WalletHub Credit Monitoring Review of April 2024

Last Update: March 11, 2023 Identity Theft Companies Reviews

Over the years, WalletHub has offered several beneficial personal finance resources to customers in the United States. They have established admirable authority in this field and continue to build it by offering legitimate, relevant, and helpful information to many people across the country.

This article will review one of their most discussed services – their credit monitoring service. Many of you have wondered whether this is necessary, how useful it is, etc. This is where you will find answers to all your questions and, hopefully, be able to decide whether this is the right service for you.

What is WalletHub Credit Monitoring?

WalletHub offers credit monitoring for free to all people who apply for it. Therefore, you don’t have to worry if this will cost you any money.

Also, this credit score is updated daily, so you will be able to see the minutest changes in your credit score. Credit bureaus don’t update credit scores daily, which should probably be translated to ‘the-fastest-updating credit monitoring service.’

Nonetheless, you will rarely need to check your credit daily, so this is a very convenient method.

When you want to get a credit report, WalletHub will pull it for free from TransUnion. Therefore, the report will be fully accurate.

However, this report comes in the VantageScore 3.0 model. The difference between VantageScore and FICO score systems can be up to 50 points in some cases, so you should be prepared to do some converting or get a report from another source if you want to know your FICO score.

It would help if you also kept in mind that FICO is still the most reliable and widely used system. Most lenders use FICO scores, which might present a small issue when you present your score to them.

Signing up and Privacy

The sign-up process is rather simple, and it shouldn’t take you a lot of time.

As the first step, you will be asked to provide your full name, date of birth, and email address. After that, you will need to create a password and enter your address and phone number.

Additionally, you will be asked to enter your social security number’s last four digits. This is necessary because they need to match your TransUnion account’s identity. You don’t have to worry about your privacy since they will have only the last 4 digits of your SSN, and there is not much they can do with this.

Note: WalletHub needs your phone number to send you important alerts and improve your account security. You can always opt out of all SMS notifications if you prefer.

Features of WalletHub

  • 100% free credit report and identity theft protection

First and foremost, this service is free of charge. Therefore, there is no reason to worry about anyone trying to sell you something. This is completely free of charge, so you can try it and decide if you like it.

  • Absolutely legitimate

This is only natural since WalletHub is a website with great authority. Still, we want to assure you that this service is not a scam and is fully legitimate.

  • Daily updates

At this time, WalletHub is the only company that offers daily updated credit monitoring.

As a US citizen, you are entitled to three free credit reports a year through credit bureaus. Still, if you need to check your credit score more often, many websites offer weekly, monthly or quarterly reports.

However, WalletHub went a step further to enable you to check your score every day, all year long. This is probably the main advantage of this credit score service. WalletHub updates your credit score daily, thus giving you insight into every little change that occurs in your score.

  • Full

Some services offer a full report, and some offer only a part. WalletHub pulls your full credit report to give you full insight into your financial situation.

  • VantageScore model

As we have already said, WalletHub uses the VantageScore 3.0 model to calculate your credit score. This is not fully compatible with the FICO score model. Therefore, this might present smaller difficulties, but nothing too big. But this is what almost every other company does. All identity theft protection companies don’t offer FICO. Still, some companies prefer Vantage Score instead of FICO, although they are less.

  • The only site that provides a condensed timeline report

WalletHub is the only website that condenses credit reports into a timeline. This way, it is easier for you to track your credit score changes.

WalletHub vs LifeLock, CreditKarma, CreditSesame

All of these credit monitoring services offer great options. However, some of them offer features that others don’t.

LifeLock offers great options, such as the possibility to pull your report from all three bureaus. However, they charge their credit monitoring service.

CreditKarma is free and offers weekly credit monitoring. They also give you access to two bureaus: TransUnion and Equifax.

CreditSesame is also free, but it offers monthly credit monitoring from TransUnion. However, here you have the option to see your total debt, which can be very useful.

Finally, WalletHub provides daily credit monitoring, which is free of charge. They pull your report from TransUnion.

As you can see, there are numerous options for you to choose from when it comes to credit monitoring. It is up to you to carefully consider each aspect and decide.

We sincerely recommend WalletHub’s credit monitoring service since it is free, legitimate, and reliable. If you try it today, it might turn out to be one of the best decisions you have made regarding your personal finance.



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