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IdentityIQ Review

Saturday, March 2nd

2024 Credit Monitoring Company Reviews

IdentityIQ Review 3.5 Star Rating

IdentityIQ

3.5 Star Rating
  • 4 plans to choose from
  • Prices range from $6.99-$29.99 per month
  • 15% discount when paying annually
  • "B" rated by the BBB

IdentityIQ specializes in identity protection, and credit monitoring is a critical component of that. Underwritten by AIG, one of the most well-known insurance companies worldwide, this service positions itself as a contender against some of today's most popular ID protection platforms - and so you might not see all of the finance-focused features that come with some of the credit monitoring services in our evaluation when looking at what IdentityIQ can do for you.

4 subscription plans

You have four options as a subscriber to IdentityIQ:

  • Secure ($6.99/month): this basic plan still comes with a long list of features. They include daily 1-bureau credit report monitoring, $1 million in stolen funds reimbursement, dark web and internet monitoring, SSN alerts, lost wallet assistance, and more.
  • Secure Plus ($9.99/month): you'll get the benefits of Secure, as well as annual 3-bureau credit reports and scores (we're not sure that's worth the extra $36 you'll spend per year, but up to you).
  • Secure Pro ($19.99/month): at this tier, your IdentityIQ membership will include biannual 3-bureau credit reports and scores, 3-bureau credit monitoring, alerts on crimes committed in your name, and credit score change alerts.
  • Secure Max ($29.99/month): IdentityIQ's most comprehensive credit monitoring package comes with all of the benefits mentioned in previous tiers, as well as $25K in identity theft insurance protection for the entire family, credit score simulator and tracker, and fraud restoration with LPOA.

Pay annually to save 15%

You can save money if you opt to pay for your credit monitoring on an annual basis. Just toggle the switch at the top of the pricing list to show the 15% discount that will apply.

Lots of features, but not clear on how to get them

IdentityIQ has a long list of add-ons you can subscribe to, if you'd like to go beyond credit monitoring and opt for total protection. But, it's tricky to determine how to sign up for them or if they're included in the package you've selected. These include Bitdefender Total Security and enhanced credit monitoring, among others. IdentityIQ would do well to include those in the "see all features" list if they're a part of what you're already paying for, or to make it obvious what you should do if you want to have it as an a la carte service.

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Mixed feedback from customers

But, unless you're really focused on having identity theft protection on top of your credit monitoring, we're not sure that you should prioritize this service over its higher-ranking rivals. The company's reputation is a little all over the place, starting with a just-average "B" rating from the Better Business Bureau and over 300 complaints filed there in the most recent three-year period. It seems that it's not uncommon for people to find themselves being charged by IdentityIQ even after they've canceled the service, and often after winding up subscribed through a third-party partner that they didn't approve of in the first place.

Some positive customer reviews

On the other hand, IdentityIQ has an impressive 4.3 out of 5-star average on Trustpilot with over 200 five-star reviews. Many subscribers praise the customer service they received (going so far as to name specific reps) and appreciate the prompt response when suspicious activity is detected.

Good enough but not great

Overall, we'd say that IdentityIQ is just above average. There are definitely customers who would recommend the service, and the pricing is comparable with most rival platforms we've evaluated. Is it the most comprehensive out there for credit monitoring? Not really. Still, it might be worth checking out if you don't find exactly what you're looking for with the higher-ranking companies in our review.

Who Offers the Best Credit Monitoring Service?

In today's interconnected digital world, maintaining a strong credit profile is essential. That's where credit monitoring services come into play - valuable tools to safeguard your financial well-being and keep you informed about your credit health. These services provide continuous oversight of your credit report and alert you to any significant changes.

Credit monitoring lets you to detect and respond swiftly to potential threats like identity theft, fraud, or errors on your credit reports. They do this by sending you alerts via email or text whenever there are significant changes in your credit report. They offer ongoing monitoring of your credit reports from major credit bureaus, allowing you to stay vigilant without manual effort. Moreover, many credit monitoring services provide educational resources and tips for improving your credit scores and managing debt.

