IdentityIQ is a credit monitoring service that uses three credit rating bureaus to shows users what is going on with their current accounts by tracking the credit history shown on your credit report. This program offers an initial trial period to see the benefits it offers.
What is IdentityIQ?
Credit seems to be a concern in nearly any financial commitment that users make. Whether they are trying to secure a new credit card, purchase a home, or rent an apartment, every person should be acutely aware of what their credit report says. Most people have the misconception that checking their credit report frequently can damage their score, but that’s not exactly true. While many companies allow users to see their current scores, such as Experian, Equifax, and TransUnion™ Reports & Scores, IdentityIQ goes above and beyond.
The key benefit that IdentityIQ focuses on the accessibility of credit scores from the main three bureaus. However, they take this opportunity a step above with the content they offer by providing ID theft protection. Users will have access to daily alerts for any changes that might happen, and they will be able to access specialized tools that let them explore the potential of their credit score.
All of the services focus on protecting, informing, and helping users keep an eye on anything that impacts their identity or credit. Having access to credit reports from all of the reporting agencies gives a rounded look at anything that changes, while the simulator shows how the store and report could change as loans get paid off, and credit card payments occur.
Ultimately, the purpose of this service is to keep users informed, allowing them to see the weight of their credit and data in their life. Let’s take an in-depth look at the services provided with a subscription to IdentityIQ.
One of the biggest ways that anyone can get a clear and straightforward idea of what’s going on in their finances is by checking their credit score and current credit report. When any changes occur, users can access this content to make sure they are responsible for those changes. If any of the changes are suspicious, the user can take action.
While other programs only offer the chance to see the credit report once a year with no fee, IdentityIQ offers 12 reports annually. This allows consumers always to have a clear picture of what is currently going on now.
All of the credit reports are provided by third-party credit bureaus, TransUnion, Equifax, and Experian, and each one is held for a full year after it is made accessible to the user. If the user cancels the service for any reason, they will no longer have access to this content (regardless of the timeframe).
The credit score is provided by a third-party service as well, often sourced from FICO® or VantageScore®. The score is based on the credit report’s information, though each one will determine the score differently. Users should be aware that this company does not hold responsibility for the accuracy of their credit score.
Credit monitoring is an entirely different service than the monthly reports that are sent out. With daily access to this credit report, users can see any change that occurs rather rapidly, allowing them to act fast to correct any problems that may show up.
The monitoring specifically will check at least one of the credit Bureau data files that could indicate that the user’s identity is stolen or that someone is committing fraud with a credit account, such as from the Dark Web, IdentityIQ will monitor your account for suspicious activity and changes in your credit file.
Whenever a suspicious transaction or inquiry arises, the user will receive an email or text from IdentityIQ to let them know.
Identity Theft Insurance
If users come across any circumstance that involves their identity being stolen, their membership security is a $1,000,000 insurance policy for this problem. This insurance policy covers the primary member first, allowing them to cover any costs associated with ID theft. The plan will cover losses that impact immediate family members and allow them to fulfill any part of the $1,000,000 limit that the primary user has not cleaned.
All claims can be filed through IdentityIQ’s customer service team, and they will be directed to a third-party insurance provider. Plus, the plan’s premium is paid directly by the creators of this service. Users will be notified if there are any changes to the policy.
How to Sign Up and Purchase IdentityIQ.
When users initially decide to sign up for IdentityIQ, they get a 7-day trial that will only cost them $1.00. At the end of the seven days, they will automatically be enrolled in the monthly subscription for $34.99 a month. The $1 trial offer is only available to first-time customers, and the discounted price will not last long.
After they pay the trial cost, they will receive a welcome email that shows all of the services they will receive. It will also include a receipt and any details they may need to know about the cancellation. Any services they are eligible for will be available from the moment this email arrives, which should only take a few minutes. IdentityIQ also offers discounts for employees or groups.
Consumers that have inquiries or questions or to cancel the monthly membership can phone them at:
- Phone- 877-875-4347
Frequently Asked Questions About IdentityIQ
What is the difference in the information offered between Equifax, Transunion, and Experian?
The main difference between these three credit bureaus is the timing. Credit card companies, installment payment processors, and other companies report their information to each one at different times.
Equifax is exclusively a credit-reporting agency, only found in 11 countries. However, it tracks data on over 222 million consumers in the United States, providing their own business and consumer products to support credit changes. It lets users lock their credit, and it receives consumer data from financial firms, retailers, government agencies, and others.
TransUnion reports internationally, recording information on both credit and data. It provides users with resources that improve their credit. Along with the access to credit reports/scores, users have the ability to subscribe to TransUnion’s services to freeze their credit at-will for no additional payment.
Experian reports globally, covering 220 million people in the United States alone (in addition to millions of businesses). It tracks information on the user’s credit score and their vehicle records, demographics, and other large data groups. It also has an opportunity to include utility bills as part of good credit history.
What requirements must users meet to sign up?
For the most part, anyone can sign up for IdentityIQ. The new user must be over age 18 it must live in the United States. There are some opportunities for parents to enroll their children, but those services are minimal.
What information do new customers have to provide?
When users sign up for the program, they will have to enter a lot of personal information to validate their identity and properly register. Some of the information required includes their full name, current address, email address, social security number, and birth date. They will also need to provide their payment information for the company to charge them for access. Without accurate information, IdentityIQ cannot provide adequate services to protect the user.
Users will also have to complete identity authentication accurately where they initially set up their account. Once this information is validated, users will be considered a member and access all of the services offered.
What is the refund process for IdentityIQ?
No refunds are available for these services. IdentityIQ Is charged whenever they source information from the user’s credit reports, so they do not return the investment.
What are credit-related services not offered?
Though there are many opportunities for consumers to learn more about the information they have globally, the company does not offer absolutely everything they may need. For instance, counseling on any financial decision (including credit and debt management) is not offered. The company does not provide legal or tax advice, and they do not provide tips on repairing damaged credit. Furthermore, this company does not lend money, and any insurance policy is outsourced to a third-party provider.
What self-service tools are offered by IdentityIQ?
When users take advantage of their membership’s self-service opportunities, they will have access to a credit score simulator. The simulator specifically shows users how different changes would impact their credit scores.
Users will also have access to Synthetic ID Theft, ScoreTracker, and ScoreCasterIQ™.
Final Thoughts on IdentityIQ
IdentityIQ provides users with a way to keep an eye on their credit and data and has an accredited BBB rating. With credit monitoring from multiple agencies, users get a well-rounded look at what employers, banks, landlords, and others will see when they check out their credit history. The subscription is rather affordable for most budgets, and the trial gives consumers a taste of what they can expect from the membership. To learn more about the IdentityIQ program, click here to visit the official website.