American Express is a global services company that provides its customers with access to a wide variety of products and services that deliver insights and experiences that will enrich their lives and help them build a successful financial future.
Although the company mainly focuses on credit card services, one of the company's products, CreditSecure, provides credit monitoring and identity monitoring services to consumers.
With CreditSecure, consumers can receive daily credit monitoring and refresh their FICO scores and tri-bureau credit reports every 30 days. The American Express-offered service also provides consumers with credit utilization and credit limit alerts.
Keep reading to learn more about American Express CreditSecure's credit monitoring service.
American Express CreditSecure will send customers an alert any time it detects a key change to their credit report. This is designed to help consumers take immediate action to prevent theft and fraudulent purchases. It will also alert consumers if anyone opens any new accounts in their name without their knowledge or permission.
While some other credit monitoring services only provide single credit bureau monitoring, American Express CreditSecure monitors all three credit bureaus and collects the information which is then reported to consumers in a variety of ways.
This tri-bureau monitoring provides consumers with a full picture of everything that's contained in all their credit reports so they can immediately take action if they find errors or if something's not quite right.
American Express CreditSecure will provide consumers with a PLUS score, which is designed to reflect consumers' overall credit risk. PLUS scores are calculated based on the information in each credit report for all of the three major credit bureaus.
The PLUS score will most likely differ from consumers' FICO score, which is the score that the majority of lenders use to determine creditworthiness. Therefore, consumers shouldn't solely rely on their PLUS Score as a basis for credit.
The CreditSecure service comes with a dedicated credit representative who can provide consumers with customized assistance to help them make educated assessments about their credit score and reports.
This service will also provide customers with step-by-step fraud assistance that will help them resolve any potential fraud issues should they occur.
Additionally, CreditSecure gives customers access to practical financial tools and educational articles to help them make more educated decisions about their particular financial situation.
American Express CreditSecure, unlike some of its competitors, provides consumers with FICO scores. Since the FICO scoring model is more popular among lenders than other scoring models, it can be good for consumers to especially keep track of their FICO scores.
American Express CreditSecure offers consumers a 30-day service trial that costs a low fee of $1. Once these first 30-days are completed, the company will charge consumers $16.99 on a monthly basis for the subscription.
American Express CreditSecure has a 30-day refresh rate while many companies in the credit monitoring industry offer weekly or even daily report refresh rates.