Credit watch

Credit watch,

Definition of Credit watch:

  1. Credit watch refers to a variety of special programs offered by credit rating agencies and financial institutions to monitor an individual's credit report for any credit-related changes, also known as credit monitoring services. The individual is notified of these changes which allows the person to act on any red flags before they can have a detrimental effect on credit score or credit history if the activity is fraudulent. Subscribing to such a service can also be used as a form of protection against identity theft.

  2. The ability for an individual, business, or corporation to obtain credit based on a rating by a credit bureau.

  3. A credit watch service tracks changes in borrower behavior in order to notify consumers of potential fraud, as well as changes to their creditworthiness. While these are increasingly available for free, several of them still are fee-based services. Most of the credit watch paid services will notify the individual within a business day whenever a credit application is made and shows up on your credit report. The intent of this service is to alert individuals of changes to their credit reports. These updates make it easier to determine whether personal information has been compromised.

How to use Credit watch in a sentence?

  1. These services may be free or come as a fee-based service. Often the free services are bare bones.
  2. Credit watch services will notify the individual within a business day whenever a credit application is made and shows up on your credit report. The intent of this service is to alert individuals of changes to their credit reports.
  3. Credit watch refers to a variety of special programs offered by credit rating agencies and financial institutions to monitor an individual's credit report for any credit-related changes.

Meaning of Credit watch & Credit watch Definition