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LendingTree Launches Free Credit Monitoring

Online loan marketplace LendingTree is expanding its horizons today. The North Carolina-based company introduced a free credit monitoring service for members of My LendingTree, a financial intelligence platform launched in 2014.

Through a partnership with TransUnion, LendingTree monitors credit profiles of My LendingTree’s 7 million enrolled users on a daily basis and notifies them of any changes within 30 minutes of the report activity. Users with the LendingTree mobile app will be alerted of changes via a push notification. Upon receiving a credit notification, users can confirm or dispute the activity within the My LendingTree platform.

“LendingTree empowers consumers with the information they need to feel more confident in their financial decision making,” said Charles Battle, LendingTree’s Senior Director of Product Management. “By adding free credit monitoring to My LendingTree, we’re making it even easier for consumers to manage their credit and monitor their financial health.”

This new offering falls outside of LendingTree’s core competency as a loan match-maker. However, it helps create a relationship with consumers who may not be shopping for a loan but may be looking to borrow in the future.

Since it was founded in 1998, LendingTree has facilitated more than 65 million loan requests. The company went public on the NASDAQ in 2000 and was acquired by InterActiveCorp (IAC) in 2003. At FinovateSpring 2015 the company debuted My LendingTree, a personalization platform with a dashboard to view all credit-related accounts.