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Best ID Theft Protection and Rebuilding Credit (Equifax)

New Member

Best ID Theft Protection and Rebuilding Credit (Equifax)

Hello all,

 

So I'm well aware of the standard advice on freezing your credit at each of the three bureaus.  But in terms of ID Theft protection and credit monitoring, what is the best deal?  Tom's Guide seems to suggest LIfeLock is the best.  The $29.95 gives you monthly reports as well as monthly scores.  If I wanted to use them for protection (and rebuild my credit) why wouldn't I choose them over myFico?  Or would you still recommend a myFICO 3B report for rebuilding credit?

Message 1 of 9
8 REPLIES
Frequent Contributor

Re: Best ID Theft Protection and Rebuilding Credit (Equifax)


Kodiak91 wrote:

Hello all,

 

So I'm well aware of the standard advice on freezing your credit at each of the three bureaus.  But in terms of ID Theft protection and credit monitoring, what is the best deal?  Tom's Guide seems to suggest LIfeLock is the best.  The $29.95 gives you monthly reports as well as monthly scores.  If I wanted to use them for protection (and rebuild my credit) why wouldn't I choose them over myFico?  Or would you still recommend a myFICO 3B report for rebuilding credit?


If you live inside the USA under the law your entitled to one free credit report yearly from all 3 just google "freeannualcreditreport" and do that every year also for protection check out ID Watchdog they have been around for years great customer service and will alert you should be $20 or less don't remember if they provide credit scores. Smiley Happy As for scores credit.com , CreditKarma lots of good sites out there completely free as for myFICO 3B I've had the service it's good too hope this helps.

Total CL $100,155 w/PayPal Credit In the garden until 2020. Smiley Happy
Message 2 of 9
Established Contributor

Re: Best ID Theft Protection and Rebuilding Credit (Equifax)


Kodiak91 wrote:

Hello all,

 

So I'm well aware of the standard advice on freezing your credit at each of the three bureaus.  But in terms of ID Theft protection and credit monitoring, what is the best deal?  Tom's Guide seems to suggest LIfeLock is the best.  The $29.95 gives you monthly reports as well as monthly scores.  If I wanted to use them for protection (and rebuild my credit) why wouldn't I choose them over myFico?  Or would you still recommend a myFICO 3B report for rebuilding credit?


IMHO, myFico 3B is the best deal all around for what you get for the same amount of money: monthly reports and Fico scores of several models including mortgage, auto, bank, etc. from all three credit reporting agencies plus monitoring.  I don't know of any monitoring service that provide all that for any amount of money.  

 

As far as a different monitoring service, I am trying out ID Experts.  Just started using them, so I can't say how good/bad they are, but it's only 9.99/m.  I don't know how long I'll keep them, but with the EQ data breach, I wanted another monitoring service to compare with myFico incase something did happen. A bit of an over kill I admit, but the EQ data breach really makes me twitchy. LOL!

gardening: 6/2018 updated: 01/06/2018 rebuild: 2/2016 EQ 648 TU 642 EX 663
Start Mort: EQ 817 TU 783 EX 811 Fico 8: EQ 850 TU 791 EX 850
Curr Mort.: EQ 817 TU 800 EX 811 Fico 8: EQ 850 TU 843 EX 850
Goal Mort.: EQ 817 TU 800 EX 811 Fico 8: EQ 850 TU 850 EX 850
Take the myFICO Fitness Challenge
Message 3 of 9
Regular Contributor

Re: Best ID Theft Protection and Rebuilding Credit (Equifax)

The standard advice is:

 

1. Place a freeze and fraud alert on your three bureau files. 

2. Request your annualcreditreport.com (it's free 1x/year) from each bureau, spacing them so that you get one each 4 months. 

3. Monitor your statements carefully. If you only get paper statements this will be difficult. It's best to reconcile your online statements at least weekly with whatever budget mechanism you use (program/app/spreadsheet/napkin and crayon/whatever works).

 

This way you spend nothing ($0) out of pocket and receive the same protections, and you don't go overboard. This is the advice you hear from Consumer Reports, newspapers, etc.

 

Personally?

 

I like to request my annual credit reports from all 3b at the same time. I don't have the patience to space things out and in the course of life going on, I'll miss requesting a report. I just know that about myself.

 

I am going through bk and right now, I feel it is advantageous to have monthly scores and reports to get me through at least the first little while so I can see my progress in rebuilding. 

