My credit union told me I was wasting money with credit monitoring services

I was paying $30 a month to Experian for their premium plan. My loan officer at a local credit union in Phoenix said I could just use free tools like Credit Karma and my bank's built in score checker. I canceled the paid service and my score actually went up 15 points after 3 months because I stopped obsessing over daily changes. Anyone else get told they were overpaying for something similar?

2 comments

2 Comments

shane_williams413d ago

Well, isn't it funny how the people trying to sell you something always leave out the part where you can get the same thing for free? I bet your loan officer was biting their tongue from laughing when you mentioned that $30 a month. Credit scores are a bit like watching water boil, if you stare too long you'll think it's never going to happen. Good on you for listening to someone who wasn't trying to make a buck off your anxiety.

robertb3011d ago

Started reading this article the other day about how Experian actually makes more money from people paying for their credit monitoring than they do from selling data to lenders. Ngl that made me look at those $30 monthly pitches differently. Shane's right though, you can pull your credit reports for free every week now through AnnualCreditReport.com, no tricks. Honestly the only thing that really moves your score is time and paying stuff on time, not some subscription that sends you alerts. Tbh I learned that the hard way after signing up for one of those services back in 2020 and realizing I was basically paying to watch a number that barely budged month to month.