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Old 12-12-2012, 12:20 AM   #1
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ID protection

I have been thinking of buying ID protection recently. LifeLock or Protect my ID companies come to mind.

Does anyone here use these services ? Are they worth the expense ? Thank you in advance for any feedback.
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Old 12-12-2012, 06:33 AM   #2
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They don't do much that you can't do for your self. Lock your credit report and check it regularly.
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Old 12-12-2012, 06:45 AM   #3
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I agree with Michael, at least for a first step. Freeze your credit with all three agencies so nobody can open an account in your name. You may still have your CC number abused but all that happens means is you get a new one. Make sure you have a least two and it is no big deal.

Do these protective services actually do anything that would protect you from a sophisticated attack going after your brokerage and savings accounts? That strikes me as more important that the irritation of having to deal with CC abuse.
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Old 12-12-2012, 06:47 AM   #4
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On my way to work, typing from iPhone sorry for any typo. Michael : these services have $1,000,000 guarantee - this is something I can't do myself... The cost is about $100 a year.
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They don't do much that you can't do for your self. Lock your credit report and check it regularly.
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Old 12-12-2012, 06:56 AM   #5
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Originally Posted by obgyn65 View Post
On my way to work, typing from iPhone...
Texting while driving?
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Old 12-12-2012, 07:05 AM   #6
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In addition to the practices above, I also have my CC provider send me an email notification on any charge made over $40.

Regular checks on Mint.com also would alert me to any strange charges.
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Old 12-12-2012, 08:19 AM   #7
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On my way to work, typing from iPhone sorry for any typo. Michael : these services have $1,000,000 guarantee - this is something I can't do myself... The cost is about $100 a year.
I wonder how many people have actually collected on the guarantee. My suspicion is that there are so many exclusions and restrictions that it is essentially worthless. So if you do chase this wild goose, read the fine print. I have no firsthand experience though.
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Old 12-12-2012, 08:22 AM   #8
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Wasn't this the company where the president put his SS number on an ad truck and drove it around NYC? He was so sure he wouldn't get hacked. But....yup! He did!
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Old 12-12-2012, 08:29 AM   #9
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From Consumer Reports:

Quote:
ID theft protection products like credit monitoring are of dubious value because your fraud liability is already limited. They also charge you for things that you can do yourself—free.
And their recommended actions to safeguard yourself:

1. Guard the cards

2. Freeze your credit reports

3. Protect your computer

4. Lock down your smart phone

5. Respond aggressively to any hint of trouble
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Old 12-12-2012, 09:50 AM   #10
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Thanks for the postings on this. I finally did the freeze on the three for DW and me this morning. Meant to do for years.
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Old 12-13-2012, 06:45 AM   #11
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Thank you everyone. I have set up a reminder on Chase to send me a message when my account has an expense hit of $40 or more.

How does one freeze his/her credit reports ?

Edit : I just found this : http://consumerist.com/2007/11/06/ho...credit-report/

I did not know about this, thank you for the advice.
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Old 12-13-2012, 11:22 AM   #12
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Quote:
Originally Posted by REWahoo View Post
From Consumer Reports:

And their recommended actions to safeguard yourself:

1. Guard the cards

2. Freeze your credit reports

3. Protect your computer

4. Lock down your smart phone

5. Respond aggressively to any hint of trouble
What specifically does "lock down your smart phone" entail?

Thanks,

omni
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Old 12-13-2012, 11:34 AM   #13
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Per Consumer reports, it means be sure your phone has some type of security application that guards against malware, encrypts your data, and requires password access. Even better is an application to either locate the device or erase everything on it if it's stolen.
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Old 12-13-2012, 12:24 PM   #14
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Just found out that my CC was hacked. I happened shortly after I purchased a Kindle on Amazon. Got my cards cancelled. Now I have concerns about my computer. Happy Holidays? Once I am more comfortable with the solution, I will look at going to the credit report sites.
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Old 12-13-2012, 01:22 PM   #15
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Just found out that my CC was hacked. I happened shortly after I purchased a Kindle on Amazon. Got my cards cancelled. Now I have concerns about my computer. Happy Holidays? Once I am more comfortable with the solution, I will look at going to the credit report sites.
That sucks, especially if you have autopays which now need to be updated. Not sure why there would be a problem with the computer, though. Do you use antivirus SW?
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Old 12-13-2012, 02:39 PM   #16
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We have Avast and I downloaded Malwarebytes and ran it today. No badware found. DW had an incident a couple of days ago where the computer was running very slow. Got me thinking in the direction of the computer. All autopays are coming out of the debit card so we are OK there as long as I continue not to use the debit card for online purchases.
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