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As one of the leading identity theft protection companies in the United States, LifeLock includes credit monitoring as part of its Ultimate Plus membership program. This review is geared specifically towards examining how robust and effective its credit report monitoring features are for those seeking to track, improve, and build their credit and credit score over time.
LifeLock attempts to pull all three credit reports from the major credit bureaus upon signup with its Ultimate Plus plan, presenting the information in an easy-to-read format for its customers. In addition to the credit reports, LifeLock provides a TransRisk score for each report with an explanation of the main factors contributing to the score. Additionally, the company provides customers with an updated TransRisk score each month based off of activity in the customer's Experian credit report, as well as alerts customers of "key changes" on the other credit reports.
LifeLock pulls credit reports from all three major credit bureaus-TransUnion, Equifax, and Experian. The company provides a TransRisk credit score for each of these reports and ongoing updates to the Experian credit report.
LifeLock offers 24/7 phone support from call centers within the United States, making it easier to reach someone when you need to.
LifeLock takes customer privacy and data protection very seriously, with a call center that prohibits agents from having access to cell phones or other means of recording customer data.
For those concerned about identity theft, LifeLock brings a lot of protective features to the table, which can be viewed under the "Feature Details" tab. A more thorough review of LifeLock as a protection service can be found here.
LifeLock does not provide customers with a "true" FICO score, which is the credit score utilized by over 90 percent of major lenders. Instead, the company gives you a VantageScore, which few, if any major lenders use. This means that the credit scores LifeLock provides you may be very different from the one your lenders see, and cannot be relied upon for determining or even approximating your actual credit standing with lenders.
On the Ultimate Plus plan, Lifelock will only provide customers with their full credit reports from all three bureaus once per year. A lot can happen in one year. Those who are committed to improving their credit would do well to monitor their full reports more often than that.
As many customers have noted, the company's advertised monthly credit refreshes are only for one of those three credit reports, Experian, and do not include the report itself, only a VantageScore credit score which, as mentioned before, isn't all that useful in determining your actual credit standing with most lenders.
LifeLock obtains credit reports from AnnualCreditReport.com, where, by federal law, anyone can pull their own credit reports for free once per year. This means that if you've recently pulled your own credit reports from that site, LifeLock will be unable to pull them for you into your account.
When you take into account the above factors, providing the customer with three reports a year and no true FICO scores, $29.99 per month represents one of the worst values of any credit monitoring company we've ever reviewed. That's an effective cost of $120 per credit report per year, with no FICO score provided.
Canceling with LifeLock requires a user to call in and speak with someone over the phone whose job is to persuade the customer not to cancel. This is a hassle that we don't like to see. Additionally, no partial refunds are offered for those who cancel mid-month, which is a customer-unfriendly policy. Both of these practices are commonly employed by businesses seeking to cover for a high cancellation rate following a misleading claim.
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This service is of paramount importance as identity theft is so rampant. Love the email notifications when my credit is being accessed !
LifeLock makes it really hard to cancel service. My father-in-law died in July and my mother-in-law was placed in a nursing home and declared incompetent in August. LifeLoc won't allow me to email the death certificate and Power of Attorney to cancel their account(s). LifeLock want the documents faxed or mailed to them. It's hard enough to deal with these kind of life issues, why does LifeLock need to make it harder? Join the 21st century and allow your customers to use email like every other vendor out there! Don't do business with LifeLock!
I have been a member of life lock for 6 years now. I was a victim of fraudulent charges, my email being hacked into, etc. I made the decision to sign up with life lock, and ever since then I have not been a victim of fraud, me emails have stayed in my language and not hacked. I have my children signed up with them also. I love that I get messages asking if "this was me". I love knowing who is around me and the safety measures I should take.
Lifelock has been a lifesaver for us! My husband and I experienced an extensive attack and lifelock came to our rescue. They disputed all fraudulent charges, and swatted away every attempt made against us for illegal credit card applications. We will be forever grateful!
You missed the boat. Someone opened a bank account in my name and was caught by the fraud department of the bank involved. Luckily they contacted me before any large amount of damage was done.
Recently my American Express card was both cancelled and re-issued fraudulently ( to the tune of $21,000) and your service seems to not know about that nor did you contact me. So - that does not impress me. I thought you were the best. I am disappointed and also, quite frankly, totally non-plussed as to why you did not spot this.
Just yesterday, May 5, my bank called and they said their computer flagged a payout that someone had used my bank card for a charge of 91.00. I was lucky it wasn't 9100.00! But the fact is the bank caught it and not Lifelock. Is that good?
I have been very pleased with the service. I have only had to call them once/twice but found them to be very clear when I asked them questions.
