Ask Terry Questions Identity Theft Protection

Identity Theft Protection

By Terry Savage on October 02, 2018 | Credit/Debt

My husband and I are looking into Experian CompleteID. We are uncertain whether to share so much personal information with this company (or any other company).
What are your thoughts on identity theft protection with Experian or other companies? In your opinion, are they trustworthy? Is it worth the risk (since they could also be vulnerable to hacking)?

Terry Says

I think that now that a credit freeze is easy to establish and easy to lift if necessary, and free, there is less need for Identity Theft protection. The freeze will keep people from opening new accounts in your name — the most common kind of ID theft. And if you check your credit card balances online on a regular basis, at least once a week, you will catch any unauthorized charges on existing cards (and they are protected against loss from fraud). This wider use of credit freezes is going to take a lot of money away from these protection services!



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