How to Monitor Your Parents' Credit Score

Are your parents getting older and having trouble managing their finances? If so, you may be able to help. Whether your parents have granted you authority over their finances or not, you can assist them in monitoring their credit.

Keeping an eye on your parents' credit scores isn't just about making sure they maintain good credit. Identity thieves often target older adults. By helping your parents track their credit scores, you can protect them from financial losses. This article will take a closer look at how to monitor parents' credit scores.

How to monitor parents' credit scores

Get copies of credit reports regularly

All consumers are entitled to a free copy of their credit report every 12 months. You can access their reports at AnnualCreditReport.com.

Sign up for a credit-monitoring service

Before you and your parents rush to pay for a credit-monitoring service, check to see if you already have access to credit-monitoring services. Many banks and credit card issuers regularly update their account holders' credit scores. Kikoff is one of them.

If your credit-monitoring service sends an alert notifying you that one of your parents' credit scores has dropped, you'll know to get a copy of their report to look for common credit report errors or signs of fraud.

Freeze your parents' credit

Freezing your parents' credit prevents anyone from opening new credit accounts in their name. This can be a helpful measure if you have reason to believe that one of your parents may have had their identity stolen.

What to do if you find errors in your parents' credit report

Consumers have the right to dispute errors on their credit reports with all three major credit bureaus. If you think the issue is the result of identity theft, you should report it at IdentityTheft.gov right away.

If you haven't already, this is also a good time to place a fraud alert.

Conclusion

Whether you're wondering how to monitor parents' credit scores or want some help tracking your own, Kikoff is the answer. We're best known for helping our customers build credit, but that's not all we do.

Getting started with Kikoff is easy, and there's no credit check required. Set up your account and start building today.