TrustedID Review

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Company Profile

Headquartered in Redwood City, California, TrustedID was founded in 2005 by Scott Mitic, formerly a vice president at Fair Issac, creators of the FICO lending score and Omar Ahmad, former CIO for Napster. Scott Mitic has stated publically his reasons for starting TrustedID was he got tired of watching credit bureaus place greater importance on selling consumer’s data than protecting it. TrustedID is designed to offer proactive identity theft protection and claims to be “the only complete solution for protecting your identity.”

How Do They Protect You?

• Fraud Alerts

TrustedID will place and renew fraud alerts on your credit file with Experian, Equifax, and Transunion. This requires the credit bureaus to verify your identity before issuing credit, usually by calling your phone number on file.

• Removal from Marketing Lists

TrustedID will remove your name from marketing lists advertisers use to send you pre-approved credit offers and junk mail. This is one of the many ways thieves steal identities.

• Annual Credit Reports

TrustedID will order credit reports from the three major credit reporting agencies and have them delivered to you for review.

• Scans Internet for you Data

TrustedID regularly scans the internet for your private information including social security number, credit cards, driver’s license, and other sensitive data to protect it from being sold or traded online.

• Medical Benefit Review

TrustedID will review your medical benefit statements to ensure nobody else is receiving your medical benefits.

• Spyware Protection

Provides you with advanced anti-spyware software to protect you from identity thieves when you go online.

• 24/7 Customer Support

If you have any questions or need immediate assistance, TrustedID has protection specialists to help you 24 hours a day, 7 days a week.

• CreditLock™

Fraud alerts are helpful but Credit Freezes on your credit file is a far stronger measure to protect your credit report against identity thieves.

• $1,000,000 Service Warranty

In the unlikely event an identity theft occurs under their protection, you can rest easy to know TrustedID will support you with their service warranty which includes a best-in-class lost wage limit.

What Do They Do Better Than Anybody?

There are three areas in which TrustedID stands out. The ability to place and remove Credit Freezes which prevents any unauthorized access to your credit file, its best in class $1,000,000 Service Warranty and the large discounts it offers in its family plan.

Credit Locks

No other company offers credit freezes on all the three major credit reporting agencies. Equifax’s IDPatrol comes close but only allows you to place a credit freeze on the Equifax report and not Experian or TransUnion. See our section on Fraud Alerts & Credit Freezes to understand the benefits of a Credit Freeze over a Fraud Alert.

1,000,000 Service Warranty

You can’t really appreciate the $1,000,000 Service Warranty unless you read the fine print. Not only does it offer the same amount of protection as Lifelock’s 1 Million Total Service Guarantee, but includes coverage for lost wages, a key point Lifelock does not cover. In fact, TrustedID offers more than twice the coverage as its nearest competitor in an area where the majority of identity theft victims say they incur loss.

According to the Identity Theft Resource Center, the average identity theft victim spends about $1,000.00 in fees to restore their identity. Rarely would any victim come close to needing $1,000,000. Although most of the work involved is tedious and time consuming, it usually does not require attorneys or investigators to get involved. What most identity theft victims need is compensation for lost wages and that is why TrustedID’s $1,000,000 Service Warranty stands out. See our section on Identity Theft Insurance to better understand what these policies cover and what to look for.

Family Protection

No other protection service offers a family plan. Equifax’s Credit Watch Gold does but is limited to two adults. TrustedID’s IDFreeze can be purchase to cover an entire household. That means children, spouse, and grandparents can be covered all under one policy. Starting at $15.83 a month, you can see where the savings add up compared to buying individual plans for every member of your household.

What Kind Of Customer Prefers This Service?

A consumer looking for protection on an entire family or the individual looking to place credit freezes on their credit file and a comprehensive service warranty that includes lost wages.

Why Should You Consider Anybody Else?

If you’re looking for a credit monitoring service where you can access your credit report anytime instead of the once a year reports that TrustedID offers, you may want to consider Equifax or IdentityGuard. Equifax offers unlimited access to the Equifax report and IdentiyGuard gives you quarterly updates to your FICO score and emails you any changes to your credit file. IdentityGuard also offers a host of services for the mobile tech savvy consumer.

Give It To Me Straight

TrustedID’s IDFreeze product coupled with CreditLock is our editor’s choice for overall identity theft protection. They are the only ones to offer the ability to place credit freezes on all three credit reporting bureaus and with family discounts and “best in class” service warranty, it’s easy to see why this is our top choice.

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