moneysupermarket.com credit monitoring & ID theft channel

moneysupermarket.com (LON: MONY) has announced the launch of its credit monitoring and identity theft channel, helping consumers track their own credit profile, and providing the opportunity to compare credit reporting and identity theft products. The site lists free trials, cancellation terms and pricing information for each product, as well as a further detailed guide for consumers who want information on ways to improve their credit profile.

With access to many financial products being restricted to people with good or excellent credit profiles, it is vital that consumers understand their own credit profile file so they apply for the correct product for their circumstances. 

For consumers who have experienced problems getting credit, it is also important to check your credit files to see the potential reasons for being declined, as in some cases this can be due to incorrect information or even fraudulent activity being registered under your name.

Tim Moss, head of loans and debt at moneysupermarket.com, said; "This is an important development for moneysupermarket.com users. Forget Apple's new iSlate - a good credit rating is the must-have item for 2010, and there are some simple steps we can all take to ensure we are as attractive as possible to lenders in these difficult times. moneysupermarket.com visitors will find useful tips on improving their rating when they surf the new channel.

"It is imperative for all UK banking customers to check their credit profile, as this will provide an invaluable indication of which financial products you will be accepted for, it will also give you the opportunity to clear up any inaccuracies on your file. Consumers should remember that being turned down for credit is likely to have a negative impact on your overall credit rating, whereas taking a sneak peak at your file will have no impact at all.

"It should come as no surprise to hear that the business of providing credit reports is a growing one, and our new comparison tool will help consumers find what they need to get a look at their own profile."