IDENTITY THEFT

A $50 Billion industry is big business. Unfortunately, that's how much fraudulent activity is charged each year stemming from identity theft. It's a big business alright; and one in which you are a potential victim.

There are a variety of ways in which data thieves can steal your personal information. They can sift through trash to find bills and credit statements; they can steal credit and debit card numbers when your card is used; they can "phish" your email and retrieve your data while posing as legitimate businesses. The list goes on and on.

Once they have your data, it doesn't take long for them to wreak havoc:

•  They can drain your bank and checking accounts

•  They can open new loans for cars and other big ticket items

•  They can charge your accounts for vacations, home furnishings, even liposuction and surgical procedures

And after you realize you're a victim, it can take months or even years to straighten out the mess.

While no one can guarantee that your personal information will never be stolen, Identity Theft Protection services work to make sure that this information can not be used to bring you harm. In fact, the CEO of one of these services freely advertises his Social Security Number because he is protected as a client of his company.

There are a number of features you'll want to consider when looking for an Identity Theft Protection service. Some of these include:

•  Services offered.  Some companies provide extensive protection and monitoring services; others provide just basic reporting.

•  Cost.  The cost for these services can vary widely. You want to be sure you're getting good value for your dollar.

•  Guarantee.  Some services provide no guarantee of protection; others provide up to $1 million worth of coverage.

We hope you find this information valuable in protecting your identity and credit files today!

 

 

LIFELOCK

 

 

Cost:

$12.95 per month

 

Various products are being developed through Trusted ID. Their first product available to protect against Identity Theft is ID Freeze. ID Freeze offers the following features

•  Bankers must call and double check your identity when they receive a new credit request

•  Monitoring of your credit card numbers

•  Stop pre-approved credit offers from being mailed to your home

•  Receive a credit report evaluation

•  Have access to identity theft and restoration specialists

Another product we liked was the StolenID Monitor. For free, you are able to search the Trusted ID database to find out if your social security number or credit card information have already been stolen. If they haven't, you have the option to try StolenID Monitor free for one year. This product will monitor up to three pieces of data (SSN's, credit card numbers) and will alert you if your data is being misused.

Trusted ID backs their services by offering to pay up to $1,000,000 to cover any out-of-pocket costs associated with identify theft for their customers. This is a welcome show of confidence in the strength of their products.

Trusted ID offers their ID Freeze service for $12 / month, or $110 per year. For additional fees you can utilize their StolenID Monitor (free for the first year).

Trusted ID offers services very similar to top-rated LifeLock. For their monthly fee you receive identity theft protection backed with a very good guarantee. However, Trusted ID is slightly more expensive, and we found the LifeLock services a bit easier to use. Still, Trusted ID earns high marks.

 

 

 

With Debix, you can be sure that no one can impersonate you. They use a combination of technology and personal verification to prevent unauthorized tampering of your data.

The Debix system works like this: If a data thief steals your personal information and applies for credit, the lender immediately calls your Debix phone number. The Debix Identity Theft Warning System relays the call to your personal phone number for approval. When answering the call, a combination of your personal PIN number and Voice Key ensures your identity. Then, using the keys on your phone, you can easily approve or reject the credit application. If the account was applied for without your consent, it will not be opened.

In addition, Debix provides the following services:

•  Renews fraud alerts at all three national credit bureaus

•  Removes your name from pre-approved credit offers

Debix's website is loaded with information. One unique feature we liked was the live demonstration of the Debix warning system. You just enter in your phone number and you'll receive a call from a customer service agent, walking you through the steps they take to stop an identity thief. They also have a comparison chart of services offered by Debix relative to their leading competitors.

Debix provides a half-dozen testimonials from bankers, business school professors and law enforcement officers, all of which speak highly of Debix's technology for identity theft protection. In addition, Debix provides up to $10,000 in identity theft insurance and identity recover services, should you ever need it. You also have access to an identity theft recovery specialist if your identity is stolen.

Debix gives you complete and verifiable control over establishing new credit lines in your name. If you feel you need a higher level of protection with a larger insurance guarantee, you should try one of our higher rated products; however, for the lower price, Debix delivers a quality service that you may want to try.

 

 

 

Identity Guard allows you to choose between four levels of security protection. These are as follows:

•  Level 1 - Good Start.  This service costs $4.99/ month and provides daily monitoring of your credit bureau file. If any changes are detected, you receive an instant email notification.

•  Level 2 - Watchful Eye.  This service costs $9.99 / month and includes daily surveillance of the internet's "financial black market" and "back alley" newsgroups.

•  Level 3 - Extra Caution.  At $14.99 / month, this service adds daily surveillance of all three credit bureaus and 3-in-1 credit reports.

•  Level 4 - Total Protection.  Costing $19.99 / month, this includes daily scanning for unlawful use of your social security number and other sensitive data.

All levels of Identity Guard offer email alerts of any suspicious activity and unlimited toll-free customer service.

Signing up is simple, and your first month of protection is free. This is a trial period for you and you may cancel at anytime. Identity Guard also offers a free $50 visa gift card for every five friends or family members that sign up for their services as well.

Identity Guard backs up their Levels 3 and 4 protection plans with a $20,000 identity theft insurance with Identity Guard. However, certain restrictions do apply and you are liable for the first $250 of expenses.

We were impressed with the amount of information about identity theft that is available on the Identity Guard website. They describe a number of different ways that thieves can steal a person's identity, and reviews a list of actions you can take to protect your personal information. There is also an interesting quiz you can take to see your level of risk for having your identity stolen.

While we appreciate all of the information and advice available on the website, you can find the same or better level of security with one of our top-rated services, for less money.

 

 

 

This website is not easy to navigate through. There are too many different links. It took us a while to find a link to simply explain how Privacy Matters 123 protects a person's identity. By the looks of the website, signing up for protection appears to be more about getting a free credit report than actually protecting your identity.

They do not provide any information on their refund policy or service level guarantee.

As a member of Privacy Matters 123, you receive the following benefits:

•  Automatic monitoring of your credit at all three credit bureaus

•  Unlimited access to your credit report and score

•  Unlimited access to customer service

You can try the Privacy Matters 123's services free for seven days. If you decide to cancel you still receive your online credit report. If you do not cancel, your credit card will be billed $19.99 per month

This is where the service provided by Privacy Matters 123 ends. They do not provide the fraud alerts, credit line verification, or identity theft insurance provided with the other plans in our review. Ironically, they do offer the highest cost however.

Privacy Matters 123 offers the bare minimum in protection and costs the most per month. The website is organized poorly and they provide no guarantee or identity theft insurance. For real identity theft protection, we suggest you look to one of our higher-rated selections.