Can IdentityIQ Really Protect Your Finances? The Truth

Chances are, you’re in the market for an identity theft protection service. While it’s widely used, IdentityIQ gets mixed reviews. But, you already know that doesn’t mean it can’t help you. So, let’s dig in deep and take a close look at IdentityIQ’s offer, pricing, and what you can expect. 

Spoiler: The offer is super robust. 

This is what’s in store:

• What is IdentityIQ?
  • Is There a Monthly Fee for IdentityIQ?
  • Company Overview
• What Does IdentityIQ Do?
  • 1. Credit Monitoring
  • 2. Credit Reports & Scores
  • 3. ID Theft Insurance + Fraud Restoration
  • 4. Dark Web Monitoring
  • 5. VPN & Antivirus Protection
  • 6. Utility Payment Reporting
  • 7. Alerts on Crimes Committed in Your Name
• ⚠️ The Ironic IdentityIQ Scam
• Frequently Asked Questions
• Conclusion: Is IdentityIQ Legit?

So, let’s jump in! 

What is IdentityIQ? 

IdentityIQ is like your online guardian, making sure your personal info stays off the radar of cyber troublemakers. In a nutshell, they’re all about preventing identity theft and keeping your digital life secure.

What do they offer? Well, think credit monitoring, regular check-ins on your credit scores, and a bunch of extra goodies like antivirus and VPN services for that added layer of protection. It’s like having a virtual bouncer for your online presence.

But here’s the cool part – if things ever take a turn for the worse and someone tries to mess with your identity, IdentityIQ has your back with identity theft insurance. It covers things like legal expenses and lost wages, acting as your digital safety net.

And they’re not just looking out for you; they’ve got your family covered too, from the grown-ups to the little ones. Because, let’s face it, the internet can be a wild place for everyone.

So, if you’re serious about keeping your personal data in lockdown mode and want a reliable partner in the digital realm, IdentityIQ could be your go-to. Just pick a plan that fits your needs, and let them handle the heavy lifting in the world of online security. 

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Is There a Monthly Fee for IdentityIQ?

IdentityIQ offers a range of identity theft protection plans with varying monthly fees to accommodate different needs and preferences, from at $6.99 to $29.99 per month. The plans provide comprehensive protection against identity theft, and you can choose from options based on your desired level of security and budget.

• The top-tier Secure Max plan, priced at $29.99 per month, includes monthly 3-Bureau Credit Reports & Scores, enhanced credit monitoring, crime alerts, $1 million stolen funds reimbursement, and family protection features.
• For a balance of protection and cost, the Secure Pro plan is available at $19.99 per month, offering biannual 3-Bureau Credit Reports & Scores and robust identity theft safeguards.
• The Secure Plus plan, priced at $9.99 per month, provides annual 3-Bureau Credit Reports & Scores and essential identity theft protection features.
• For a budget-friendly option, the Secure Plan is available at $6.99 per month, offering basic protection without specific feature details.

IdentityIQ’s monthly fee options cater to anyone seeking tailored identity theft protection, which ensures accessibility to varying levels of security based on individual preferences and financial considerations.

While lots of people want to try it, IdentityIQ doesn’t offer a free trial (you probably wouldn’t know what you were getting out of this type of service in the first month, anyway). However, CreditScoreIQ, which is IdentityIQ’s subsidiary, does offer a $1 7-day trial for credit reports, monitoring, and ID theft protection.

Company Overview

IdentityIQ is a Temecula, California-based IT and cybersecurity company that was founded in 2009 by Scott Hermann, who seems to be a serial entrepreneur. Prior to launching IdentityIQ, Hermann founded Mitchell Hermann Capital, and previously served as Vice President of Mortgage and Automotive for CoreLogic. 

SailPoint Technologies Inc. now owns IdentityIQ, along with several other subsidiaries including: 

• Whitebox Security
• Orkus
• OverwatchID
• Intello
• A handful of others

SailPoint’s been around since 2005, when it was founded by Kevin Cunningham and Mark McClain. Since then, this technology company has raised $26.1M in funding from investors, acquired at least 8 software companies, and grown into a publicly-traded conglomerate. 

