Over the years, WalletHub has offered lots of very valuable resources in the sphere of personal finance to the clients in the United States. They continue to build it by providing information to many people throughout the country and have established authority that was commendable in this subject.
In this guide, we are going to review one of their most discussed services — their credit monitoring service. Lots of you have wondered if this is essential, how easy it is, etc.. This is where you will find answers to of your questions and, hopefully, be able to decide whether this is the right service for you.
What is WalletHub Credit Tracking?
WalletHub provides credit tracking for men and women that are free to all who apply for it. Therefore, you do not have to worry when this is going to cost you any money.
In addition, this credit score is updated every day, so you’ll be able to observe the minutest changes in your credit rating. Be aware that credit bureaus don’t upgrade credit scores so this should be interpreted to’the-fastest-updating credit monitoring service’.
Nonetheless, so this is a really convenient method, you will seldom need to look at your charge daily.
WalletHub will pull it for free when you want to get a credit report. Therefore, the report will be accurate.
But this report comes in the VantageScore 3.0 version. The difference between VantageScore and FICO score programs can be up to 50 points sometimes, so you ought to be prepared to do some converting if you want to know your FICO score, or get a report.
You should keep in mind that FICO is still many and the system. Most lenders use FICO score, so when you want to exhibit them with your score, this may present a small issue.
Enrolling and Privacy
The process is simple and it should not take you a lot of time.
As the first step, you’ll be asked to supply your name. After that, you will need to create a password and then enter your address and contact number.
You will be asked to enter the last four digits of your social security number. This is essential since they need to match your identity with your account in TransUnion. You there isn’t much they could do with this, and do not have to worry about your privacy, because they will have only 4 digits of your SSN.
Note: WalletHub needs your telephone number to send you alerts that are important and improve your account security. Should you prefer, you could choose out of all SMS notifications.
- 100% Free Credit Report and Identity Theft Protection.
First and foremost, this service is free of charge. Thus, there is absolutely no reason to worry about anyone trying to sell something. This is free of charge, so you can try it and decide if you like it.
- Absolutely Accurate!
Because WalletHub is a site with authority, this is natural. However, we would like to assure you that this service is not scam and it is legitimate.
- Daily Updates
Currently WalletHub is the only one company that offer updated credit monitoring.
Through credit reporting agencies, you’re entitled to three free credit reports a year as a citizen of the US. Nonetheless, if you need to look at your credit score more often, there are a lot of websites which provide quarterly, monthly or weekly reports.
WalletHub went a step further to allow you to check your score every day. This is probably the primary advantage of this credit rating support. WalletHub upgrades your credit rating every day providing you insight.
There are and a few that offer only a part of it. WalletHub pulls your credit report that is entire to give you insight in your situation.
- VantageScore Model
As we have said, WalletHub uses VantageScore 3.0 model to calculate your credit score. This is not completely compatible with FICO score model. Thus, this might present problems, but nothing too large. But this is what almost every firm do. All identity theft security businesses don’t provides FICO. Still there are.
- The ONLY Website that Offers Condensed Timeline Report
WalletHub is the only site that condenses credit report into a timeline. This way, it is more easy for you to monitor changes.
Wallet Hub vs LifeLock, Credit Karma, Credit Sesame
All of these credit monitoring companies offer great options. However, a number of them offer features that others do not.
LifeLock offers great options, such as the possibility to pull your report from all 3 bureaus. However, they charge their credit monitoring service.
Credit Karma is free and provides credit monitoring. They also offer you access to two agencies: TransUnion and Equifax.
Credit Sesame is also free, but it offers monthly credit monitoring from TransUnion. But here you have the choice to view your total debt, and this can be useful.
Finally, credit monitoring which is at no cost is provided by WalletHub. They pull your report from TransUnion.
There are possibilities for you to pick from in regards to credit tracking, as you can see. Pick and it is your choice to carefully consider each of those facets.
Since it’s legitimate free and trustworthy we suggest WalletHub credit monitoring service. It may prove to become one of the finest decisions you have made in regards to your personal finance Should you try it today.