Experian has launched a credit report monitoring service in the UK that alerts people when potentially fraudulent credit activity has taken place in their name.
The CreditExpert service provides users with online access to their full credit report, enabling them to track changes whenever they want and see who is searching their report.
Experian says the number of reported identity frauds has doubled in the last two years and costs the UK £1.3 billion a year.
Priced at £49.99 per year, the system sends a message by e-mail or SMS text to subscribers when important changes have taken place on a credit report. As soon as an alert is received, users can gain online access to their personal credit history via www.creditexpert.co.uk.
Subscription includes an online quarterly newsletter with topical articles and features on personal finance issues. An online Members' Centre provides access to calculators to help with personal finance decisions (such as how to calculate how an interest rate change can affect monthly repayments).
Subscribers may also raise queries, via freephone or online, with a dedicated customer service team.