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TransUnion's monthly subscription isn't cheap, but it could help you boost your credit score with personalized advice.
April 25, 2022 | Posted by: Marc Crossman
Your credit determines a lot in your financial life. It affects the interest rates you're offered and determines whether or not you'll get approved for a loan.
On top of that, if your personal information gets into the wrong hands, you could be dealing with identity theft or fraud, which can also impact your credit.
Costs, services, etc.
You can sign up for credit monitoring services with TransUnion for $24.95 per month. Through this service, you'll receive access to your credit report and credit score at any time.
You'll also receive email updates if there are any changes to your report and get personalized help based on your debt and credit situation to improve your score.
If someone applies for credit in your name, you'll immediately be notified with instant alerts. That way you can stop fraud before it happens.
On top of that, TransUnion subscribers get access to CreditCompass. The service provides personalized recommendations to get your credit score in shape, based on your current situation.
Should you use TransUnion?
TransUnion's free TrueIdentity offering could be a useful tool to protect your information at no cost. But should you splurge on the subscription package at $24.95 per month? Maybe not so much.
You can access all three of your credit reports from each of the bureaus once a year at AnnualCreditReport.com, so the monthly fee might not be worth it.
Additionally, TransUnion uses the VantageScore 3.0 credit score model, even though FICO is the most widely used credit score.
If you want to get your VantageScore for free and have credit monitoring, you can use Credit Karma instead.
Between AnnualCreditReport.com and a service like Credit Karma, you can get most of the perks of the TransUnion subscription service for free. But if you'd like to use the credit simulator or get personalized advice because you have a delicate credit situation, it could be worth it.
It's important to review the pros and cons before signing up and know what you're getting out of it. You can also try out TransUnion's free TrueIdentity service to start and see if you'd like to upgrade to the subscription model.
Click here for the full article: https://www.businessinsider.com/personal-finance/transunion-subscription-review-not-cheap-but-offers-some-perks
Contact us today to get started on your home buying journey! Call 780 701 3888 or email marc@albertamortgagepros.ca
