TransUnion Review: Credit Score Monitoring

TransUnion is one of the three major U.S. credit bureaus. It also offers a paid credit monitoring service.

A good credit score is essential to building a solid financial foundation. That's why it’s important to know exactly what your credit score is and monitor it for any changes. 

Watching your score can help you identify any problem areas and make the necessary adjustments. TransUnion allows you to keep track of your credit. Learn more about this tool in our review.

What Is TransUnion?

TransUnion entered the credit business in 1969 when it purchased the Credit Bureau of Cook County. Since then, it has grown into one of the top three credit bureaus in the United States.

On one side, the company helps lenders and financial institutions make decisions based on credit information it collects about consumers. But it also offers consumers detailed information about their personal credit. 

What Does It Offer?

TransUnion offers a monthly subscription that includes credit monitoring, identity theft support, and more. We take a closer look at the features of the plan below.

Access To Credit Report And Score

A low credit score could lead to paying more interest on your loans or not getting approved for the financing you need for major purchases, like a home or vehicle.

As a part of TransUnion's monthly plan, you’ll get unlimited access to updates made to your TransUnion credit report and credit score. If you are closely monitoring your credit ahead of a big financing purchase, these details can be useful.

If something is added to your credit report, you’ll get an email update.

Credit Monitoring

TransUnion will let you know if someone applies for a credit account in your name. Since a quick response might help you stop a problem in its tracks, this is a helpful feature.

You’ll also have the ability to lock and unlock your TransUnion and Equifax credit reports. But you do have the option to freeze and unfreeze your credit report through both of these credit bureaus for free without any monthly subscription costs.

Credit Score Simulator

TransUnion offers a credit score simulator to help you determine exactly how a specific credit choice could impact your credit score. For example, if you are planning to open a credit card, the score simulator could help you project how it might affect your credit score.

This is an especially useful tool if you are working to build your credit. You can run some simulations to see what may happen before committing to an action. For actions that could hurt your credit score, this could make you think twice.

Personalized Information About Your Debt And Credit

TransUnion offers a personalized debt analysis to help you create a debt pay off 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 grow. But if you notice a downward trend, you can find out why your credit score might be falling.

Identity Theft Support

If you suspect that your identity has been stolen, you can reach out to TransUnion's identity theft specialists for support. They can guide you through the process of getting your financial life back on track.

Additionally, you can tap into up to $1,000,000 of identity theft insurance through your TransUnion membership. The policy doesn't cover money that was stolen from a bank. But it will cover lost wages, travel expenses, legal consultations, and dependent care. 

Are There Any Fees?

TransUnion offers straightforward pricing, with a monthly subscription costing $29.95, plus tax. 

How Does TransUnion Compare?

TransUnion isn’t the only service you can use to dig into 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 TransUnion data to reproduce 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 paying a monthly fee and want to monitor your credit across all three credit bureaus, myFICO's paid plans might be a better fit. The detailed credit monitoring will give you more information, but you’ll pay $29.95 to $39.95 per month. It does offer 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, such as your name, birthday, last four digits of your Social Security number, email, address, and phone number. Also, you’ll need to provide a payment method. 

Is It Safe And Secure?

Using TransUnion to monitor your credit won’t have an impact on your credit report. Beyond that, the company has a wide range of security measures, including encryption, in place to protect your data. 

How Do I Contact TransUnion?

If you need to get in touch with TransUnion, you can call 1(855) 681-3196. The support team is available on weekdays from 8 a.m. to 9 p.m. and weekends from 8 a.m. to 5 p.m. in Eastern Standard Time. 

Is It Worth It?

For a detailed look at your credit data from TransUnion, the monthly subscription fee could be worth the cost. However, if paying $29.95 per month isn’t in your budget, you might want to check your credit report for free instead, and tap into free credit monitoring services.

Check out TransUnion here >>