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TransUnion is one of the three largest US credit reporting agencies. It also offers a paid credit monitoring service.
A good creditworthiness is essential for building a solid financial foundation. Therefore It is important that you know your credit score well and monitor it for changes.
Keeping an eye on your score will help you identify problem areas and make the necessary adjustments. TransUnion helps you keep an eye on your credit score. Learn more about this tool in our review.
- TransUnion offers a paid credit monitoring service.
- The cost is $29.95 per month.
- Access personalized debt analysis, credit score trends, and a credit score simulator.
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What is TransUnion?
TransUnion entered the credit business in 1969 with the purchase of the Credit Bureau of Cook County. Since then, it has grown to become one of the three largest credit bureaus in the United States.
On the one hand, the company helps lenders and financial institutions make decisions based on the credit information it collects about consumers. On the other hand, it also provides consumers with detailed information about their personal creditworthiness.
What does it offer?
TransUnion offers a monthly subscription that includes credit monitoring, identity theft assistance, and more. Below, we'll take a closer look at the plan's features.
Access to credit information and score
A low credit score can result in you paying higher interest rates on your loans or being denied financing for major purchases like a home or car.
As part of TransUnion's monthly plan, you get unlimited access to updates to your TransUnion credit report and credit score. If you closely monitor your credit score before a large financing purchase, these details can be helpful.
When something is added to your credit report, you will receive an update via email.
Credit monitoring
TransUnion notifies you when someone applies for a credit account in your name. Since a quick response can help you nip a problem in the bud, this is a helpful feature.
You also have the option to lock and unlock your credit reports from TransUnion and Equifax. However, you also have the option to freeze and unfreeze your credit report with both credit bureaus for free and with no monthly subscription fee.
Credit Score Simulator
TransUnion offers a credit score simulator that can help you determine exactly how a particular lending decision might affect your credit score. For example, if you're planning to apply for a credit card, the score simulator can help you estimate how it might affect your credit score.
This is a particularly useful tool if you are working on building your credit score. You can run some simulations to see what might happen before you take any action. Any action that could hurt your credit score should make you think twice.
Personalized information about your debts and loans
TransUnion offers a personalized debt analysis to help you create a debt repayment plan that optimizes your credit score.
You can also use it to monitor trends in your credit score. Hopefully, you'll watch your credit score go up, but if you notice a downward trend, you can figure out why your credit score might be going down.
Support for identity theft
If you suspect your identity has been stolen, you can contact TransUnion's identity theft specialists, who can guide you through the process of getting your financial life back in order.
Additionally, you can purchase identity theft insurance up to $1,000,000 through your TransUnion membership. The policy does not cover money stolen from a bank, but it does cover lost wages, travel expenses, legal services and dependent care.
Are there any fees?
TransUnion offers straightforward pricing: a monthly subscription costs $29.95 plus taxes.
How does TransUnion compare?
TransUnion isn't the only service you can use to check your credit score. Here's how it stacks up.
If you are looking for a free option, Credit Sesame offers credit monitoring and identity theft insurance. You can use the company to monitor your Vantage 3.0 credit score. And Credit Sesame uses data from TransUnion to replicate your credit report. The catch is that Credit Sesame will show you ads for other credit-related products like credit cards and personal loans.
If you don’t mind the monthly fee and want to monitor your credit score with all three credit bureaus, myFICOs Paid plans might be a better fit. Detailed credit monitoring gives you more information, but you'll pay $29.95 to $39.95 per month. There's a limited free plan.
How do I open an account?
If you want to work with TransUnion, you'll need to provide some basic information, like your name, date of birth, the last four digits of your social security number, email address, address, and phone number. You'll also need to provide a payment method.
Is it safe and secure?
Using TransUnion to monitor your credit score will not affect your credit report. Additionally, the company has a wide range of security measures in place, including encryption, to protect your information.
How do I contact TransUnion?
If you need to contact TransUnion, you can call 1(855) 681-3196. The support team is available from 8 a.m. to 9 p.m. on weekdays and 8 a.m. to 5 p.m. on weekends (Eastern Standard Time).
Is it worth it?
For an in-depth look at your credit data from TransUnion, the monthly subscription fee might be worth it, but if you can't afford $29.95 per month, you may want to check your credit report for free and take advantage of free credit monitoring services instead.
Check out TransUnion here >>
Create your very own Auto Publish News/Blog Site and Earn Passive Income in Just 4 Easy Steps