The parent company is based in Fremont, California, and Mark McClain is the current CEO. 

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What Does IdentityIQ Do? 

Identity protection is a fundamental element of a strong credit profile and high credit score. 

We all know that IdentityIQ’s core offer is to protect your identity (and your finances), but it’s important to have realistic expectations before you sign on to a new offer. So, let’s take a deeper dive into the features and benefits of an IdentityIQ account. 

1. Credit Monitoring

IdentityIQ’s credit monitoring stands guard over your credit reports from major bureaus. It acts like a vigilant sentry, constantly scanning for any suspicious activity that could signal identity theft. 

For instance, if someone attempts to open a new credit card in your name, this feature steps in with a timely alert, giving you the upper hand in stopping fraudulent activity before it wreaks havoc on your financial standing.

This feature is particularly valuable for users who want proactive measures against identity theft, providing real-time insights and empowering them to take control of their credit health.

You might also like: Is 849 a Good Credit Score? 

2. Credit Reports & Scores

IdentityIQ’s Credit Reports & Scores feature is like having a personal financial GPS that not only offers regular access to your credit reports and scores but also guides you through the twists and turns of your credit landscape. 

This tool acts as a compass, pointing out when you’re on the right path and warning you if there’s an unexpected detour. Let’s say you’re eyeing a major financial milestone, like purchasing a home – With IdentityIQ’s Credit Reports & Scores, you can keep a close eye on your credit health, making sure you’re in prime position to secure a favorable mortgage. 

For users who want to actively manage and understand their credit, this tool is the go-to resource for staying in control of their financial destiny.

Recommended: Applying for a Mortgage? How to Prepare Your Credit 

3. Identity Theft Insurance + Fraud Restoration

IdentityIQ’s identity theft insurance ready to catch you if you ever fall victim to identity theft. Imagine a scenario where your identity is stolen, and you’re faced with legal expenses, lost wages, or other out-of-pocket costs – that’s where this insurance coverage shines.

If your coverage is active when the theft occurs, you’ll be covered up to $1M, depending on your plan. This provides the peace of mind that, even in the face of unforeseen challenges, you can bounce back.

💡 Did you know that Self Credit Builder offers ID theft protection up to $1M as part of their monthly subscription? For some, this might be a good way to kill two birds with one stone.  

In the unfortunate event of identity theft, IdentityIQ’s fraud restoration with limited power of attorney (LPOA) steps in as your personal cleanup crew. You’ll have a eam of experts by your side, untangling the mess, handling legal matters, and guiding you through the process of identity restoration. 

This feature is crucial for users who want assurance that, in the unfortunate event of identity theft, they have expert assistance to guide them through the steps of recovery.

4. Dark Web Monitoring

IdentityIQ’s dark web monitoring will tirelessly patrol the hidden corners of the internet on your behalf. It acts as a proactive force, seeking out any trace of your personal information in the shadows where identity thieves lurk. 

For example, if your email credentials or other sensitive data appear on the dark web, this feature promptly alerts you, preventing potential misuse. It’s a vital component for users who want to take preemptive action against digital threats, ensuring that their personal information remains secure in the ever-evolving landscape of online security challenges.

Recommended: 10 Ways to Protect Your Money from Online Hacks 

5. VPN & Antivirus Protection

IdentityIQ’s VPN protection creates a virtual fortress around your internet activities. This feature encrypts your internet traffic, ensuring that your sensitive information remains private and secure. 

For example, when using public Wi-Fi, the VPN protects your data from potential hackers or data snoopers, offering a layer of security that keeps your online activities confidential — VPN protection is a must-have for users who prioritize online security, providing a shield against the increasing threats of cyber attacks and unauthorized access to personal information.

Next, antivirus protection stands guard against malware and cyber threats. This feature ensures that malicious software doesn’t compromise your personal information or disrupt your online activities. 

