An estimated 15.4 million Americans fell victim to identity theft in 2016. Costs associated with identity theft rocketed up to $16 billion dollars in 2016 alone.
Nobody can stop identity theft, but careful monitoring can limit the costs of identity theft. You need to find an identity theft service that fits your wallet and your life.
One such service includes TrueIdentity service from TransUnion. With free and premium products, TrueIdentity protects your time and money from fraudsters.
What is TrueIdentity?
TrueIdentity is a credit and identity protection service offered by TransUnion. TrueIdentity focuses on identity protection through monitoring your credit report. They also alert you to changes in your credit report. Other benefits include: identity theft insurance, the ability to instantly lock your TransUnion credit report, free credit alerts, and free monthly credit scores.
Premium service subscribers also get password protection through DashLane, Black Web monitoring, and Identity Theft Resolution Services. What does that mean? If you become a victim of identity theft, TrueIdentity will restore your identity for you. You won’t pay for a thing out of pocket.
TrueIdentity offers one of the lowest cost full service identity theft products in today’s marketplace. We dug into the product to explain what features we love, and which we’d rather ignore.
TrueIdentity Free Services
TrueIdentity’s free credit monitoring services rival other free credit monitoring services. Like competitor Credit Sesame, TrueIdentity offers $25,000 in identity theft insurance just for signing up. Insurance covers up to $2,000 in legal costs, $2,000 in lost wages, and other costs associated with identity theft recovery.
To be honest, $25,000 should cover the costs associated with even the most complex identity theft recovery cases.
On top of the identity theft insurance, TrueIdentity offers free services that can help you detect identity theft early on. These include instant credit alerts. If your TransUnion credit report changes, TrueIdentity will alert you immediately.
TrueIdentity also allows you to lock your TransUnion credit report for free. This is the cheapest and easiest way to freeze your TransUnion credit report. Unfortunately, it may not stop fraudsters from opening credit accounts in your name. You need to freeze your credit at all three major credit bureaus to stop the fraudsters.
Besides the identity protection features, TrueIdentity offers credit education help to their customers. Customers get a free monthly credit score and advice on how to improve their credit score. Credit score is a metric that more people should track, and I love the TrueIdentity presentation of the score.
They also give helpful tips for improving your score.
You’ll also receive a free copy of your credit report from TransUnion. I’m a fan of free credit reports, but TrueIdentity presents the credit report in a clunky fashion. If you load the credit report in a standard browser, you’ll scroll for several pages to see all the relevant information. I prefer the cleaner presentation from AnnualCreditReport.com, Credit Karma, or Credit Sesame.
Unfortunately, signing up for TrueIdentity also means signing up for “My Savings” which is a credit card curation service. Credit card curation services aren’t bad, but this one is poorly implemented. The credit cards are mediocre, and they included some cards with annual fees as high as $995. Skip the recommendations from “My Savings”, and you’ll save yourself some money.
TrueIdentity Premium Services
In addition to the free services, customers can upgrade to TrueIdentity Premium services for $9.95 per month. In this case, the benefits may be well worth it.
Premium customers get access to Identity Theft Resolution services. That means that TrueIdentity will restore your identity for you.
The biggest cost associated with identity theft is the cost of your time. TrueIdentity takes that cost for you. If you’re a busy person who wants peace of mind, $9.95 is not much to pay for that.
Additionally, premium customers can get free password protection using Dashlane, Black Web monitoring, and gratuitous $1 million in identity theft protection. At the $9.95 level, you’ll also gain access to two of the best personal credit tools available today.
The first tool is a debt analysis tool. Using a simple interface, you can determine your debt to income ratio. You’ll also see how much cash you could put towards your debt by cutting expenses in other areas.
Premium customers also gain access to the credit score simulator. This is the most robust credit simulator that I’ve ever seen. You can project how your credit score will change if you avoid late payments. You can determine the effect of opening or closing a credit account. You can even model public judgements like child support or wage garnishment.
The only area where the Premium service falls short is on 3 bureau credit monitoring. Unlike TrueIdentity’s competitor’s (including FreeScore360 and others), TrueIdentity doesn’t offer Premium customers 3- Bureau credit monitoring. To get access to all 3 credit reports, you will need to pay $24.95 per month (on top of $9.95) to get data from all 3 bureaus. This is an excessive cost and not worth it.
Final Thoughts on TrueIdentity
TrueIdentity from TransUnion offers an excellent free product, and an even better Premium service. I love TrueIdentity’s identity theft resolution service. I believe a trustworthy resolution service offers real protection. TrueIdentity offers this service at rock bottom prices.
If you’re interested in free credit monitoring, TrueIdentity should be a contender. If you want to upgrade, look no further than TrueIdentity from TransUnion.
Want to compare TrueIdentity to other identity theft products? Read our reviews: