Strongly not recommended
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Identity Guard is a credit monitoring and identity theft protection service offered by Intersections Inc. Intersections is a major player in the identity theft protection business that powers the ID theft services of several major businesses, such as American Express®' CreditAware. The company was launched in 1996 and has an A+ rating with the BBB. In 2014 it generated $190.1 million in revenue: a revenue drop of over $120 million from the $310.3 million generated in 2013.
What Services Does Identity Guard Offer?
Identity Guard provides online access to credit reports and scores from all three credit bureaus. It also includes Social Security Number monitoring, ID verification alerts, lost wallet protection, monitoring of the internet black market for personal information, public record monitoring, credit application alerts, change of address alerts, antivirus, password protection software, credit report analysis, online financial tools and a $1 million identity theft insurance.
Identity Guard does not, however, provide users their FICO scores: the scores most lenders look at when determining credit eligibility. The proprietary credit scores from the three major credit bureaus are useful for educational services, but do not offer borrowers access to the scores lenders use.
How Does Identity Guard Work?
Identity Guard is a subscription-based service that includes both credit monitoring and identity theft protection. If your identity is stolen, Identity Guard will also help recover your identity and compensate you financially for the time and money lost. Users must register with Identity Guard, have a credit card (or another method of payment) and confirm their identity by providing their full name, address, date of birth and Social Security Number.
How Much Does It Cost?
Identity Guard has a monthly subscription price of $20.
How is Identity Guard Better/Worse Than Other Credit Reporting Companies?
Identity Guard provides credit reports and scores from all three credit bureaus. It also monitors the internet to see whether personal information, such as your Social Security Number, is being misused. The company has nearly 30 years' experience in the identity theft business and an A+ rating with the BBB. In the last three years it has only had 47 complaints with the BBB, which is amazing for a company this size.
Identity Guard provides a good deal when compared with other credit monitoring services that charge $20 to $40 for less services. The only catch is that Identity Guard doesn't offer FICO scores, something that's easy to miss when reading their website's marketing. Another caveat to consider is that credit reports and credit scores are only updated every three months. Unlike other credit reporting companies, Identity Guard does not offer unlimited access to credit reports.