 

I use creditreport.com which is through Experian and offers monthly reports and FICO scores with the various models. (Instant EX scores/reports, monthly updates on EQ and TU) I don't even need auto or mortgage scores but iirc it offers them. It has a simulator, for whatever little it's worth. It's $20/mo. Again, I've worked it into my budget with the knowledge it is temporary. (I did attempt to sign up for Discover's free creditscorecard multiple times on multiple devices and browsers and receive a generic error every time, and have no means of support for non-members... so I have no means of accessing their service :shrug: ) A lot of people do the creditchecktotal.com $1 trials and immediately cancel but again, I do not have the time or patience for this at least right now. I have enough to juggle

 

I don't particularly think credit monitoring is actually the thing to do if you are concerned about ID theft. You have free tools available to you: freeze your reports and place fraud alerts. Sign up for creditkarma and get your EQ and TU reports for free that way (ignore the scores which are Vantage not FICO). Do the $1 cct thing once a month, or quarterly, which isn't technically free but pretty dang close. I'm sure other people have other ideas and if you read around here long enough, you'll start to get a fuller picture.

 

Best of luck. 

Ch7 discharged 10/2017. Pre-file FICOs high 400s.
01/2018 EX 636; EQ 655; TU 629
Message 4 of 9
Established Contributor

Re: Best ID Theft Protection and Rebuilding Credit (Equifax)


capabk wrote:

The standard advice is:

 

1. Place a freeze and fraud alert on your three bureau files. 

2. Request your annualcreditreport.com (it's free 1x/year) from each bureau, spacing them so that you get one each 4 months. 

3. Monitor your statements carefully. If you only get paper statements this will be difficult. It's best to reconcile your online statements at least weekly with whatever budget mechanism you use (program/app/spreadsheet/napkin and crayon/whatever works).

 

This way you spend nothing ($0) out of pocket and receive the same protections, and you don't go overboard. This is the advice you hear from Consumer Reports, newspapers, etc.

 

Personally?

 

I like to request my annual credit reports from all 3b at the same time. I don't have the patience to space things out and in the course of life going on, I'll miss requesting a report. I just know that about myself.

 

I am going through bk and right now, I feel it is advantageous to have monthly scores and reports to get me through at least the first little while so I can see my progress in rebuilding. 

 

I use creditreport.com which is through Experian and offers monthly reports and FICO scores with the various models. (Instant EX scores/reports, monthly updates on EQ and TU) I don't even need auto or mortgage scores but iirc it offers them. It has a simulator, for whatever little it's worth. It's $20/mo. Again, I've worked it into my budget with the knowledge it is temporary. (I did attempt to sign up for Discover's free creditscorecard multiple times on multiple devices and browsers and receive a generic error every time, and have no means of support for non-members... so I have no means of accessing their service :shrug: ) A lot of people do the creditchecktotal.com $1 trials and immediately cancel but again, I do not have the time or patience for this at least right now. I have enough to juggle

 

I don't particularly think credit monitoring is actually the thing to do if you are concerned about ID theft. You have free tools available to you: freeze your reports and place fraud alerts. Sign up for creditkarma and get your EQ and TU reports for free that way (ignore the scores which are Vantage not FICO). Do the $1 cct thing once a month, or quarterly, which isn't technically free but pretty dang close. I'm sure other people have other ideas and if you read around here long enough, you'll start to get a fuller picture.

 

Best of luck. 


Not to be argumentative here...but IMHO, monitoring has it's advantage.  The only thing about the standard advice is I'm not sure it covers everything.  

 

What if someone gets a driver license with a different name but use your ssn?  

 

What about obtaining medical service under your ssn/name, or applying for a passport, etc.?  Will montoring my banking and credit card statements or even getting updated credit reports catch this type of identify theft?  A freeze keeps someone from opening new accounts, but how does it help if someone just wants your identity (not your credit)?

 

If someone obtain medical service under your id info, you wouldn't know until it goes in collection and shows up on your credit report - and that could be a couple of years, depending on the collection effforts and reporting rules for that medical facility.   You will certainly know if someone added a different name to your credit report - but depending on when you pull your credit reports, it could be up to a year before you would know anything of the sort happened and who knows what kind of damaged would have been done by then.

