I am trying to improve my credit score, so I am wondering is paying 12.95 a mo. to a credit bureau on my credit card worth it. Or is it more of an unnecessary expense? Any thoughts and comments…
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Is a monthly subscription to a credit bureau for credit monitoring worthwhile or a waste of time and money?
September 4th, 2008 · 8 Comments
Tags: Monitoring Software
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8 responses so far ↓
1 educated guess // Sep 4, 2008
Total waste of money. Every 90 days “lock-out” any activity and release it as needed…which hopefully is not often
2 petey00petey // Sep 4, 2008
ITS WASTED MONEY…IF YOU ARE CONCERNED YOU CAN PUT A CREDIT FREEZE ON YOUR CREDIT REPORTS WHICH WILL PREVENT SOMEONE FROM OPENING NEW ACCOUNTS IN YOUR NAME…
3 bdancer222 // Sep 4, 2008
Complete waste of money. Credit scores typically don’t have big changes from one month to the next. A lot of the ‘tips’ provided are not really very helpful either.
Pay all your bills on time. Don’t carry any balances on your credit cards. Use them and pay them in full every month. In a year, your score will improve.
If you want to check progress on your score, it would still be cheaper to buy your score every 3 months, than pay $13 per month.
4 Kiplinger Answers // Sep 4, 2008
The best way to improve your credit score is to pay your bills on time, pay down your balances and don’t open any new accounts (but don’t close any, either). See Boost Your Credit Score for more: http://www.kiplinger.com/magazine/archives/2006/03/credit.html
5 maxmom56 // Sep 4, 2008
Unless you think your identity has been stolen and you don’t want to lock your report, it’s a waste of money.
6 stan c // Sep 4, 2008
You got the answers. If you want to increase your credit score, just get a small loan for 24 months and pay it back in 12. If you want to be notified of any new inquires, just put the account on fraud alert through Trans Union Fraud Dept. Their toll free # 1-800-680-7289. They will notify the other 2 bureaus. It has to be renewed every 90 days to keep it active. There is no charge for this service.
7 Maritza B // Sep 4, 2008
Waste of Time and Money. If you want to improve your credit score,first get a copy of your credit report. You can get a free copy every year at http://www.annualcreditreport.com (it will link you to each one of the credit bureaus:experian,transunion and equifax).
If you have current debt, use the $12.95 towards paying that debt off.The more debt you pay, the better your credit score.
If you have credit accounts in good standing,keep them that way.Pay more than the minimum always and don’t go anywhere near your credit limit.
Once you start taking control of your finances,get your credit score (it is about $7 at each credit bureau ) and see the improvement. You don’t need to get your credit score every month.
8 Cordie Z // Sep 4, 2008
I suggest you visit a local credit restoration service. http://www.tipstoimprovecredit.com They should offer you advice to help improve your credit.
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