What is credit monitoring and what can it do for you?

Quick answer: Credit monitoring is a way of tracking changes to your credit report and score, helping you spot possible fraud and work toward better credit health. Credit monitoring services can include things like credit score tracking, alerts, updates and identity protection.

Credit monitoring means keeping an eye on your credit information, including your score and report, to see what’s changing over time. This can help you spot signs of fraud, understand how certain actions affect your credit health, and stay motivated while working toward financial goals.

Experian offers credit monitoring services to help you look after your credit score and report. Experian’s IdentityPlus includes credit protection features like alerts, web monitoring and CreditLock to help protect you from fraud. CreditExpert offers the same, plus extra features to help you understand and improve your score.

Read on to learn how to monitor your credit report and score and find out whether a credit monitoring service is right for you.

What is credit monitoring?

Credit monitoring means keeping track of changes to your credit score and credit report. Doing this can be easier when you use a credit monitoring service, which often includes alerts and insights.

Monitoring your credit can help you spot issues early, like a missed payment that’s lowered your score or signs your identity’s been stolen. It can also help you understand your progress if you’re working to improve your score.

What are credit monitoring alerts?

Credit monitoring alerts tell you about important changes to your credit information. They can help you understand how certain actions impact your score, like applying for credit or paying down a loan.

They can also make it easier to spot if someone’s trying to use your identity for fraud. For example, an alert could tell you there’s a new application on your report that you don’t recognise.

What is Experian credit monitoring?

Depending on which product you choose, Experian credit monitoring can include credit score tracking, credit monitoring alerts, and protection features like CreditLock.

A free Experian account lets you check your monthly credit score and see its history, helping you track progress over time. You can also see your free monthly credit report with the Experian app.

With a CreditExpert subscription your credit score updates daily, and you’ll be alerted to any changes to your score and report. You’ll also get a 2-year forecast of how your score could improve if you follow certain steps.

An IdentityPlus or CreditExpert account also includes credit monitoring alerts such as:

• Web monitoring alerts — We check your personal and financial details aren’t exposed online and notify you of any suspicious activity.
• CreditLock alerts — You can use CreditLock to block applications in your name. We’ll remind you it’s on, and you can turn it off if you want to apply for credit.
• Fraud alerts — We alert you about certain changes on your report that could be signs of identity theft, and help you recover if you become a victim of fraud.

Compare Experian products to see which is right for you.

What are the benefits of credit monitoring?

Here are some ways credit monitoring may benefit you, from easing worries about fraud to helping you plan your financial future:

• Peace of mind — Credit monitoring can help you feel certain about your credit situation, so you don’t have to guess or learn about issues later.
• Fraud protection — You can spot possible signs of identity theft sooner, like searches you don’t recognise, helping you act quickly if you’re a victim of fraud.
• Knowing what to do next — Some credit monitoring services suggest personalised ways to improve your credit score, helping increase your chances of being approved by lenders.
• Motivation — Tracking your credit score and seeing improvements in your credit report can help you stay motivated if you’re working towards a goal. For example, if you’re paying off debt, building a credit history or getting ready to apply for a mortgage.

What are the benefits of Experian’s CreditExpert?

Here are a few ways that credit monitoring with CreditExpert can help you:

• Daily credit score tracking — Your Experian Credit Score and Credit Report are updated every day, so you always know where you stand.
• Extra support from experts — Get help from a dedicated UK-based support team if you have questions about your credit or possible fraud.
• Tailored action plan — Personalised insights and tips help you understand what’s affecting your score and how to improve it.
• CreditLock — Lock your report when you’re not making applications to lower the risk of fraudsters taking out credit in your name.
• ID and credit protection — Everything you’d get from Experian’s IdentityPlus, including alerts if we find your details on the dark web and enhanced support if you’ve been targeted by fraudsters.

Frequently asked questions

Should I get credit monitoring after a data breach?

It can be a good idea to get credit monitoring after a data breach, as there’s usually a higher risk of fraud if your information’s been leaked. If you have been affected by a data breach, credit monitoring services like IdentityPlus alert you about possible signs of fraud so you can take steps to protect yourself.

If you’re concerned you’re at a higher risk of identity theft, you could also consider ‘freezing’ your credit or getting Protective Registration from Cifas to help stop fraudsters from taking out credit in your name.

What are the alternatives to credit monitoring services?

If a paid credit monitoring service isn’t right for you, you can still check your free credit report and score on the Experian app. They update every 30 days if you log in.

If you’re mainly concerned about fraud, consider Cifas Protective Registration. This adds a note to your report warning lenders you’re at higher risk of fraud, helping them do extra checks before approving applications in your name.

Another option is to add a password Notice of Correction to your credit report. With a password Notice of Correction, you can choose a password and, if anyone applies for credit in your name, the lender should ask for the password before opening a credit account.

Can I get credit monitoring services for free?

You can check your free monthly credit score and report on the Experian app, as well as your credit score history to help you track progress. Paid services offer more ways to monitor credit and avoid fraud, like alerts, CreditLock, and daily updates.

What doesn’t credit monitoring include?

Credit monitoring can help you understand changes to your credit data and spot signs of fraud, but fraud can still happen. Credit monitoring doesn’t look at your bank transactions, cash withdrawals or purchases on your cards.

It also can’t detect malware on your device or stop scams like phishing. It’s important to know that Experian credit monitoring services are based on the information we gather, and other companies could hold different information about you.

When is credit monitoring most useful?

Credit monitoring could be more useful if:

• You’re at higher risk of fraud — For example, if your information was exposed in a data breach or you’ve been targeted by a scam.
• You’re working to improve your score — Services like Experian’s CreditExpert can help you track progress and understand what’s affecting your score.
• You’re preparing for an important application — Mortgage lenders carry out detailed checks, so it can help to monitor your credit in the months before applying.
• You’re unsure about your credit situation — Monitoring over time can help you understand how your actions affect your score, and if you’re on the right track.

For CreditExpert a monthly fee of £14.99 applies after your free trial. You may cancel during your 30-day free trial without charge. New customers only. Free trial period starts on registration. Further ID verification may be required to access full service which can take up to 5 days.