The point is to make sure that it correct (so your credit score is correct) and to detect identity theft as soon as possible. If you see something on there that you don’t know about or is wrong, be sure to report it to them immediately and while you’re on the phone with them, place your account on “fraud alert”.
This makes it so that every company that needs to pull your credit has to call you personally and answer a series of personal questions in order to allow it. You’ve probably heard of the company Life Lock. This is essentially all that Life Lock does in order to protect your identity. These fraud alerts last for 12 months, so all that they do is renew it for you and charge a fee.