As a Credit Karma user, I recently received an email announcing that they have begun offering daily free credit monitoring in addition to free credit scores!
What is Credit Monitoring?
Credit monitoring is a service that automatically updates you when a significant change has been identified in your credit report. This could include a hard or soft credit inquiry, a new credit account being started, late payment updates, or updates to your personal information.
You will automatically get an email when one of these things happens. In the long run, this can help you protect your credit and protect yourself from identity theft. If you have a big credit event such as a loan application coming up, it can also protect you from any unforeseen roadblocks.
Just like Credit Karma’s credit score service, which offers up your Transrisk (TransUnion) score and VantageScore, it is also free. You do not need to enter your credit card or any payment information like you do with other free credit score services. For more on this and a look at the security features the service provides, check out my full Credit Karma review.
How Much Does Credit Monitoring Cost?
What’s surprising about this move, is that credit monitoring is a service that is not cheap. Equifax charges $19.95 per month for the service, Experian charges $19.95 per month, and even TransUnion, who is offering the service to Credit Karma, charges $17.95 per month. Free is quite the bargain!
How do I Get Free Credit Monitoring with Credit Karma?
To get the free credit monitoring service, you can sign up for a free Credit Karma account here.
After signing up, then opt-in to the free credit monitoring. If you are already a member, go to your profile section and select “Notify me about important changes on my credit report” to sign up.
UPDATE: Credit Karma is now offering free credit report access too! It updates weekly and you can check it as often as you’d like.