Are Identity Theft Protection Services The Real Scam?
from the mixed-incentives... dept
As identity theft has grown over the past few years, it's often recommended that people sign up for some sort of identity theft protection offering - which are usually offered by the big credit bureaus themselves. However, because of this, some are beginning to believe that the identity theft protection services are the real scam. After all, the credit bureaus now have more incentive to make you worried about identity theft, so you'll pay for these services, which can often run about $100/year. And what do you get for that $100? You get to do their job of preventing fraudulent credit information from appearing on your credit report. They're basically making you pay to check over your own record to make sure that they haven't screwed it up.