NEW YORK, Feb. 18, 2021 /PRNewswire/ — Credit Monitoring and Credit Protection has been a part of society since the introduction of credit and debit cards. Credit monitoring services aid in protecting oneself from the dangers of credit fraud and theft protection. The process of credit monitoring involves notifying the card owner of potential fraud. This is especially helpful during times when the card goes missing or is stolen.
Credit monitoring services are provided by several credit monitoring bureaus. In addition to credit monitoring, they also provide identity protection services. The team at Theft Protection Experts aim to find the most secure portals through which one will receive protection for their identity as well as credit card protection. They help to compile a list of the various credit monitoring and protection services on the basis of their ranking. The experts scan through various reviews in order to find the most satisfactory option. They always work to provide an unbiased review in order to gain the most credibility.
Theft Protection Experts has listed IdenityIQ and Identity Guard as the best credit monitoring & credit protection providers for 2021.
IdentityIQ has been around for approximately 25 years and has provided identity security to an ever increasing user base. IdentityIQ is a part of a larger security company, IDIQ. This company has also been a contributor to internet security and credit protection. This company is exclusive to the United States of America and will therefore specialize in the US-based credit system.
IdentityIQ offers its services to the individuals that enroll themselves in particular plans. There are four plans available at IdentityIQ. The most expensive plan is the Secure Max which is priced at $29.99. The cheapest plan comes in at $6.99 and is known as the Secure plan. All the plans function on a monthly basis.
The secure plan provided by IdentityIQ possesses the most basic features. It includes a large sum of $1 million in reimbursement for stolen funds. In addition to this, one will also receive daily credit monitoring from a bureau. An individual can obtain security on the dark web to prevent one’s information from being collected unlawfully. One can also claim coverage for lawyers in case of identity fraud, minimal personal compensation, alerts regarding the social security number and assistance in the times when one loses their wallet. The plan also offers reports on one’s bank accounts and control over junk mail and do-not-call lists. The plan includes a tool for identity restoration which is exclusive to the US.
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In between the two extremes, IdentityIQ also offers two more affordable plans. The Secure Plus Plan and the Secure Pro Plan. These plans possess the same features as that of the Secure base plan but also include a few extra features. The Secure Plus of IdentityIQ plan involves the provision for one to receive the change of address notification as well as an annual three-bureau report on one’s credit card activities and scores. This plan will cost one $9.99 on a monthly basis.
The Secure Pro plan is a culmination of both the base Secure and Plus plans. In addition to this, it also includes advanced credit monitoring services. These services will notify one about changes in the credit score and neighborhood crime reports. The three-bureau credit reports and scores will occur twice a year with this plan. The price of this plan is $19.99 per month.
The Secure Max is an all-encompassing plan that provides its clients with the utmost credit card protection services. The additional features that come with this plan is a family protection agreement of $25,000 in identity theft insurance and fraud restoration services. It comes with a credit score tracker and simulation creator. The identity fraud restoration service comes with the services of a lawyer as well. The three-bureau report and credit scores will now be monthly. The most significant feature of this plan is the free inclusion of one’s family members in the coverage against identity theft.
More about IdentityIQ Plans on their official website: Here
The million-dollar identity theft coverage is applicable to the person who loses money after the interference of an unauthorized party. The interference refers to the transfer of funds from an account. The coverage will help to take care of the legal fees and fixed wages for a maximum of five weeks as well. And all of this will not be under the strain of taxation.
A few shortcomings regarding IdentityIQ are few. One cannot access the IdentityIQ services through an app. In addition to this, there is no provision for protection on social media through tracking as well as the lack of a computer antivirus. The absence of the social media tracking feature means that one will not be able to find out if there are impersonators on any of the apps.
The process of creating an IdentityIQ account is fairly simple. The first step requires an individual to select a plan. Upon selecting a plan one would have to create an account using basic personal information. IdentityIQ will then ask one to disclose their financial information like credit card number and more in order to monitor the credit card activities. The other function of disclosing this information is to conduct reports and obtain credit scores.
The customer service team at IdentityIQ caters slowly to the US customer base and is present in the US as well. The team is available for around 12 hours (7 am to 7 pm) on weekdays. The individuals working for the customer service will contact the account holder regarding certain notifications. In order to contact customer service, one can call 877-875-IDIQ.
IdentityIQ does not provide an entirely free trial period. After paying a fee of $1 one will be able to try out its services for around a week. This is very unusual for credit monitoring companies as all its competitors provide free credit monitoring services for a week to a month.
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Identity Guard uses third party intelligence collection technology to collect information about potential identity threats. The artificial intelligence technology comes from IBM’s Watson system. This system works to gather information regarding threats and frauds. It is known to be one of the fastest technologies in notifying individuals about incoming security infringements. In fact, it can also occur in real time. Clients of Identity Guard will receive credit monitoring from the three major bureaus that are Equifax, Transunion and Experian. However, this is only available for the Total and Ultra Plan clients.
The main feature of this credit monitoring service is the partnership that it has with the Watson Computing system. This system possesses cognitive skills that can map out payment behaviors to protect an individual from identity theft. In a sense, the system can track digital activity which refers to the digital transactions that one carries out. After doing so, one will receive real time protection from phishing websites. The main working principle of this Identity Guard is that the artificial intelligence technology scans through hundreds of articles and posts on social media. After scanning one will receive a notification whether or not there is an infiltration of one’s privacy online by fraud websites. Therefore, this system acts as an anti-virus in addition to a credit protection company.
