We Review Experian's ProtectMyID

Credit Monitoring for your Personal Information

by Paige Estigarribia

The Dollar Stretcher was sent a promotional code for access to Experian's ProtectMyID service to facilitate this review. The Dollar Stretcher was not compensated for this review. All opinions expressed in this article are those of the author.

Identity theft. It's a pretty common problem, and one that doesn't look to be going away any time soon. According to the National Criminal Justice Reference Service, last year, identity theft accounted for 14% of all complaints received by the FTC's Consumer Sentinel's Network. Although this percentage may seem small, it was actually about two million complaints! And according to this same data, 85% of these identity theft incidents involved the fraudulent use of existing account information, like banking or credit accounts. So what's out there to help? Experian has a credit monitoring product called "ProtectMyID." I tried it out myself, and I have to say, it definitely puts my mind a little more at ease when it comes to potential identity theft. What's my opinion?

What is ProtectMyID?

ProtectMyID is a credit monitoring service that basically has three main components: Detect, Protect, and Resolve. To help users detect suspicious or unauthorized activity on their accounts, ProtectMyID sends out surveillance alerts. They scan your credit report and look for leading fraud indicators, and they also scan the internet for unauthorized use of your bank cards. They also monitor any changes of address online. Their overall protection component includes a lost wallet protection function, and ProtectMyID also assists with resolution if problems come up.


What We Liked about the ProtectMyID Services

In my opinion, one of my favorite things about ProtectMyID is the fact that the service sends out alerts via email or (if you elect) via text message. If everything is clear, they also send out a message to tell you that too! We also really like how the service will monitor your bank accounts online, and keep you posted of suspicious activity. As much as I try to keep tabs on my online accounts, for me, it definitely makes me feel better that someone else is out there watching out for my accounts and information online


Things to Think about Before Enrolling in ProtectMyID

ProtectMyID currently costs $19.95 per month, so this will be a cost to figure into your budget. But in our opinion, the peace of mind is worth it. And you will also have to consider that to monitor your personal information, ProtectMyID will ask for your information - things like your credit card numbers and social security numbers are just examples of information you'll need to provide to ProtectMyId so that they can provide full service.

And that's it! In our opinion, Experian's ProtectMyID service is a great credit monitoring tool, and a wonderful way to keep an eye on your personal information.

Paige Estigarribia is a writer for The Dollar Stretcher who enjoys writing about food, frugal living, and money-saving tips. Visit Paige on Google+.

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