TransUnion Launches Credit Monitoring App for iPhone

More consumers are banking, keeping track of their finances and making purchases with their smartphones, so why not monitor your credit reports as well.

TransUnion, one of the three major credit bureaus, hopes to expand its base of subscribers who sign on to their credit monitoring service for about $17 a month.

The credit reporting agency announced Tuesday that it is launching a mobile credit monitoring app for iPhone users, with an Android version on the way.

The app allows consumers to review their credit information from their smartphone, and get alerts to help better protect them against identity theft.

“People are more mobile than ever before; with TransUnion’s credit monitoring App, they are connected to their credit information whenever and wherever they want it,” said Julie Springer, vice president at TransUnion.

The new app is available to those with a current TransUnion credit monitoring membership.

A study cited by TransUnion found that 53 percent of U.S. adults say they use online banking and investment applications regularly, and 70 percent of those users say these tools make them more diligent about tracking finances.