More about Identity Guard and its plans on the official website here
Identity Guard is cheaper in comparison to other credit risk monitors like IdentityIQ. The Identity Guard provides a total of three plans. These plans can cater to an individual or a family. The basic pack is known as the Value Plan which is also the cheapest. The price of this plan is around $7.50 for each month. However, unlike other companies, it does not provide free coverage to family members. The family plan that comes with the Value Plan costs $12.50. This plan includes a standard identity protection feature in addition to a few features of credit monitoring services.
The Artificial Intelligence, Watson, works towards creating a safe browsing environment for their clients. This is possible through the real time scanning of mails, social media posts and public articles. This aids in protecting an individual during online shopping and net banking. One will receive a case manager to provide their clients with an additional helping hand. Credit monitoring services and monthly credit score evaluation is not available with this plan. In addition to this, the plan does not provide address monitoring services and alerts about tax deductions.
Identity Guard offers the Total Plan. This Plan possesses an advanced identity theft protection. The plan also includes a three-bureau monitoring of credit card activities and an evaluation of one’s credit score. This evaluation occurs monthly. The price of the Total Plan is $16.67 for a single user. The family plan is around $25. Identity Guard does not collect one’s financial information on one particular server. This decreases the chances of one’s information being stolen from their databases.
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The most expensive and comprehensive plan is the Ultra Plan. Identity Guard provides all the features of the other two plans in addition to a few advancements. The additional features include, three bureau reports a year. They also monitor one’s credit and debit cards, criminal offences and home title monitoring. In addition to this, it also aims to create a detailed account of one’s investments and retirement funds (401K) by monitoring them.
The price of this plan is $33 each month for a family. It costs $25 each month for an individual.
Identity Guard also comes with an app. This app can be downloaded from any app store. It sends out notifications regarding a website that may be infiltrating one’s privacy, vulnerable transactions online and other credit protection services.
The most significant features of this Experian credit monitoring company is that Watson can provide one protection even on the dark web. It is optimized for financial protection on the internet. In addition to this, one will receive a monthly evaluation of credit scores through Transunion data that one provides to the company. They can notify an individual when a person uses their Social Security number to obtain tax refunds. But more importantly, protection with Identity Guard goes beyond just transactions. It also involves protection on social media. This is rarely seen in the plans provided by other credit monitoring companies.
Unlike other companies, Identity Guard allows one to pay an annual fee instead of monthly. The process of opening an account involves choosing a plan that is suitable for either an individual or a family. Then one can create an account. Finally, information like one’s social security number, date of birth and account numbers will be given. The website makes this process very streamlined. In addition to this, one could log in to their account on the app as well.
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The above process is only the enrollment into a plan. After this, one will create a watchlist. The names of websites on this list will be watched closely. One will also receive a risk monitor. Alerts will be given in real time. And the final step includes the restoration of one’s identity. This restoration involves reimbursing the full fund or partial fund lost.
Identity Guard also has a customer service that is available at odd hours as well. From Monday to Friday, one can avail the help of a service team from 8 in the morning to 11 at night. However, they are only available from 9 in the morning to 6 in the evenings on Saturday. In addition to this, one can make an inquiry either on the website or the app. After doing so, one will receive the assistance of a service team within a day or two.
There is no possibility of participating in a trial period for free. However, the company does allow one to retain their funds in case they want to give up a subscription. Therefore, there is no possibility of availing free credit monitoring services for a short time.
Credit Monitoring is an essential service provided by these companies. It could potentially save a person thousands of dollars or their savings. According to sources, identity theft can affect 16 million Americans annually and cause devastating results. Identity Theft is one of the first steps of credit card fraud.
The other problems that come with resolving this issue are that an inordinate number of hours is spent determining the extent of the damage that was caused. In addition to this, one would have to find out where the fraud took place.
The requirement of hiring identity theft protection goes beyond just credit fraud. In fact, credit fraud is one of the many benefits that come with becoming a subscriber. Another aspect of identity theft involves someone stealing a person’s identity and adding more information in order to create a new identity. This is known as synthetic identity theft. The other form involves the identity theft that occurs with kids. A fraudster will use the identity of the child to create a new identity.
More about Identity Guard and its plans on the official website here
Regarding financial frauds, one can also lose control over their account. This means that another person has access to the funds and could carry out several transactions. Fraud activities can also take place with a new account. This is when a fraudster opens an account in another person’s name. This type of crime is especially hard to detect as one will not be able to prove their innocence very easily.
The final type of fraud is the Tax Fraud. This fraud occurs when a person files for a tax refund using another person’s account. Therefore, an innocent will not lose their tax refund but also be under the IRS scanner for fraud activities. The IRS could initiate a probe imploring the individual to show proof of all earned wages.
The most sure fire way of preventing these occurrences is to run credit reports. The credit reports include reports about one’s credit activities through the databases present in Experian, TransUnion and Equifax.
The basis of credit monitoring involves finding any changes in credit card information. These changes can either be voluntary or knowledgeable changes by the account holder or changes by a fraudster. All alterations will be reflected in the credit report. At both these credit monitoring companies above, one will receive an expert team that will review a few inconsistencies. These inconsistencies include changes in address, change in personal information, new accounts and others.
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This research has been a collaborative effort from the team at Theft Protection Experts. With the increase of dependence on digital banking and shopping, an individual is present in a vulnerable situation. For this reason, one will have to rely a lot on the Theft protection services. Therefore, a person will receive all the information regarding plans and prices, on Theft Experts about all the possible companies. They can also view and note down the different features that come with each plan. In addition to this, an individual can compare two or more protection companies as well to find the best credit monitoring service provider.
SOURCE Theft Protection Experts