MyFICO Identity Theft Protection - Short Review

MyFICO Identity Theft Protection Overview

MyFICO Identity Theft Protection is a comprehensive service designed to safeguard your personal and financial information from identity theft and fraud. As a division of Fair Isaac Corp., myFICO leverages its expertise in credit scoring and monitoring to provide a robust set of features aimed at protecting your identity.

How it Works

After signing up and selecting a plan, you will be required to input your identifying information and answer a few questions to verify your identity. MyFICO then scans its extensive databases to identify any mentions of your personal information and provides an in-depth report on your credit health and areas for improvement in your identity security. The service continuously monitors your personal information for suspicious activity or changes, alerting you via the mobile app, SMS, or email as preferred.

Key Features

• Credit Monitoring: MyFICO offers comprehensive credit monitoring across all three major credit bureaus (TransUnion, Experian, and Equifax). This includes quarterly, monthly, or annual credit reports and score updates, depending on the plan you choose.
• Credit Alerts: One of the standout features is the ability to receive notifications whenever your credit score changes, an early warning sign of potential fraud that many other identity theft protection services do not offer.
• Risk Assessment: The service provides a detailed analysis of your credit report, known as a risk assessment, which helps identify issues in your credit behavior and suggests ways to improve it and prevent identity theft.
• Dark Web Surveillance: MyFICO monitors the dark web for any mentions of your personal information, a critical component in preventing identity theft.
• Public Records and SSN Monitoring: The service includes monitoring of public records and Social Security number activity to detect any suspicious changes or uses.
• Financial Account Takeover Monitoring: MyFICO also monitors for any attempts to take over your financial accounts, providing an additional layer of security.
• Identity Theft Insurance: All plans come with $1 million identity theft insurance, covering costs such as travel expenses, lost wages, legal fees, and other personal expenses incurred during the identity restoration process.

Additional Services

• 24/7 Customer Support and Identity Restoration: MyFICO offers round-the-clock customer support and dedicated identity theft restoration specialists who assist in recovering your identity if it has been stolen or used fraudulently.
• Lost Wallet Replacement Assistance: In the event of a lost or stolen wallet, myFICO helps with replacing identity cards and canceling credit cards to prevent further misuse.
• FICO Score Simulator: The service includes a credit score simulator that allows you to evaluate how different financial decisions, such as taking out a loan or mortgage, might affect your FICO score.

Plans and Pricing

MyFICO offers several plans, including the Basics, Advanced, and Premier plans. The Premier plan is the most comprehensive, offering monthly credit reports and updates from all three credit bureaus, although it comes at a higher price point of $39.95 per month.

User Experience

The myFICO interface is praised for its simplicity and contemporary design, making it easy to navigate and address identity theft issues or credit problems. The mobile app is particularly commendable for its clean layout and effective functionality.

In summary, MyFICO Identity Theft Protection is a robust service that combines extensive credit monitoring, advanced risk assessment, and comprehensive identity theft protection features, all backed by a reputable company with a strong track record in credit scoring and analytics.