 

gardening: 6/2018 updated: 01/06/2018 rebuild: 2/2016 EQ 648 TU 642 EX 663
Start Mort: EQ 817 TU 783 EX 811 Fico 8: EQ 850 TU 791 EX 850
Curr Mort.: EQ 817 TU 800 EX 811 Fico 8: EQ 850 TU 843 EX 850
Goal Mort.: EQ 817 TU 800 EX 811 Fico 8: EQ 850 TU 850 EX 850
Take the myFICO Fitness Challenge
Message 5 of 9
Frequent Contributor

Re: Best ID Theft Protection and Rebuilding Credit (Equifax)


LOTR wrote:

capabk wrote:

The standard advice is:

 

1. Place a freeze and fraud alert on your three bureau files. 

2. Request your annualcreditreport.com (it's free 1x/year) from each bureau, spacing them so that you get one each 4 months. 

3. Monitor your statements carefully. If you only get paper statements this will be difficult. It's best to reconcile your online statements at least weekly with whatever budget mechanism you use (program/app/spreadsheet/napkin and crayon/whatever works).

 

This way you spend nothing ($0) out of pocket and receive the same protections, and you don't go overboard. This is the advice you hear from Consumer Reports, newspapers, etc.

 

Personally?

 

I like to request my annual credit reports from all 3b at the same time. I don't have the patience to space things out and in the course of life going on, I'll miss requesting a report. I just know that about myself.

 

I am going through bk and right now, I feel it is advantageous to have monthly scores and reports to get me through at least the first little while so I can see my progress in rebuilding. 

 

I use creditreport.com which is through Experian and offers monthly reports and FICO scores with the various models. (Instant EX scores/reports, monthly updates on EQ and TU) I don't even need auto or mortgage scores but iirc it offers them. It has a simulator, for whatever little it's worth. It's $20/mo. Again, I've worked it into my budget with the knowledge it is temporary. (I did attempt to sign up for Discover's free creditscorecard multiple times on multiple devices and browsers and receive a generic error every time, and have no means of support for non-members... so I have no means of accessing their service :shrug: ) A lot of people do the creditchecktotal.com $1 trials and immediately cancel but again, I do not have the time or patience for this at least right now. I have enough to juggle

 

I don't particularly think credit monitoring is actually the thing to do if you are concerned about ID theft. You have free tools available to you: freeze your reports and place fraud alerts. Sign up for creditkarma and get your EQ and TU reports for free that way (ignore the scores which are Vantage not FICO). Do the $1 cct thing once a month, or quarterly, which isn't technically free but pretty dang close. I'm sure other people have other ideas and if you read around here long enough, you'll start to get a fuller picture.

 

Best of luck. 


Not to be argumentative here...but IMHO, monitoring has it's advantage.  The only thing about the standard advice is I'm not sure it covers everything.  

 

What if someone gets a driver license with a different name but use your ssn?  

 

What about obtaining medical service under your ssn/name, or applying for a passport, etc.?  Will montoring my banking and credit card statements or even getting updated credit reports catch this type of identify theft?  A freeze keeps someone from opening new accounts, but how does it help if someone just wants your identity (not your credit)?

 

If someone obtain medical service under your id info, you wouldn't know until it goes in collection and shows up on your credit report - and that could be a couple of years, depending on the collection effforts and reporting rules for that medical facility.   You will certainly know if someone added a different name to your credit report - but depending on when you pull your credit reports, it could be up to a year before you would know anything of the sort happened and who knows what kind of damaged would have been done by then.

 


Isn't a credit freeze a pain though? say I want to CLI will I have to unlock each file?

Total CL $100,155 w/PayPal Credit In the garden until 2020. Smiley Happy
Message 6 of 9
Established Contributor

Re: Best ID Theft Protection and Rebuilding Credit (Equifax)


CapCredit72 wrote:

LOTR wrote:

capabk wrote:

The standard advice is:

 

1. Place a freeze and fraud alert on your three bureau files. 

2. Request your annualcreditreport.com (it's free 1x/year) from each bureau, spacing them so that you get one each 4 months. 

3. Monitor your statements carefully. If you only get paper statements this will be difficult. It's best to reconcile your online statements at least weekly with whatever budget mechanism you use (program/app/spreadsheet/napkin and crayon/whatever works).

 

This way you spend nothing ($0) out of pocket and receive the same protections, and you don't go overboard. This is the advice you hear from Consumer Reports, newspapers, etc.

 

Personally?

