Thanks to Jonathan @ MyMoneyBlog, I found out about this free service. It appears Equifax is providing Paypal users with two of their eleven credit watch alert services. Assuming you have a Paypal account, you’ll receive the following from Equifax:

  • Alerts for any credit inquiries (authorized or not)
  • Balance changes over a dollar or percentage amount you specify

Why would anyone want these alerts? First, if you sign up for the alerts, you have one more safeguard in place to help protect yourself from identity theft. Second, it’s good to keep tabs on credit inquiries since frequent inquiries can lower your credit score.

While this service is marginally useful, you should always keep on top of your credit report. If you haven’t done so already, be sure to take advantage of your free credit review at AnnualCreditReport.com–a convenient service sponsored by Equifax, Experian, and Transunion.

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