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Credit Monitoring Company FAQ

Credit monitoring keeps an eye on financial transactions associated with your credit use: your buying behavior, changes in your credit score, and so on. When potential fraud is detected, a credit monitoring service notifies you quickly so that you can put a stop to any unauthorized use of your information or money.
Unless you have the time and energy to keep an eagle-eye watch over all of your accounts, credit monitoring is a must in this age of phishing scams, spam phone calls, and data breaches. Having a credit monitoring service in place can shut down fraudsters early on, before any serious damage is done to your credit history (or your bank balance!).
It's important to point out that credit monitoring doesn't prevent fraud. It can only give you tools to try and protect yourself, while letting you know right away if anything suspicious is detected. Credit monitoring won't stop your credit card from being skimmed, keep your data protected if there's a breach somewhere, or prevent an identity theft from applying for credit in your name.
Both types of score represent different models used to predict how likely it is that any given consumer will be at least 90 days behind on a bill sometime in the next two years. Because they give different weights to the various components in their calculations, the scores they return can be different for the same individual. For example, to get a FICO score, you need to have at least one credit account that's six months "old" or more, but a VantageScore only requires you to have one active account (even if it's not six months "old" ).
Many services are offered at no charge. Yes, you read that correctly: you can get a certain level of credit monitoring for absolutely no fees. However, if you're looking for the most comprehensive services, you can expect monthly fees ranging from $12 to $35.
It's definitely worth considering. Because most minors don't have extremely active credit accounts (car loans, credit cards, and so on), fraud can go undetected for a very long time. Without credit monitoring, your child could go to apply for a college loan or their first credit card and find out that someone has been using their name to open accounts for years!
Be sure to check out what other customers have said about the service. Also, look for a listing with the Better Business Bureau, to give yourself that added assurance that the credit monitoring service you're considering is reputable.
While your credit card company probably does alert you if fraud is detected, it's not designed to be comprehensive: they don't keep an eye on your bank account or any use of your Social Security number to open accounts. Your bank may provide your credit score when you sign into your account, but they don't flag most transactions. Unless you're going to play an active role in monitoring your credit, it's worth it to pay for a service to track it all for you. Plus, many credit monitoring services will help you restore your identity if it's compromised while you're a subscriber.
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Continued from above...

In the unfortunate event of identity theft, reputable credit monitoring services often offer assistance in resolving issues and restoring your credit, providing you with valuable support and guidance during a challenging time. It's important to note that credit monitoring primarily focuses on credit-related activities and may not detect all forms of identity theft or fraud, such as medical or criminal identity theft.

Additionally, you may receive alerts for legitimate actions, which could lead to unnecessary concern or alert fatigue. And, it's crucial to understand that credit monitoring services can't prevent or stop fraudulent activities; they can only provide information and alerts, underscoring the importance of your own proactive vigilance in protecting your financial well-being.

Now that you understand what credit monitoring can (and can't) do for you, how do you choose which option is right for you? There are a lot of similarities among providers of this service, and it can get frustrating trying to sort out the minute differences that could impact your decision.

Consider these factors that might illuminate those differences and make it clearer which one you should choose:

  • Cost. Evaluate the pricing structure, including monthly or annual fees, to determine if it offers a good value for what you'll be paying. Don't shy away from free credit monitoring options, either.
  • Features. Consider the range of features offered, such as credit report monitoring, credit score tracking, identity theft protection, and fraud resolution support. Check which credit bureaus' reports are monitored, as coverage can vary among different services (Experian, Equifax, TransUnion, or even FICO).
  • Reputation. Research the service provider's reputation, read user reviews, and assess their track record in delivering reliable alerts and assistance.
  • Alert system. Assess the speed and effectiveness of the alert system in notifying you about changes in your credit reports.
  • Customer support. Look for responsive customer support options, especially for resolving issues related to false alarms or identity theft incidents.
  • Educational resources. Some of the best credit monitoring services go the extra mile to help you understand credit reports, scores, and financial management.
  • Mobile app. If applicable, evaluate the user-friendliness and functionality of the mobile app for convenient access to credit information.

Credit monitoring services offer you valuable tools to protect your financial well-being and maintain a healthy credit profile, and Top Consumer Reviews has done the legwork to make it easy to compare today's most popular providers. We're confident that this information will empower you to take control of your financial life and stay on top of your credit profile.

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