 

I like to request my annual credit reports from all 3b at the same time. I don't have the patience to space things out and in the course of life going on, I'll miss requesting a report. I just know that about myself.

 

I am going through bk and right now, I feel it is advantageous to have monthly scores and reports to get me through at least the first little while so I can see my progress in rebuilding. 

 

I use creditreport.com which is through Experian and offers monthly reports and FICO scores with the various models. (Instant EX scores/reports, monthly updates on EQ and TU) I don't even need auto or mortgage scores but iirc it offers them. It has a simulator, for whatever little it's worth. It's $20/mo. Again, I've worked it into my budget with the knowledge it is temporary. (I did attempt to sign up for Discover's free creditscorecard multiple times on multiple devices and browsers and receive a generic error every time, and have no means of support for non-members... so I have no means of accessing their service :shrug: ) A lot of people do the creditchecktotal.com $1 trials and immediately cancel but again, I do not have the time or patience for this at least right now. I have enough to juggle

 

I don't particularly think credit monitoring is actually the thing to do if you are concerned about ID theft. You have free tools available to you: freeze your reports and place fraud alerts. Sign up for creditkarma and get your EQ and TU reports for free that way (ignore the scores which are Vantage not FICO). Do the $1 cct thing once a month, or quarterly, which isn't technically free but pretty dang close. I'm sure other people have other ideas and if you read around here long enough, you'll start to get a fuller picture.

 

Best of luck. 


Not to be argumentative here...but IMHO, monitoring has it's advantage.  The only thing about the standard advice is I'm not sure it covers everything.  

 

What if someone gets a driver license with a different name but use your ssn?  

 

What about obtaining medical service under your ssn/name, or applying for a passport, etc.?  Will montoring my banking and credit card statements or even getting updated credit reports catch this type of identify theft?  A freeze keeps someone from opening new accounts, but how does it help if someone just wants your identity (not your credit)?

 

If someone obtain medical service under your id info, you wouldn't know until it goes in collection and shows up on your credit report - and that could be a couple of years, depending on the collection effforts and reporting rules for that medical facility.   You will certainly know if someone added a different name to your credit report - but depending on when you pull your credit reports, it could be up to a year before you would know anything of the sort happened and who knows what kind of damaged would have been done by then.

 


Isn't a credit freeze a pain though? say I want to CLI will I have to unlock each file?


Yes, it can be a bit of a pain.  

 

You don't have to temporarily unfreeze your CRs if you're seeking a SP CLI.  A HP CLI is a different story.  You will need to unfreeze before requesting the HP CLI. If you know which CB the account pulls from, you can just unfreeze that CR and leave the others frozen.  Then there is the cost associated with freezing/unfreezing.  It can cost anywhere from $0 to $10.  In my state, it's $3 per CB.  

 

I've also noticed that my reports can be frozen with EQ and TU and I can still get my 3B reports, but with EX I have to unfreeze the report.   Last I check with myFico, they said this was due to my having a fraud alert on EX.  I just had to answer a few security questions first.  

 

 

Having said that, it's really easy to temporarily unfreeze your CRs.

gardening: 6/2018 updated: 01/06/2018 rebuild: 2/2016 EQ 648 TU 642 EX 663
Start Mort: EQ 817 TU 783 EX 811 Fico 8: EQ 850 TU 791 EX 850
Curr Mort.: EQ 817 TU 800 EX 811 Fico 8: EQ 850 TU 843 EX 850
Goal Mort.: EQ 817 TU 800 EX 811 Fico 8: EQ 850 TU 850 EX 850
Take the myFICO Fitness Challenge
Message 7 of 9
New Member

Re: Best ID Theft Protection and Rebuilding Credit (Equifax)

I wanted to clarify, since apparently I wasn't clear enough.

I'm not interested in the standard "freeze your 3 Credit Bureaus" response. I didnt come here to ask the community what I can read about on a million sites. I'm specifically asking about ID theft protection/insurance.

Toms Guide seems to think Lifelock is the best deal for ID theft protection/insurance. If not that then what else?

Thanks
Message 8 of 9
Highlighted
Frequent Contributor

Re: Best ID Theft Protection and Rebuilding Credit (Equifax)

Tried MyIDCare for just a few days wasn't happy the free services are catching activity I've done compared to their service.

Total CL $100,155 w/PayPal Credit In the garden until 2020. Smiley Happy
Message 9 of 9