your credit report so that you can address things that are suspicious or incorrect.
Credit monitoring will give you insights into changes on your credit report including any hard inquiries that are made, newly created accounts, high credit card balances, missed payments and many more. By monitoring your credit, you can see which areas of your credit profile can be improved upon. You’ll also be able to spot identity theft early on and identify inaccuracies in your credit reports, so you can dispute these errors.
Credit monitoring does a lot, but it can’t fully protect you from fraud. A credit monitoring service will not be able to: stop phishing emails, keep your information safe from data breaches, prevent someone from applying for credit in your name or fix errors on your report for you.