For instance, if you inadvertently click on a phishing link, the anti-virus tools detect and neutralize potential threats before they can harm your device or compromise your sensitive data — This caters to users who want comprehensive protection against the wide array of digital threats that can compromise their digital security.

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6. Utility Payment Reporting

IdentityIQ’s utility payment reporting turns your everyday bills into building blocks for your credit score. It’s like giving your credit score a boost by reporting timely utility payments to major credit bureaus. For example, when you consistently pay your utility bills on time, this feature ensures that those on-time payments positively impact your credit history.

It’s a valuable tool for users who want to actively build and improve their credit score. By including timely utility payments in their credit report, this feature contributes to a stronger credit history, opening doors to better financial opportunities.

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7. Alerts on Crimes Committed in Your Name

IdentityIQ’s alerts on crimes committed in your name are your virtual crime stoppers, keeping a vigilant watch over any potential misuse of your identity. It’s like having a guardian standing watch, ensuring that your name remains clean and protected from criminal activities. For instance, if someone attempts to use your identity when questioned by law enforcement, you receive an immediate alert, empowering you to take swift action to clear your name.

It’s not just about being informed after the fact; it’s about preventing legal headaches by stopping identity-related crimes in their tracks. This feature is particularly important for users who value a proactive approach to protecting their identity and ensuring their name remains untarnished in legal matters.

You might also like: Is Credit Repair Legal? 

⚠️ The Ironic IdentityIQ Scam

Despite the fact that this company is built around protecting consumers, there are some IdentityIQ scams that you should be aware of – these swindles are not caused by IdentityIQ and doesn’t indicate that IdentityIQ has a data leak, but the company doesn’t necessarily make it easy to remedy. 

First of all, if you received an email from IdentityIQ, but you never signed up for their offer, this is a sign that your identity has probably been stolen. Your information was most likely used to create an IdentityIQ account so that the scammer(s) could get a copy of your credit report. In this case, you need to take action immediately.

Recommended: Credit Freeze Pros & Cons: Safeguard Your Financial Future

Unfortunately, anecdotal evidence suggests that when you try to reach out to IdentityIQ to get this resolved, it could be a less than pleasant experience – you can’t cancel online, so you have to call in (which is probably unlawful under ROSCA). At this, you may be forced to sit through a sales pitch. 

While this is not IdentityIQ directly scamming customers, at least one former IdentityIQ employee has said that the company doesn’t take this common occurrence seriously enough. 

Next, you may run into what seems like an identity verification scam…Someone like a potential landlord or other individual who needs to know your credit asks you to click their link to IdentityIQ’s website and enter your identifying information (so that you can share your credit score with them during an application process). 

You should be wary, as it could be one of two things: 

1. A scammer sent you a link to a fake form to access your identifying information.
2. A legitimate person or group sent you an affiliate link so they can get a small commission if you sign up for IdentityIQ services.

Make sure that you confirm you don’t send identifying information over any website that you don’t trust. Note that IdentityIQ’s domain is identityiq.com, and any other domain that bears their logo is probably fraudulent. 

So, is IdentityIQ a scam? No! But, if you didn’t ask for a monthly subscription, it is a huge burden to get stuck with the recurring bill. A lot of people have had a poor experience because of scammers using the site for their own gains…Hence, the main reason you’ll find so many poor IdentityIQ reviews. 

You might also like: How to Read and Understand Your Credit Report

Frequently Asked Questions

Conclusion: Is IdentityIQ Legit? 

Yep, IdentityIQ is legit. If it weren’t for the scammers giving it a bad name (and maybe the fact that the company hasn’t made any known efforts to prevent this), it would probably be a 5-star solution. As it is, the offer might make some uneasy. 

Really, if you’re in the market for ID theft protection, I think this offer is more than legitimate – In this review, I didn’t even cover their family id protection or application monitoring (they’re the cherries on top). In all, IdentityIQ is a comprehensive solution. 

Before you sign up, though, be aware that you could go with a competitor or double-check with all of your existing financial offers to see if you’re already protected and don’t know it. 

To get that credit score up fast so you can move forward with your life, check out Credit Secrets and start your journey to better financial health.