TrustedID – The Company
TrustedID burst on to the scene in 2005 and has been a leader in providing identity theft protection to consumers ever since. Originally funded by two leading venture capital firms: Draper Fisher Jurvetson and Opus Capital Ventures, TrustedID is one of only two identity theft protection companies recognized by The Identity Theft Resource Center, a nationally respected non-profit organization dedicated exclusively to the understanding and prevention of identity theft. In July of 2013 TrustedID was purchased by Equifax.
Please Note: As of June 27th Equifax, the parent company of TrustedID, has made the decision to focus on the credit bureau business, and “remove any customer acquisition strategy” for the TrustedID brand. To the best of our knowledge they will continue to serve existing customers but due to this decision we can no longer recommend their service. Please click here to see our recommended companies.
The service has been highlighted in the Wall Street Journal, the New York Times, Newsweek and Time magazine and CNNMoney.com. TrustedID wass also endorsed by financial expert Suze Orman and Javelin Strategy and Research rated TrustedID best in class. That’s two powerful testimonials and our opinion doesn’t differ… they are definitely a premier identity theft protection company.
TrustedID’s flagship service IDEssentials™ includes instant access to your 3-Bureau credit report, score and daily monitoring of your credit activities as well as everything listed below.
With its IDEssentials product, TrustedID helps protect consumers from identity theft. In total it provides over a dozen services and in the unlikely event identity theft occurs, or unbeknownst to you has already occurred, their certified identity protection specialists are available 24/7. It is a comprehensive and proactive identity protection plan that helps prevent thieves from damaging your credit and good name. Details are as follows.
Identity Threat Score and Monitoring Service
New to Trusted ID is an identity threat score that assesses an individual’s risk of identity theft by constantly monitoring millions of records on thousands of public and private databases where your personal and financial information is stored. Their system uses advanced technology to analyze this information for patterns that could indicate you have been or are about to become a victim of identity theft.
Based on your score, which is calculated on a scale of 0 to 1000 with 0 being safe and 1000 indicating your identity is at extreme risk. Every time they detect activity that may affect your risk, they will alert you with the details and provide you a new Identity Threat Score. Plus, they will automatically recalculate your score every month to reflect any new activity.
TrustedID has dramatically expanded the amount of information monitored to detect changes in your identity and the new and recently improved Identity Threat Score offers increased accuracy. You will be able to view score details, including, in many cases, the specific events affecting your score such as new cellular account opened, payday loan initiated or checks ordered from your bank – information that does not get reported to the credit bureaus.
If you have a medium to high score, a sudden negative change, or see anything unusual or suspicious you should contact TrustedID’s On-Call Protection Specialists who will provide assistance in ensuring that necessary steps are taken to lower your risk and proactively protect your identity. In fact, that’s why they are there…. to answer any questions about your score and to assist in the event that your score and monitoring reveal any unusual activity. When you have access to specialists you would be well advised to use them.
Stay ahead of identity thieves
You will receive an email if TrustedID notices any unusual activity on your file as soon as it occurs to help thwart any attempts to compromise your information, or if it finds your information online in a place where it shouldn’t be. They do this by routinely scanning the black market internet, where your personal information is bought and sold by thieves, for things like you Social Security number, credit card and bank account numbers, and your name and address.
Other Key Benefits
TrustedID will order your credit reports for all three major bureaus so you can review them for accuracy and any unusual or suspicious activity.
*Stop unsolicited credit checks
As it stands, credit card companies have permission to check your credit report to send you preapproved credit offers. As part of standard service, TrustedID will remove your name and information from solicitors’ lists so that you will no longer receive these offers and third parties will not have access to your private credit information. The service will also reduce other types of junk mail.
*Medical Benefit Check
Also included is a review of your medical benefit statements to ensure that you and your family are the only ones being treated with your medical benefits.
TrustedID includes Anti-Spyware, Anti-Phishing and Key-logging protection software that works with other internet security software to help protect your computer and thus you from unscrupulous attacks.
*Facebook Privacy Manager
Helps protect your Facebook account by ensuring your privacy settings are not providing information that may put you at further risk for identity theft.
Feel secure with $1,000,000 Service Warranty
TrustedID offers a service warranty backed by AIG and Lloyd’s of London for up to a million dollars to cover out of pocket expenses if identity theft does occur while you’re using the service. This money can be used to cover expenses you incur in recovering your good name, such as application fees for new credit, legal fees, and any missed work due to problems with your employment qualifications or need to restore your identity. Lost wages are paid to a maximum of 4 weeks or $5,000.
TrustedID does not outsource their restoration services so you will also gain access to professional company-provided services to help you restore your identity as quickly and efficiently as possible. This is far more important then most people realize and certainly appreciated by anyone who falls victim. As with any insurance or warranty you should check the full details on the company site.
Credit Monitoring, Reports and Scores Done Right!
IDEssentials, TrustedID’s award winning identity protection service includes all of the the features above but also adds credit monitoring, reports and scores from all 3 bureaus.
TrustedID monitors your credit daily at all 3 bureaus (Equifax, Experian and TransUnion) providing you with notification of any pertinent changes. They also give you a credit report from each bureau so that you can ensure it is accurate and there are no signs of identity theft. For those interested in monitoring their credit score in addition to identity theft protection you will be happy to know that your score from each bureau is also provided.
The price is $170 per year or $300 per year for family protection. Monthly pricing is also available but you do save a bit with a yearly subscription.
The family plan includes protection for all adults and children living under the same roof with the exception of credit monitoring services, scores and reports which are available for only two adults.
Thwart unauthorized credit accounts
With TrustedID’s Fraud Alert Reminder service, they help you ensure your fraud alerts are renewed with the credit bureaus every 90 days. A fraud alert can be placed by anyone who has a legitimate belief that they have or will become a victim of identity theft. A fraud alert makes it very difficult for thieves to open credit accounts in your name without your permission.
Simply put, a fraud alert placed on your credit file legally requires all creditors to verify your identity (often done by calling the phone number in your file) before approving any credit request whether it be a loan, credit card, or utility subscription. This can allow you to stop unauthorized account activity before it happens. The only downside is that it can be a bit of a hassle for those who require credit with any frequency, but it is optional and highly recommended by us for anyone who believes they are an identity theft victim or under attack.
Put your credit under lock and key
TrustedID is also the only company that allows you the ability to “freeze” your credit at your discretion for an additional fee. You could do this yourself but having one centralized place to handle freezing and unfreezing your accounts at all 3 bureaus does streamline the process. Pricing for CreditLock varies by state.