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As a child becomes an adult, spending habits change and the day arrives when the person receives his or her first credit card.

The joys of spending without laying out cash have finally arrived, but they come with a lot of added responsibility.

Individuals should make a point to compare free credit reports to keep their spending in check and maintain an eye on their credit score.

The credit report and overall credit score are holy documents in the hands of lenders for auto loans, credit cards, and home mortgages. An individual's credit score and spending habits are often the deciding factor in funding a loan.

If the credit has not been used in a fiscally responsible manner, the person may spend the rest of his or her lifetime trying to repair the damage done. Many companies will provide a consumer with a free credit report.

These reports include information from TransUnion, Equifax, and Experian credit bureaus.

Identity Guard, Privacy Matters, and Equifax are credit reporting services that give consumers information from all three credit bureaus. Freecreditscore.com and Smart Credit give consumers scores from only one credit bureau each.

It is important that all three scores be reviewed because lenders rely on different ones.

Identity theft has become an increasing threat to many individuals, due to the amount of publicly available information.

Identity theft protection is offered by Identity Guard and Smart Credit as part of their standard packages. This protection includes daily monitoring of financial black markets and Internet chat rooms to make sure that client personal information is not being used by identity thieves.

It also checks to make sure that no unauthorized credit applications are made in the name of the individual.

If errors are found on the credit report, it can take a lot of time and effort to fix them. Consumers often must make numerous written and verbal requests to both the credit reporting agencies and the lenders before any action may be taken. Using the Equifax or Smart Credit service will allow users to report inaccuracies online, saving time and money. One area where these companies really diverge is in terms of free trial periods and fees. While most of them offer a period when the consumer can try the services at no charge, the time varies from five days for Smart Credit to 30 days for Equifax and Identity Guard.

The monthly charges after the free trial period are $1
4. 95 for most, but Smart Credit and Privacy Matters do not clearly list their current monthly fees. Each of these companies has distinct benefits in the form of number of free credit scores, inclusion of identity theft protection, and ability to dispute inaccurate information. Free trial periods range from five to thirty days after which time a reasonable monthly fee will be charged. A consumer can sign up for free trials with each of these companies and compare free credit reports in order to see which service he or she prefers.
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