Understanding Credit Report
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How Credit Monitoring Can Help You

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What is Credit Monitoring?

Credit Monitoring is an alarm clock when it comes to your credit.

Credit Monitoring is the act of monitoring your credit history in other to detect changes to your credit history.

CreditRegistry’s Credit Monitoring Service, provided through the CreditConnection service, can alert you when changes occur on any of your loan accounts; changes like late payment reported by one of your creditors.

The service also lets you monitor your credit score and you can use it to detect inaccuracies in your personal information like your address and phone number. With credit monitoring, you can stay on track and maintain your credit health.

The CreditConnection Gold and Platinum subscriptions offer you the ability to access your most recent credit report every time. The Platinum service includes alerts to notify you of changes to your credit report.

Individuals and businesses use the CreditConnection for many different reasons, but these are the most common:

1: To Share a Credit Report

CreditConnection’s Gold and Platinum subscriptions come with the ability to let you securely share your credit report with any recipient of your choice. This is a great way to share the depth and stability of your creditworthiness with potential employers, landlords, lenders and embassies.

It’s like having a financial version of your social media profile. Only safer and free from trolls, scammers, and spammers. Managing and sharing your credit profile is straightforward with a secure account with CreditRegistry.

When your credit report comes directly from CreditRegistry, all parties can be sure of its authenticity. It’s a reliable way to share information that can demonstrate your responsibility and trustworthiness with paying back your debt.

2: To Monitor a Dispute

It can be stressful to encounter a mistake on your credit report. How can you resolve it – and how will you know it’s been resolved correctly?

CreditConnection has a feature to help you dispute inaccuracies in your credit report and personal information that lenders see.

A CreditConnection subscription makes this easy: you will get emails to alert you to changes or you can simply log in periodically to check your credit report. Once you file a dispute, CreditRegistry will contact the provider of the information, who is then obligated to research your dispute and resolve it within three weeks.

Using CreditConnection is fast and secure and it is similar to logging into an online banking service.

Users like it because it helps them to rapidly review and correct information in their report or profile.

3: To Track Your Progress

If you are paying down several loans or are working towards improving your credit, monitoring can provide important feedback on your progress.

CreditConnection enables you to see the regular progress of your loan repayments and how they affect your SMARTScore.

Your SMARTScore is a numerical indicator of your creditworthiness – the higher your score, the more lenders would like to do business with you.

If you’re planning to borrow soon or to rent a flat or if you’re working to build your credit, tracking your SMARTScore as it improves can provide a great morale boost!

Imagine the possibilities. Tracking your credit score at least once a month is not just a smart way to be financially responsible with your credit standing, it’s also an efficient way for you to plan your finances and future goals.

Similarly, if your goal is to get out of debt, it can be wonderful to watch your balances decline as you pay down each loan. Checking in regularly can give you a sense of progress and accomplishment after all the hard work that goes into loan repayment.

4: To Run Your Business

If you’re an entrepreneur, you might need to regularly access credit or manage existing loans.

CreditConnection makes it easy to check in regularly and share your report with potential lenders. That might include a traditional bank or a vendor with whom you’d like to establish better credit terms.

Automatic alerts make the process even more efficient by ensuring you’re updated as soon as there’s a change to your credit report.

CreditConnection makes it easy for busy entrepreneurs to see all of their loans in one place so that they can plan, prioritise and run their businesses letter.

5. Secure your account

Whether you’re an entrepreneur or an individual, securing your credit profile is vital especially today where identity theft and fraud is prevalent. CreditConnection gives the peace of mind to secure, monitor, dispute and share your credit information with confidence.

If you’re a business owner, you can also use CreditConnection as a KYC tool to verify your prospective customers’ legitimacy before doing business with them and to monitor customers that owe you money.

Are you wondering about credit monitoring, or do you have another question about CreditConnection?

Be sure to leave a note in the comments – whatever needs you to have when it comes to building and managing your credit, we want to know about them!

Click here to contact us for more information CreditRegistry.ng/contact-us