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I think I get it through one of the major credit places. $16 a month, same protection the other places offer for $30. Let’s me sleep better at night. Had a scare a few years ago with it and it was just horrible. $14 for umbrella insurance and $16 for identify insurance let’s me sleep very well at night.
Do you have any stats or links for this? Yes, it can occur, but a jet can also fall on your head. The question is how likely is it to occur. I'll bet there have been many. many more instances where a credit freeze stopped a fraud from occurring vs how many times a commercial loan was taken out after a credit freeze. Anyone who does not do a credit freeze that reason is taking a big chance.
These are generally not worth the cost. Maybe if they will reimburse you at a high rate for the time you have to spend should identity theft occur, it might be worth it. But I don't think they do that. You are better off freezing your credit and quickly reporting if anything odd happens.
This one falls under the category of things you are better off self-insuring. Put the money you would spend on it into an account for yourself to cover if needed. I used to do this with electronics and in a few years I realized I was doing far better by self-insuring. If you are reasonably careful you will rarely get a cellphone or such failing on you. If it does fail, it's usually under warranty and gets replaced for free. Or it's so old that I was going to replace it anyway. I have gps devices, ipods, etc that are well over a decade old and still working. For many insurance categories you're subsidizing people who are just extremely careless.
I have identity theft protection that is attached to my SSN, since I had (2) occurrences of fraud in (45) days back in early 2020. I was offered the protection through a credit card company (Citi), because of the fraud issues. I also now turn off/on the ability to run my credit. I recently applied for a BofA credit card and didn't turn on the ability to run my credit (through TransUnion). A representative of BofA called me to verify my information before approving me and sending me a card. They verified some questions and sent me a text with a 6 digit number that I had to repeat to them.
Identity Theft is a headache, but it's pretty easy to navigate these days. It was pretty easy to get off my credit report as well. I didn't have to do anything, as that was all handled by Citi. All my bill payments are ACH these days, so I was definitely surprised when I received not only a Sams Club CC (not even a member), but a Best Buy CC in the mail as well. Someone had gained access to my SSN and my physical address.
I haven't had any issues since and it was an easy issue to rectify.
OK, we have Citi also and will contact them re ID theft. Sad to say, the people (? questionable about them being people) who defraud will do anything to get money. That must have been scary to get CC's you didn't ask for. We had a theft a few months ago, the credit card company checked it out and did not charge us for it. That was before, however, the incident with the fraudulent computer help company.
I think I get it through one of the major credit places. $16 a month, same protection the other places offer for $30. Let’s me sleep better at night. Had a scare a few years ago with it and it was just horrible. $14 for umbrella insurance and $16 for identify insurance let’s me sleep very well at night.
As far as sleeping at night, that's why I decided to get out of the stock market personally.
I think I get it through one of the major credit places. $16 a month, same protection the other places offer for $30. Let’s me sleep better at night. Had a scare a few years ago with it and it was just horrible. $14 for umbrella insurance and $16 for identify insurance let’s me sleep very well at night.
OK, so how does it work? I'm thinking -- I didn't take umbrella insurance, so now I'm wondering. What happens if a horrible accident occurs and someone sues me (for everything I've got, and it's not that much). Let's say they sue me for damage to their home and person for $1,000,000. Maybe I'll start another thread. P.S. We've got some money in the bank, not that much, and are on a retirement income.
Any outs and you can bet these institutions will likely go for it ....
Ever read the zero liability fine print on debit cards ?
They are not protected under the same laws even .
There is a lot of fine print on the debit card zero liability and you have no control over a good part of it .
Oh now you got me thinking, I just got my first debit card after years of refusing to get one because of liability and theft issues. I use it only to go to teller window drive up. I'm afraid of outdoor ATMs. Unfortunately nothing 2ill stop a rabid thief though.
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