bikermike

Seems like all the cards out there offer them if you pay. Just curious who actually buys them and if they ever had to actually use them for a stolen identity? I was thinking about signing up for one but it just doesn't sound like it's really worth. What do they do besides call your other card companies to report it's stolen? Do they do anything else that is useful? Because if all the do is freeze your accounts we all can do that with a simple phone call. No point in paying $5 to $10 a month for that.

Mogul of Pineapples

I think they do more than just freeze and cancel your cards but I've never used those services so I can't tell you exactly. At $8 a month you're looking at paying around a $100 a year and let's say you have an identity problem every 3 years = $300 per ID theft incident. Would you pay someone $300 to make all those phone calls or would you do it yourself?

I'd rather do it myself but I'm sure for some people, especially elderly that may not be too keen on how to handle those situations, it could be worth the price.

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magyar1045

Personally I think that all these insurance "offers" for ID theft protection are just money making deals for insurance companies. They got whacked just after Katrina, and other natural disaster events.

fffresh

I really don't see much upside in these services either. I understand why people would do the ID theft offers but the one that really puzzles me is that so called payment protection plans where they charge around 1% of all your charges you make. They claim if you become unemployed they'll make the minimum payments for you for a short time like 3 months or something. Then if you die they'll wipe your balance up to $10,000. That flimsy protection isn't warranted by that heavy of fees.