There are numerous identity theft services that will promise you the world only to collect your money and offer little in the way of true identity theft protection. Here are nine tell-tale signs that a company claiming to provide identity theft services may be a less than wise investment:
- Do they promise to offer 100 percent protection? If the language used on their websites insinuates this claim, look elsewhere, for there is no way to completely protect against identity theft.
- Are scare tactics involved in the sales process? While fraud is serious and has the potential to be significantly damaging, not everyone will become a victim, and no identity theft services should lead you to believe otherwise.
- Is basic information about the company made readily available? If not, this is a clear indicator that the company is hiding something, which is a likely dash against the company’s legitimacy.
- Is it clear what exactly the service monitors? There should be no questions about which of the three credit monitoring bureaus — TransUnion, Experian or Equifax – the identity theft service keeps track of.
- Does the company explain what credit monitoring actually does? While these services will alert you to new accounts opened up in your name, the company should be clear about the limitations of its service.
- Is victim assistance offered, as well as an explanation of what this entails? It should be clearly stated what reparations are available and the full limitations of the service.
- Are costs made clear up front? Have a complete understanding of all costs involved before you sign up for any service.
- Is the insurance policy unclear? A responsible company will clearly answer questions about who is eligible and what is covered in an easy to access part of the website.