Just as we provide a layered approach to cybersecurity services, taking your credit’s security to a layered approach is critical. The layers are as follows: credit monitoring, credit locking, social security monitoring, downloading current credit reports on a regular basis, credit alerts, and identity theft insurance. All these protection layers provide you a safety-net of protections to monitor, identify, alert, and respond to credit report threats on your three bureaus (Experian, TransUnion, and Equifax).
The basics all the plans provide are 3-in-1 credit monitoring and locking; identity monitoring; social security monitoring; credit reports. The services to range between the different companies. Inquire with them by clicking on the links below.
We recommend any one of the following services for credit monitoring:
- > Equifax
- > LifeLock
- > TransUnion
- > Experian
What is credit monitoring services?
Credit monitoring services are designed to help individuals keep track of their credit reports and alert them to any changes or suspicious activity that could indicate potential identity theft or fraud. These services typically work by regularly monitoring an individual’s credit file with one or more of the major credit bureaus, such as Equifax, Experian, and TransUnion.
Here’s how credit monitoring services generally work:
- Regular Monitoring: The service continuously monitors the individual’s credit reports for any changes, such as new accounts being opened, inquiries made by lenders, or changes in personal information.
- Alerts: If any significant changes or suspicious activity are detected, the credit monitoring service sends alerts to the individual via email, text message, or through their online dashboard. These alerts prompt the individual to review the activity and take appropriate action if necessary.
- Identity Theft Protection: Some credit monitoring services also offer additional features such as identity theft insurance, fraud resolution assistance, and credit freezes or locks to help prevent unauthorized access to credit reports.
- Credit Score Tracking: Many credit monitoring services also provide access to the individual’s credit scores and offer tools to help track changes in their credit score over time. This can help individuals understand how their financial behavior impacts their creditworthiness.
- Educational Resources: Some credit monitoring services offer educational resources and tools to help individuals better understand credit, improve their credit scores, and protect themselves from identity theft and fraud.
It’s important to note that while credit monitoring services can help detect potential identity theft or fraud early, they do not prevent it from happening. They are just one tool individuals can use to stay vigilant and protect their financial information.
What is Identity Theft Insurance?
You can choose plans which also provide identity theft insurance. These would cover you for $1M and up to $3M depending on the plan and would provide remediation services to restore your identity. You can read more about it here.
Identity theft insurance is a type of insurance designed to help protect individuals from financial losses and expenses incurred as a result of identity theft. When someone’s personal information is stolen and misused, it can lead to various financial issues such as unauthorized purchases, fraudulent loans, or even legal fees to resolve the situation.
Identity theft insurance typically covers expenses such as:
- Fraudulent charges: Reimbursement for unauthorized charges made on credit cards or bank accounts.
- Legal fees: Assistance with legal expenses incurred while resolving identity theft issues.
- Lost wages: Compensation for time taken off work to address identity theft-related matters.
- Credit monitoring: Services to monitor credit reports for suspicious activity.
- Identity restoration: Assistance with restoring one’s identity and credit history, including assistance with paperwork and contacting relevant authorities.
It’s important to note that identity theft insurance doesn’t prevent identity theft itself but rather helps mitigate its financial consequences. Many insurance companies offer identity theft insurance as a standalone policy or as an add-on to existing homeowners’ or renters’ insurance policies.