Trusted ID Analysis
TrustedID Company Information
Having originated in 2005, TrustedID is based in Redwood City, California and is funded by Opus Capital Ventures and Draper Fisher Jurvetson. It is recognized by the Identity Theft Resource Center which is a non-profit organization that is dedicated to the research and prevention of identity theft occurrences.
TrustedID is considered a premier identity theft company and it has been featured in the New York Times, the Wall Street Journal and Time and Newsweek magazines. It has also been named #1 in its class by Javelin Strategy and Research and has been officially endorsed by renowned financial expert Suze Orman.
Product Features – IDEssentials
This service offers identity theft protection along with additional assistance should identity theft have occurred. The service is composed of several features that make up a comprehensive package that offers consumer ID protection. The package consists of:
Credit Monitoring – performed on a daily basis at the 3 credit bureaus (TransUnion, Experian and Equifax). Notification is given should there be any changes to the credit report. The credit score as well as the credit report from each of the 3 bureaus is provided.
Fraud Alert Option – the option is given to place fraud alerts on credit reports so that the individual is contacted before any new credit is issued. Assistance with renewing credit bureau fraud alerts is given through a Fraud Alert Reminder every 90 days.
Identity Threat Score – this is designed to assess the risk of an individual’s identity theft. This is accomplished through the constant monitoring of hundreds of private and public databases while sifting through millions of financial records. Patterns are analyzed through advanced technology in order to determine identity theft occurrences or the possibility of a future occurrence. The score is calculated on a 0 – 500 scale (0 = safe, 500 = identity theft has already occurred). Specialists at TrustedID will assist in proactive measures to protect the individual’s identity.
Stop Unsolicited Credit Report Checks – this will halt pre-approved credit solicitations by having TrustedID remove the individual’s name from solicitor’s lists. Third parties will no longer have credit report access. Other types of junk mail will also be reduced.
Medical Benefits Security Check – a medical benefits statement review to determine if any unauthorized medical care is being performed.
Checking the Identity Theft “Black Market” – TrustedID will routinely scan for your personal information in places where ID thieves buy and sell personal ID information such as bank and credit card numbers, Social Security numbers and names and addresses.
TrustedID Service Warranty – if identity theft occurs while using their service, the victim will be covered for up to $1 million. The money is to be used to cover expenses incurred while repairing the identity theft damage; legal fees, new credit application fees, missed time at work due to compromised employment qualifications or time taken off to repair identity theft damage. Up to four weeks or $5,000 lost wages are covered. TrustedID will also assist with the restoration of identity.
Family Plan – covers the above mentioned credit scores, monitoring and reports for 2 adults at a discount over the standard plan.
Credit Freeze – for an additional fee, TrustedID will place a credit “freeze” with the three credit bureaus. This adds convenience to the process – rather than manually contacting the bureaus, separately.
Customer Service
TrustedID customer service is available 24/7 and is not outsourced to foreign countries. The service line is staffed by knowledgeable identity theft experts and reports indicate that the service quality is superior. Additional products are suggested only when a direct need is indicated.
Pricing
TrustedID offers a 14-day free trial period. The price for TrustedID is $125 per year for an individual. The family plan (for 2 adults) is $240 per year.