5 Reasons Why Free Credit Monitoring Isn't Enough

​After the Equifax breach, the news media (and our MyIDCare blogs) were full of advice to protect yourself from ID theft, including checking your free annual reports from the three major credit bureaus. So, you might wonder, “If I can monitor my own credit reports, why should I consider an identity protection service?” It’s a good question, and here are five good reasons why an identity protection service (IDPS) is better than free credit reports alone.

1. You’re entitled to a free annual credit report from each of the three major credit bureaus, and you should go ahead and review those, one to every four months. But most identity protection services offer ongoing monitoring of at least one bureau, so if someone commits financial fraud with your identity, you’re likely to find out sooner and limit the damage the criminal can do.
   
   
2. Large-scale cyber-attacks are the most common cause of identity theft these days, and the stolen information is typically sold on the Dark Web to the criminals who will use it for fraud. A good identity protection service like MyIDCare monitors the Dark Web for your personal information and alerts you, so you have time to set a fraud alert or credit freeze and you can watch extra carefully to head off potential problems.
   
   
3. Monitoring your credit report helps deter financial fraud, but there are many other kinds of identity theft such as medical, criminal, employment, insurance, and more. An identity protection service helps alert you to more than just financial ID theft and can help restore your identity, which brings us to…
   
   
4. Most important, monitoring helps you discover identity theft, but it doesn’t help you clear your identity, which can be a long, involved, and painful process. A good identity protection service will not only alert you to problems, it will also put expert recovery advocates on your case who can restore your identity with a minimum of hassle, stress, and time away from the other important parts of your life.
   
   
5. Last, but certainly not least, your identity protection service should help you protect yourself better through articles, social media alerts, and other resources that help alert you to the latest scams and threats. That’s why MyIDCare shares tips and strategies, because the best kind of identity theft is the one that never happens in the first place.

If you regularly check your own annual credit reports, good for you because you can’t be too careful. But because you are careful, also consider an identity protection service so you’ll be ready for whatever happens.