No. of Recommendations: 5
Lifelock and other credit monitoring services are like being alerted after the fox has left the hen house. Lifelock's business model is based on fear - making you afraid that someone is coming to steal your identity. Unless you pay them $10/month for basic protection, that is.

Here's a Consumer Reports article:

https://www.consumerreports.org/cro/2013/06/id-theft-protect...

If you already have the credit freeze, you're doing more to protect yourself than Lifelock's basic service will do. And if you are retrieving one of your free credit reports from the Credit Reporting Agencies at annualcreditreport.com each year (I like to space them out every 4 months), you can keep an eye on whether any unknown accounts or activity shows up (which shouldn't happen if your credit is frozen).

If that's not enough, you can get free credit reports from many banking institutions now, as well as your credit score, and from CreditKarma.com, one of my favorite sites.

So basically, lifelock doesn't lock anything - they just monitor and notify you when the lock is picked. But credit freezes do lock your credit profile and prevent anyone else from opening an account in your name.

Does it prevent identity theft completely? No, because not all identity theft is credit releated. It's still possible your personal information will be out there for sale on the dark web or something. But whoever buys it won't be able to use it to open accounts in your name.

And now, Congress has passed a law that makes credit freezes free for all three CRAs. Hooray! But you still have to use the tools offered to you.

Fuskie
Who notes there's always a good chance that a company with whom you do business, or even your local government, will get hacked or place personal information at risk and offer you free credit monitoring as compense, which you can take and it will do the same thing as Lifelock, but first and foremost, freeze your credit...

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