[If you follow the link above, you can protect your credit and identity with enrollment in a 7-day trial after the purchase of a $1 Experian Credit Report.]
ProtectMyID is a service offered by Experian, one of the three major credit reporting agencies in the United States. Experian has its headquarters in Ireland but has offices throughout the world. Its United States headquarters are located in Costa Mesa, California. Experian employs over 17,000 people worldwide and had a net income in 2014 of $754 million. The credit reporting arm of Experian started in 1993. It's a BBB accredited business with an A+ rating..
What Services Does ProtectMyID Offer?
ProtectMyID is a full service identity theft protection program that monitors over 50 identity elements and notifies users of suspicious activity. This includes scanning the internet and monitoring credit reports for unauthorized use of Social Security, debit cards and credit cards. It also offers a $1 million identity theft insurance underwritten by AIG; and if users do become the victim of identity theft, ProtectMyID has a team of fraud recovery specialists to help.
As part of a 7-day trial, ProtectMyID also gives users a snapshot of their Experian credit report and PLUS score. Notice Experian's PLUS score is not used by lenders and is only provided for educational purposes.
How Does ProtectMyID Work?
ProtectMyID is subscription-based service that starts with a 7-day $1 trial. If you don't cancel the membership within the 7-day trial period you are effectively agreeing to an indefinite subscription to their credit reporting and monitoring services.
In order to check users really are who they claim to be, all members must confirm their identity. They must open an account with ProtectMyID and provide their full name, address, date of birth and Social Security Number, as well as a credit card or other method of payment.
How Much Does It Cost?
ProtectMyID charges $19.95 a month for its identity theft protection services. The product starts as a 7-day trial that includes your Experian credit report and score. When you order your $1 Experian Credit Report and 7-day trial, you will begin your 7-day trial membership in ProtectMyID® you will be billed $19.95 each month that you continue your membership. You may cancel your trial membership anytime within the trial period without charge. If you do not cancel your membership within the 7-day trial period,
How is ProtectMyID Better/Worse Than Other Credit Reporting Companies?
ProtectMyID offers comprehensive identity theft protection that scans credit reports and the internet for over 50 identity elements. ProtectMyID is part of Experian, a world leader in credit reporting and identity theft protection that has over 25 years' experience and an A+ rating with the BBB.
However, ProtectMyID does not include access to your credit report and score, with the exception of the complimentary credit report and score that comes with the initial 7-day trial. In any case, the free credit report and score is based exclusively on Experian's credit data. This service does not give you ongoing access to your credit reports or to the credit score lenders use to determine your creditworthiness. You will have to find another provider if you want to access your credit reports or see your FICO score.
Experian is currently involved in legal action with the Attorney General of Mississippi for allegedly mixing up the identities of consumers and reporting accounts as late when they were paid on time or fully settled. Any of the three credit bureaus could have errors in their credit reports, which is why it is a good idea to look at the data reported by all three credit bureaus: Equifax, Experian and TransUnion.