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Credit Monitoring Service

Definition
A service offered by many credit card issuers and the three main credit bureaus that involves monitoring credit activity for cardholders. Customers who sign up for such a service pay a monthly fee and receive insurance coverage that will pay for losses (up to $1,000,000 in some cases) in the event of ID theft. Additional features of some services include regular access to credit scores and alerts regarding any new or suspicious credit activity.

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