American Express Credit Secure – The top 5 reasons to pay for Amex credit monitoring, alerts and assistance
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What’s American Express Credit Secure?
For a monthly fee of $14.99 (or an annual fee of $143.99), American Express cardmembers can access their credit reports from the three major bureaus (Experian, Equifax and TransUnion), be alerted of any major credit changes and obtain assistance for card fraud or loss. You can either become an online or offline member.
The key services provided by American Express CreditSecure are:
Credit reports – You can request credit reports from each of Experian, Equifax and TransUnion twice every 30 days. The reports aren’t automatic, however – you need to request them online.
PLUS scores – Your PLUS score is your credit score that is calculated based on the individual credit report information provided by the three major bureaus. The credit score number, ranging from 330 to 830, is designed to represent your overall credit risk, with a higher score indicating a lower credit risk. PLUS scores are not used by lenders and may not match credit scores actually used by lenders – they approximate credit scores used by lenders.
Credit monitoring – CreditSecure scans your credit reports with Experian, Equifax and TransUnion on a daily basis and gives you access to this monitoring.
Credit report alerts – You can receive email alerts of key changes in any of your credit reports, including changes of public records and address changes.
Fraud resolution – A toll-free fraud resolution representative will help you if you lose your cards or they are stolen or if you are a victim of card fraud.
What are the Top 5 reasons to pay for American Express Credit Secure?
1. All new customers who choose monthly billing (rather than annual) are eligible to purchase the first 30 days of service for just $1, so you can try the service before you buy.
2. A great reason to choose annual billing is that it is much cheaper – you pay $143.99 annually, which works out at $11.99 per month instead!
3. CreditSecure members have access to a number of free additional tools online, including financial calculators, simulators and articles. The tools are quite nifty and it’s a big bonus that they’re free.
4. CreditSecure also gives you access to identity theft insurance, which covers reimbursable expenses resulting from fraudulent activity – up to $1,000,000 per policy period!
5. If your credit, debit or charge card is lost or stolen, don’t worry – a CreditSecure representative will help to cancel and replace lost or stolen cards – and not just American Express cards – all your cards. It makes the process much easier if you register the information in advance, however, including which cards you own.
What else do I need to know about American Express Credit Secure?
CreditSecure is not a credit repair organization and it cannot improve your credit report, history or score – the service monitors it all for you and helps you to stay on top of it. The service is also unable to resolve fraudulent activity on your credit report and cannot directly change accurate adverse information.
You can purchase CreditSecure here.