TrueCredit vs. LifeLock

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Credit monitoring companies, like TrueCredit, do exactly what the name suggests; they monitor your credit report and score and watch for changes and suspicious or fraudulent activity. Having a company monitor your credit report is useful in that you let professionals review your credit report for hints of fraud that you might overlook. But is it really the answer to preventing identity theft?

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What Will TrueCredit do to Protect My Identity

TrueCredit is a credit monitoring service that keeps track of your credit reports and credit scores plus gives you access to your credit report along with charts that map your financial situation. TrueCredit will email your alerts 24 hours a day if there is suspicious activity or changes in your credit report. TrueCredit states that you will be alerted if there are new inquiries, new accounts opened, or late payments. All of these could hint that someone is trying to or has succeeded in stealing your identity.

TrueCredit also gives you secure access to your credit report along with an interactive guide to deciphering your credit report. They provide graphic analysis tools that chart your credit score’s progress as well as graphs and charts depicting any changes in your income, credit score and debt.

The big difference between LifeLock and credit monitoring companies like TrueCredit is that LifeLock takes credit card monitoring to the next level by actually endeavoring to prevent identity theft. TrueCredit will indeed inform you of changes, but it then becomes your responsibility to fix the results of any fraud.

What Will LifeLock do to Protect My Identity

LifeLock pledges to prevent identity theft by placing fraud alerts on your credit report to try and prevent potential defrauders from obtaining credit cards, loans, or even opening accounts in your name. If your identity is stolen, you are still protected with LifeLock. They offer a $1 million guarantee to hire trusted professionals to deal with this problem so you don’t have to.

LifeLock provides you with access to your credit reports and LifeLock will also have your name removed from all the pre-approved credit card offers that clutter most people’s mailbox. Although your bank can still send you pre-screened offers, once you join LifeLock, the other offers will be dramatically reduced, and a popular avenue towards stealing identities will have a road block. After all, if these offers aren’t in your trash or recycling bins, then potential thieves can’t steal them. LifeLock also monitors known criminal sites that sell personal information to make sure your name and information isn’t for sale. They will also notify you if a new address becomes associated with your name, as this could also indicate that fraud is in progress.

Although TrueCredit will follow through and monitor your credit report and score, even send you colorful graphs charting your financial progress, they really have no power to prevent identity theft or solve the problem should this unfortunate occurrence happen to you. LifeLock not only pledges to prevent identity theft, but won’t leave you to get yourself out of trouble should identity theft strike your home.

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