Consumer credit monitoring — the practice of consumers checking their own credit reports and scores through credit reference agencies, financial services institutions, and/or other third-party providers — has expanded considerably in awareness and usage over the past decade.
Consumers are increasingly aware of the importance of financial education and understand the role of building and maintaining a positive credit history in accessing credit — which is key to enabling greater financial inclusion. To better understand the distinct profiles, motivations and future outcomes of credit monitoring consumers, TransUnion conducted a global research study examining millions of consumers in various markets who started monitoring their credit through TransUnion for the first time as well as consumer surveys.
