divadend Posted January 1, 2008 Report Share Posted January 1, 2008 Here's the deal:Credit in mid 500s, but previously in mid to high 600s. Damaged from high debt to income ratios and late payments during marital problems. Have since sold old house, paid off car, settled w/ Capital One.Trying to clean up credit and raise score in the next 6 mos. or so. Reconciling w/ hubby (thankfully) and want to get another house. Ran reports, sent registered letters to dispute items on report, and a couple of DVs.The question at hand: Should I invest in credit monitoring? What is the benefit or should I just check scores again in a couple of month?I'd appreciate any advice, but please try to keep it simple. Some of the conversations on this site seem like they are in a different language (although I am learning the language )Thanks for all the great help.L Link to comment Share on other sites More sharing options...
Amerikaner83 Posted January 1, 2008 Report Share Posted January 1, 2008 Basically - to answer your question, I"ll ask you a few.Do you need to (or want to) see a new report every day? Is your situation one of Identiy theft? If your answers are no, then you may not really need credit monitoring.Many people have a credit monitoring service so they can pull a new report every day in an effort to remove inquiries form their report. Also, it can help to show new activity on your credit reports, especially if you're ramping up to buy ahouse again. You don't have to pull a new report every day...as most monitoring services give you e-mail alerst whenever something changes. You can get them for like 10 bucks a month or so...It's really up to you. Link to comment Share on other sites More sharing options...
divadend Posted January 1, 2008 Author Report Share Posted January 1, 2008 Re: <Many people have a credit monitoring service so they can pull a new report every day in an effort to remove inquiries form their report. >Are you saying that credit monitoring keeps other people from inquiring on your report?Thanks for the quick response...you guys are unbelievable. I am telling everyone I know about this site! Link to comment Share on other sites More sharing options...
Amerikaner83 Posted January 1, 2008 Report Share Posted January 1, 2008 no it does not.Here's the *extremely* short version:Pulling a new copy of your report does NOT keep anyone fom looking at it. Not at all. What it DOES do, however, is lets you know if there are changes in your credit files (new accounts, collections, address changes, or inquiries). They can still do an inquiry on your report...and they will see everything on your report (except "soft pulls", I'll get to that next), just like you do.When you pull your own report, it's called a "soft" pull, or soft inquiry. They do not count against your score either way. You'll find that promotional "pre approved" offers of credit are soft pulls. YOU are the only one who sees those type of inquiries. Link to comment Share on other sites More sharing options...
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