I don't know whether I was hacked or not - but when Anthem/Blue Cross failed to provide security for its customers, I got worried. While others frantically contacted the various credit companies, I just called Lifelock - and was assured that my identity was protected. They continued to do this as weeks passed and - when I applied for a lease to buy a new Subaru after mine was totaled - I was immediately told by Lifelock that my credit was being checked. I feel secure with Lifelock.
While I feel protected, I can't not write a review and not call out the unintelligent way in which I am alerted constantly about financial activity. For example, when my payroll check is automatically deposited into my account I receive an alert. If I buy something I receive an alert, far too many emails are being sent that are only forcing me to tune out the message, which is unfortunate because I was hoping for something that would have better processes built into the system for when it launches alerts.
I recently was notified by my credit union that my debit card had been compromised. There was one unauthorized use and an additional attempt. This was never picked up by LifeLock. Not before, during or after. Bummed!
They call us every time there is a hit on our credit. They are really on top of things.
All the hype is unwarranted. I had great expectations but found very little services that are useful. First, I was told by their salesperson on the phone that I would get all 3 credit services and that I would get monthly updates and could view my reports any time. The truth is that while you get monthly updates, those updates are ONLY for ONE of the credit agencies. The other two are only as of the date you pay them, meaning you only get them once a year (which you can get for free directly from the credit bureau on an annual basis, anyway). I also was told that I would get immediate notifications of any activity over the threshhold settings you set for in advance with them (e.g., if you tell them to notifiy you of credit card charges or banking activity in excess of $200, they will notify you of any activity in the accounts you include in your profile when that amount is exceeded. Amounts less that that are ignored). The problem is that I have NEVER been notified in a timely fashion, which to me means that it is immediate, just like they show in their infomercials. The earliest notification I have ever received has been at least 24 hours after the incident, sometimes longer. A lot of damage can be done in 24 hours. In fact, it appears that they don't work on weekends. More often than not, if I make a charge at Walmart for an amount over the threshhold on a Saturday, the earliest I receive notification of the transaction is Tuesday of the following week! This is useful? If you are like me and check your bank accounts online every day or other day, you are wasting your money with this service. Perhaps it may be helpful if someone opens a new account in your name, but somehow I find that unlikely. This seems especially so since they only review accounts for which you have provided them with the account number. A new account would not appear on their records.
I have had one call about a credit card I opened. LifeLock was checking to be sure I had made this transaction. It is a good feeling to know someone is looking out for my interests.
I applied for a new credit card to transfer my balances for a )% interest and life lock called right away Thank you for making sure I was the one who did this.
I've been a member of LifeLock for a little ofer a year now - I've opened two credit cards, managed some other accounts and I've received nothing that anything was ever happening on my account. Nothing.
Your FICO Scores do not match the official ones published by the 3 Credit Bureaus. In fact my Bureau Scores are all over 800, where the ones you publish for me 2 are under 800 and one is over 800. I wish your scores matched the Bureaus scores better.
Life lock has been amazing. So grateful to have there help monitoring my credit. They have been on top of all the fraudulent activities that have occurred this past year.
My existing home loan was refinanced and a new credit card was approved while I received no notice from LifeLock regarding this activity.
Quite Disappointed in the delay between when suspect transaction is made and notification is sent. Time delay is a few days or longer.
I just recently bought a New Truck it was a great feeling to know by who and when my Credit was being Checked ,you Guys are the Best at what you do I will refer you to as many family and friends that I can ..Your Text and Phone Notifications are Great. Thank You!!!!
Ii am very pleased to have Lifelock keeping a check on my credit. They have notified of any changes to me credit history. I have recommended them to my friends Nd will continue to do so. Thank you for a great job
I signed up last week. Haven't had to use it, but just having it makes me sleep better at night. ;) Will update.
I have yet to find a better product for monitoring my credit. Not sure why they push their ID theft so hard, their credit monitoring is a huge selling point.
I've had the service for a few years, I've never had a problem with it. In fact, I really like the online Command Center because you can see if there is any public information about you floating around and it tells you if a sex offender moves into your neighborhood. My only complaint about the service would be that you can't see your credit reports or scores now in real time.
Got a change of address in the mail that I did NOT issue, and was being frauded for gold coins! What?! not anymore.
Ok, so I finally bit the bullet and signed up for Lifelock after comparing like 5 different identity theft services. I have to say that I am impressed with Lifelock Ultimate. Not only did I get to see my 3 credit bureau reports right away, but in my lifelock dashboard I can see everything that's going on with my account. Hopefully, I won't have to use this service, ya know, but i really think I made the right choice over the other companies, although Trusted Id would have saved me a couple bucks and seemed pretty good too.