Experian has recently introduced a credit monitoring service called Triple Alert which features automatic, daily monitoring of one's Experian®, TransUnion, and Equifax credit reports that costs only $4.95 per month. Similar services typically cost anywhere from $9.95 to $19.95 per month and some only offer weekly credit monitoring. Apparently keen competition in the credit monitoring business is driving prices down, which is good news for consumers. Let's hope that the other two major credit bureaus, Equifax and Trans Union, will soon follow suit.

Features of the new Triple Alert service include:

  • Email alerts of key changes to any of your 3 national credit reports
  • 10,000 identity theft insurance provided by Virginia Surety Company, Inc.
  • Dedicated fraud resolution representatives available for victims of identity theft

Although the marketing of credit monitoring services has exploded within the last few years, many consumer advocates have maintained that the benefits of credit monitoring services do not justify the costs. Despite such misgivings, most consumer advocates agree that credit monitoring is a great way for consumers to proactively manage their credit and is also a proven method to minimize the damages caused by identity theft. Furthermore, the pricing of the new Triple Alert service may result in renewed interest in credit monitoring services among consumer advocates.

More information about Triple Alert, including registration details, can be found by visiting TripleAlert.com.

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