TrustedID is an identity protection service offered by Equifax, one of the three major credit reporting agencies in the United States. The service aims to help individuals safeguard their personal information and monitor their credit for any suspicious activity or signs of identity theft.
Key features of TrustedID typically include:
- Credit Monitoring: TrustedID monitors your credit reports from all three major credit bureaus—Equifax, Experian, and TransUnion—and alerts you to any significant changes, such as new accounts opened in your name or inquiries into your credit history.
- Identity Theft Protection: It provides identity theft protection by monitoring various sources, including the internet and dark web, for signs that your personal information is being bought, sold, or traded illegally.
- Credit Locking/Freezing: TrustedID may offer the ability to lock or freeze your credit reports, which can prevent unauthorized parties from accessing your credit information and opening new accounts in your name.
- Fraud Resolution Assistance: If you become a victim of identity theft, TrustedID typically provides assistance in resolving the issue, including helping you dispute fraudulent charges and restore your credit history.
- Identity Theft Insurance: Some versions of TrustedID may offer identity theft insurance, which can provide financial protection in case you incur losses as a result of identity theft, such as legal fees or funds stolen from your accounts.
It’s worth noting that Equifax faced a significant data breach in 2017, which exposed the personal information of millions of individuals. As a result, Equifax and other credit reporting agencies have faced scrutiny regarding their data security practices, which may impact perceptions of services like TrustedID. Consumers should carefully review the terms and conditions of any identity protection service to understand what protections are offered and any limitations or exclusions that may apply.