| Like anything else,
you don't know what it's like until you experience it.
It's one thing to read about how credit
freezes, fraud
alerts and credit-monitoring
services should work, and another to know what really
happens once you set up one of these identity theft
protections.
So, we asked.
To help expose less-obvious drawbacks
and benefits of credit-monitoring services, credit freezes
and fraud alerts, we queried our newsletter subscribers
about their experiences using them.
Not surprisingly, some readers related
tales of woe, while others expressed satisfaction.
What works best?
To each his own
Consumer advocates and credit bureaus push different
advice to consumers concerned about identity theft.
One side makes credit freezes sound like the Goliath
of identity theft protections, while the other trumpets
credit monitoring services as the answer to fraud worries
and advises consumers to raise fraud alerts only if
they suspect identity theft. All three credit report
protections come with their benefits and drawbacks,
including cost differences, convenience and prevention
factors.
Ultimately,
the usefulness of credit freezes, fraud alerts or credit monitoring depends on
the consumer. Some people want an alarm system, some need a gated community. Presented
below, according to category, the following stories should help illuminate the
confusing world of fraud alerts, credit freezes and credit monitoring.
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Readers' stories: | |
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