Empower Your Personal Finances

Tue 27 December 2016

Trusted ID - Identity Theft Protection

Posted by seicalbanyny in Money   

The cost of Identitytheft is over 50 Million US Dollars each year and rising. Identity theft costs both the government and individuals huge amounts of money and opens new concerns about the crime and its occasional link to terrorism.
                

Many believe identity theft is isolated and not a threat at all, in fact most people believe that it just couldn’t happen to them. Until it does ...
                

Trusted ID is a new Identity theft and credit-monitoring company that claims to provide "the only complete solution for protecting your identity." Trusted ID provides a proactive prevention of identity theft. Basically what they do best is freeze your credit. What is Trusted Id?
                

Founded in 2005, Trusted Id offers products and services that will help you guard yourself and your family from any possible threat of identity theft. TrustedID is an Identity theft and credit-monitoring company that claims to provide "the only complete solution for protecting your identity." Trusted ID provides a proactive prevention of identity theft. Basically what they do best is freeze your credit of what is popularly known in the financial world as "ID Freeze". What does TrustedID do that other credit protections don't?ID Freeze
                

Trusted ID is really pushing its "ID Freeze" product. The major advantage with ID Freeze is a "Lender Double Check" that prevents the lender from offering new credit unless they verify the user's identity via phone or e-mail first. You can freeze your credit yourself and lenders should contact you prior to offering any new credit you just need to notify the major bureaus involve, but why bother doing this where you can hire a company like TrustedID to do the job for you plus they back it up with $1,000,000 guarantee.                
                

All in all, The ID Freeze intends to take proactive measures in blocking identity theft even before the crime happens. Aiming to help consumers stop identity theft, ID Freeze does not merely provide alerts to their clients.  They put the account on hold so that identity tampers will not have a bit of chance in accessing it.  And that is great service and protection.Credit Lock
                

TrustedID also offers to its clients the ability to lock credit or "Credit Lock", preventing new accounts from being opened in their name. This may only work in certain states, however, due to various legislations. So, if you’re considering using Trusted ID’s product, do so but make sure you do your due diligence when it comes to your state’s laws or ask the guidance of TrustedID themselves when enrolling.Why lock Your Credit?
                

Depending on the preventive measures of involved companies, credit reports and bank statements may be accessed by highly experienced hackers thereby gaining information on your financial accounts. With CreditLock, Trusted ID ensures that no third party can view or access such reports without your permission.
                

Many of the other services Trusted ID offers, like credit monitoring, identity theft insurance, and an "opt-out" program, are also offered for free or as part of services from major credit bureaus.Here's a summary of services that TrustedID offers for a minimal cost:
                    
Proactive Identity Protection
                    
ID Freeze
                    
Junk mail reduction
                    
Black market internet monitoring
                    
Enhanced lost wallet protection
                    
Free Annual Credit Reports
                    
$1,000,000.00 service guarantee
                    
Bank account scanning
                    
Credit card number scanning
                    
Anti-spyware protection
                    
Social Security Number scanning
                    
Name and address scanning
                    
Medical benefits protection
                    
24/7 On-call protection specialist 
                

Trusted ID does enable the user to cover all the different bureaus at once, which is a good point as the major bureaus sometimes have communication problems. However, whether Trusted ID this is worth the money is a choice for the consumer, if you have a bit of time on your hands you could easily do the same job yourself, but remember that a credit freeze last 90 days and then you have to renew it again. Again, why bother to do it yourself. Leave it to the pros so they say. Leave it to TrustedID. They are a company  you can surely trust.