do those identity-protection plans credit card companies offer really protect your identity?
Saturday, July 17th, 2010 at
5:28 am
I will appreciate if you can give some genuine personal experience or prefessional advice
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I researched these companies and products and it is actually a big scam. They don’t really protect your identity. The one thing they can do is help lessen the damage caused by someone stealing your identity. They can notify all of your creditors and the credit bureaus but this is something you can also do yourself – for free.
If you look at the statistics they quote you would think that everyone in the US will have their identity stolen in the next few years. This just isn’t so. Most identity theft occurs within your circle of family or friends. One example would be when a son steals his father’s identity to get a loan because he’s ruined his own credit.
You can protect your own identity just by being careful with your personal information. I shred my bank statements and paystubs and other documents that have my personal information on them. I check my credit a couple of times a year to make sure that no new accounts have been opened. I opted out (via the credit bureaus) of the marketing offers you get from the lenders that buy lists from the credit bureaus. Just be careful with your information and don’t pay them to do something you can easily do yourself. Good Luck
No, they don’t protect your identity. What they do is provide you with a service to monitor your own identity and then point you to what you should do if your identity is stolen. Some of them may provide some reimbursement if you end up paying some fees.
It’s more like an insurance policy.
Above is right it only monitors & let you know if there is an inquiry or changes to your credit. I just ordered ID Freeze with Trusted ID & if I would have had it at the end of last year I wouldn’t be in a terrible situation right now, a creditor had my address wrong. I feel much more comfortable knowing I’ll be alerted to changes sooner than my once a year check that I used to do.
You can protect your own identity, by checking your credit reports every 4 months.
Some are pretty much useless.
But there are some that will help you. The one located on this page ( ) offers your reports and updates to let you know if your identity has been compromised. These are all things you can do yourself, but they do it for your automatically. Best of all, if you are covered by them and your identity is stolen, then will spend up to a million dollars to get your good name back!