Is an ID Theft Monitoring Service Right for Me?
With so many people concerned about keeping their identity safe these days, it’s no wonder why identity theft monitoring services have become so popular. These services usually cost between $10 and $20 a month and work by monitoring your credit reports, cell phone applications, loan applications, and other public information. With some services, you also get some insurance protection, should your identity ever be stolen. One thing to keep in mind though, identity theft monitoring services generally cannot help prevent identity theft. Instead they’re meant to help warn you of any possible identity theft occurrences before a criminal can cause any significant damage. Is that better than nothing? Of course and it’s always good to be proactive in keeping your identity safe, but the early warning may not warrant the price most services charge. Ultimately, whether or not identity theft monitoring is best for you comes down to your own decision. If you’re having trouble making a decision, check out some of these identity theft monitoring alternatives that are typically available at the same price or less.
ID Theft Monitoring Alternatives
- Always monitor your credit reports - Your credit reports generally contain all of the information you need to find out if you’ve had your identity stolen. Report any incorrect data immediately.
- Place fraud alerts on your credit reports - You can place fraud alerts on your credit report, usually free of charge, that force any possible creditors to take further steps in verifying your identity.
- Avoid using your debit card - Whether it’s people looking over your shoulder to steal your PIN or installing data stealing card swiping devices, your debit card is at risk whenever you use it.
- Place credit freezes on your credit reports - Somewhat similar to fraud alerts, credit freezes actually prevent everyone from viewing your reports except you and your current creditors. Depending on your state’s laws, it may cost a small fee to place credit freezes on your reports.
Additional Resources
Easiest and Cheapest Way to Monitor Your Identity
What are Banks Doing to Prevent ID Theft
Identity Theft Protection Services
Is Identity Theft Protection Worth It?
Your Wireless Network Could Be Putting Your Identity at Risk
Will Identity Theft Insurance Help Pay For The Credit Repair Of An Identity Theft Victim?
The Growing Problem of Merchant Database Theft
I Fell for a Phishing Scam, What Do I Do Now?
