What CAN'T Credit Monitoring Do?

Credit monitoring alerts you to new account identity theft, that is, whenever a thief attempts to open or has opened a new credit or loan account in your name.

There are some types of identity theft that credit monitoring won’t help you to detect or prevent, though. These include:

• Fraudulent use of your debit or check card. Because this type of account isn’t included on your credit report, credit monitoring won’t help you learn about unauthorized charges to your check card.
• Unauthorized use of your Social Security number. Criminals can use your credit card to do more than just open accounts in your name. They can also commit tax and employment fraud with your personal information. Credit monitoring does nothing in this area.
• Medical ID theft happens when a patient uses your name and Social Security number to check into a hospital or receive medical services. You may learn about this type of identity theft if the account ends up being sent to a debt collector.
• Credit monitoring also does not protect you from an ID thief that has gotten a hold of your credit card or credit card number. If your credit card is lost or stolen, or if you are worried that someone has obtained your credit card information (whether through card-skimming or online), then you should contact your credit card company as soon as possible. They will most likely deactivate your account and issue you a new card. 

Related Links:

Can Credit Monitoring Prevent Identity Theft?

What is Credit Monitoring?