If you’re rebuilding your credit or rebounding from identity theft, you know how crucial it is to keep tabs on your financial health — that’s where credit monitoring can come in.
There are tons of credit monitoring services out there, each with its own benefits, drawbacks and price tag. How do you know which one to choose? We can help. Our personal finance experts took a deep dive into credit monitoring services so you don’t have to.
From $10 to $20, depending on plan and annual discount.
Launched in 2017, Aura isn’t your standard credit monitoring service. In addition to credit monitoring, the company uses AI to monitor your identity and power robust cybersecurity tools. There are four plans to choose from: individual, couple, family or kids. You’ll need to opt for the family plan to get the most out of Aura, but at $20 a month (if you pay annually), this extensive credit monitoring could be worth the cost.
Out of all the services we analyzed, Aura provides the most unique features, including parental controls, spam blockers, internet browsing tools and email aliases. Three-bureau credit monitoring also comes standard — most other services only include this option on premium plans.
Free
As one of three credit reporting bureaus, Experian offers a suite of credit and identity theft monitoring services. With Experian’s IdentityWorks Basic plan, members get Experian credit report monitoring, Experian credit reports, FICO Scores and FICO Score tracking, as well as Experian Boost — all for free.
On-time payments for streaming services, rent and utilities usually don’t impact your credit. Experian Boost (which comes with Experian’s free credit monitoring) allows users to potentially improve credit scores by reporting rent payments. You can also link it to report other eligible bills, like those for your streaming services and cell phone.
$19.90 to $34.90 a month for individuals, $24.90 to $39.90 a month for families (discount available if you pay annually).
IdentityForce (owned by TransUnion) is an identity protection company that offers credit monitoring, provided that you sign up for its UltraSecure+Credit plan. But even if you sign up for the cheaper UltraSecure plan, you’ll get personalized advice to help you prevent future identity theft.
Credit monitoring can be handy, but it won’t stop fraudsters from accessing your account — it just sends alerts. IdentityForce can help by reviewing your history and giving you personalized advice to prevent future breaches. You’ll also get a personalized identity safety score.
Plans range from $8.99 to $29.99, plus a discount for paying annually.
Identity Guard is owned by Aura (our pick for the best credit monitoring service overall). Although the Value plan (the cheapest available) lacks credit monitoring, it may still be a great choice for those concerned with identity theft. Credit tools like three-bureau monitoring and monthly scores are included on the Total and Ultra plans.
For as little as $8.99 a month ($6.67 if you pay annually), Identity Guard will monitor the dark web for your personal information, notify you of data breaches and provide $1 million worth of identity theft coverage. If you pay annually, credit monitoring starts at only $11.99. Annual members also get a 60-day money-back guarantee.
$29.99, or $25.50 if paid annually.
IdentityIQ might be perfect for people who want a complete view of their credit health. The Secure Max plan is best for three-bureau monitoring, thanks to its monthly credit reports and scores. But if you can’t squeeze the monthly fee into your budget, the Secure Pro plan could be worth exploring — for $10 cheaper, you’ll still get three-bureau monitoring but reports and scores just twice a year.
IdentityIQ’s Secure Max plan provides monthly three-bureau credit scores, real-time fraud alerts for all three bureaus and enhanced credit monitoring (which keeps a constant eye on a range of credit-related activity). Many other services only provide semi-annual or yearly three-bureau reports.
Individual plans range from $14.95 to $19.95. Family plans are between $29.95 and $34.95.
Although IDShield primarily targets identity theft, the company includes one- and three-bureau monitoring and instant fraud alerts to round out its identity theft protection services. You’ll also find other basic credit monitoring features such as freeze assistance, credit score tracking and hard inquiry alerts on all of its plans.
IDShield could be a great option if your biggest worry is identity theft. When you file a covered identity theft claim, IDShield assigns a dedicated licensed private investigator who will help get your credit report back to its pre-theft state. IDShield also has an unlimited service guarantee, which means it will work your case until your identity is restored in full — no matter how long it takes.
Individual plans range from $14.95 to $21.95, with family plans between $23.95 and $34.95. Discounts are available if you pay annually.
ID Watchdog was founded in 2005 and purchased by Equifax in 2017. The company has two plans: ID Watchdog Select and the more expensive ID Watchdog Premium. The Premium plan includes three-bureau monitoring while the Select plan only monitors Equifax.
Not all credit monitoring services help you lock your credit, but with ID Watchdog, you can lock your Equifax and TransUnion reports (as long as you spring for the Premium plan). It also alerts you if it notices very specific activity. For instance, it will alert you if it detects a new high-interest installment loan (like a payday loan) in your name.
Free to $39.95, depending on plan.
For more than 30 years, the Fair Isaac Corporation (FICO) has helped lenders determine a potential borrower’s creditworthiness through its credit scoring model. MyFICO is FICO’s official credit monitoring service, and it provides three-bureau monitoring and updated FICO Scores every one to three months, depending on your plan.
Lenders typically use your FICO Score when evaluating your creditworthiness, but most credit monitoring services use VantageScore. Not only does MyFICO provide your FICO Score on all of its plans, but also includes separate FICO Scores for mortgages and auto loans.
To find the best credit monitoring service, you’ll need to understand which credit bureaus the service keeps track of — and that can be tricky. This is because some credit information may make it to only one bureau. For the most comprehensive view, you should look for credit monitoring that offers three-bureau reporting (Equifax, Experian and TransUnion). Three-bureau monitoring tends to be the most expensive.
On the flip side, although most free credit monitoring services only offer one-bureau monitoring, they can still be a budget-friendly way to keep your finger on the pulse of your overall credit health and any suspicious activity.
FICO Score vs. VantageScoreThere are also two different types of credit scores your monitoring service can show you: your FICO Score or your VantageScore.
Most financial institutions use the FICO model when underwriting loan applications, but generally speaking, most credit monitoring services use VantageScore. When you check your credit score using a credit monitoring service, there’s no guarantee that it’s the one your lender uses. Still, your FICO Score and VantageScore tend to be fairly similar, so knowing either one can give you a good idea of your creditworthiness.
The general idea behind credit monitoring is the same, but specific offerings vary from company to company. While you’re shopping, ask yourself what you hope to achieve with credit monitoring. Are you more concerned with your credit score or identity theft — or both? Once you know what you want your credit monitoring service to do for you, you’ll have an easier time choosing a company best suited for your needs.
