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What is your thought on "credit monitoring service/protection"?

#1Real_AccountPosted 8/5/2014 8:08:08 PM
Would you recommend someone to sign up for a credit protection service (like Lifelock)?

http://www.creditprotectionpro.com/credit-protection-services/
#2PhilOnDezPosted 8/5/2014 8:40:11 PM
Personally it doesn't sound worthwhile to me. I don't know anyone who's lost a ton of money, or any money really, due to identity theft, though I do know several people who've been victims, myself included.

My parents had somebody spend about $450 on one of their credit cards. They caught it the next week when their bill came in and the credit card company reimbursed them no questions asked aside from "Are you sure it wasn't you?"

I had somebody pay for a month of WoW on my debit card randomly after I quit playing (I checked to make sure it wasn't an error on one of my accounts but neither of them, nor my brother's who I thought might have 'borrowed' my card, were active). I called blizz to see what was up, they said for sure it wasn't my account or my brother's that the charge was credited to and refunded me so I called my bank and that was the end of it.

As long as you stay on top of it yourself you're unlikely to run into issues. All I have currently is a checking/debit account so I check it once a week or so, doublechecking all the charges that I don't recognize,Taco Bell shows up as V7 Inc. for example. I'm sure checking it monthly would be sufficient though obviously the faster you catch it the faster it gets resolved.
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#3arleasPosted 8/5/2014 8:47:24 PM
I remember there was a publicity stunt a while back where some head honcho from those services posted his SSN to prove how he was invulnerable to identity theft, and he got owned hard.

http://www.wired.com/2010/05/lifelock-identity-theft/

Yep, that's the guy.

Also there's this bit of news:
The company was fined $12 million in March by the Federal Trade Commission for deceptive advertising.


Yeah I'd say it's like flushing money down the toilet.
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#4Damaged7Posted 8/5/2014 8:48:31 PM
Damn Phil, seems like its easy to go buy a new TV then claim it wasn't you.
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#5Garage_ManPosted 8/5/2014 8:55:24 PM
I just watch my credit report and look for any new accounts or attempted accounts.

I also really am careful when choosing a new credit card. Say my Amex...I bought all my Dell monitors with it. If they break in the next few months I can call them and get my money back. Couple that with the points and cool beans.

With my crappy secured capital one im not even sure I'm how a chargeback works! Lol.

Just watch your credit score and accounts.
#6PhilOnDezPosted 8/5/2014 9:00:20 PM
Damaged7 posted...
Damn Phil, seems like its easy to go buy a new TV then claim it wasn't you.


They're pretty good at catching whoever spent your money. If they weren't they would make you work a lot harder to prove it wasn't you. When they call amazon and ask where that tv got delivered and it's your house you better be ready for jail time.
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Every time I try to go where I really wanna be it's already where I am, 'cuz I'm already there
XBL, PSN, Steam, Origin, BSN, GFAQs, MC: PhilOnDez
#7TimePharaohPosted 8/5/2014 9:09:32 PM
PhilOnDez posted...
Damaged7 posted...
Damn Phil, seems like its easy to go buy a new TV then claim it wasn't you.


They're pretty good at catching whoever spent your money. If they weren't they would make you work a lot harder to prove it wasn't you.


Not really. They honestly don't give a **** it's more important to keep you as a customer than worry about it. You can dispute pretty much anything with no issue.

And it they could catch people that easily, credit card fraud wouldn't be a MASSIVE thing.
#8Garage_ManPosted 8/5/2014 10:03:51 PM
Why would you risk it for a freaking TV? It's a few grand at best. Why waste your time. The time wasted dealing with the company could easily be used to make 2k to buy the darn TV!!!
#9Hi CPosted 8/6/2014 3:58:08 AM
Anything involving credit or insurance is like flushing money down the toilet.