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.
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Rank Chart
Price
Reports Available
Our Score
#1
$19.95 - 29.95
3/3
8.3
#2
Free
2/3
7.4
#3
$19.95
Up to 3/3
7.2
#12
lifelock reviews
$19.99 - 29.99
3/3
6.0

The Good

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, they provide customers with an updated TransRisk score each month based off of activity in the customer’s Experian credit report as well as alerting them to “key changes” on the other credit reports. They’re easy to reach by phone and maintain state-of-the-art security on the data they hold.

A quick breakdown of the positives:

3B Reporting – Lifelock pulls credit reports from all three major credit bureaus – TransUnion, Equifax, and Experian. They provide a TransRisk credit score for each of these reports and ongoing updates to the Experian credit report.

Customer Service Hours – LifeLock offers 24/7 phone support from call centers within the United States, making it easier to reach someone when you need to.

Information Security – They take 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.

Identity Theft Protection – 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.

The Bad

While it may be a good identity theft protection company, the credit monitoring and reporting options provided by LifeLock are limited by not providing useful credit scores, very infrequent report refreshes, and reliance upon federally mandated free reports that anyone can pull on their own, for free. A breakdown of the bad:

Non-standard Credit Scores – LifeLock does not provide customers with a “true” FICO score, the credit score utilized by over 90% of major lenders. Instead they give you the much less common TransRisk score, 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.

Poor Credit Report Refresh Rate – 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, their advertised monthly credit refreshes are only for one of those three credit reports, Experian, and do not include the report itself, only a TransRisk credit score which, as mentioned before, isn’t all that useful in determining your actual credit standing with most lenders.

Reliance on Free Credit Reports – 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.

Price – When you take into account the above factors, providing the customer with three reports a year and no true FICO scores, $29.99/mnth 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 true score provided.

Lawsuits – At time of writing, LifeLock is embroiled in two separate lawsuits, one with the FTC for misleading consumers, and one with its former Chief Information Security officer who claims he was fired after objecting to the company cutting costs by reducing the number of alerts sent to their customers.

Both of these lawsuits are quite serious, and litigation of this nature is both costly and may be indicative of something unhealthy in the underlying business.

Cancellation Policy – 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 we don’t like to see at TBC. 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.

The Bottom Line

Although it has a well-deserved reputation for ID theft protection and, as previously mentioned, we may recommend it for those seeking to guard against fraud, LifeLock’s relative lack of updated credit reports, price, and complete absence of true FICO scores make it a poor value for those who are simply seeking to monitor their credit scores, reports, and improve their overall credit health.

Identity Theft Protection

LifeLock offers extensive identity protection which includes:

  • LifeLock Identity Alert® System
  • Lost Wallet Protection
  • Address Change Verification
  • Reduced Pre-Approved Credit Card Offers
  • Black Market Website Surveillance
  • Live Member Service 24/7/365
  • $1 Million Total Service Guarantee
  • Fictitious Identity Monitoring
  • Court Records Scanning
  • Data Breach Notifications
  • Credit Card, Checking and Savings Account Activity Alerts
  • Investment Account Activity Alerts
  • Checking and Savings Account Application Alerts
  • Bank Account Takeover Alerts
  • Credit Inquiry Activity
  • File-Sharing Network Searches
  • Sex Offender Registry Reports

The features above are not necessarily included in all levels of membership.  To see which features are exclusive to which plans, visit: http://www.lifelock.com/

LifeLock offers two packages that include credit monitoring services:

LifeLock Advantage ($19.99/month)

  • Online Annual Credit Report: Access to annual credit reports from all three primary bureaus to help users understand the details of their creditworthiness
  • Online Annual Credit Score: Access to annual TransRisk scores based on the contents of each annual credit report.

LifeLock Ultimate Plus ($29.99/month)

  • All of the Credit Monitoring Features of the Advantage Package
  • Credit Inquiry Alerts: Issues alerts for inquiries made against your credit file.
  • Monthly Credit Score Tracking: Single-bureau credit score tracking (Experian) each month to help customers identify important changes. Credit Score provided is a TransRisk score which is not used by most lenders.

Are there any inaccuracies in this review? We take our accuracy very seriously and would love your feedback. Give feedback here.

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24 LifeLock Reviews

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  1. User Score

    10

    May 8th, 2015 Pleasant Grove, UT

    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!

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  2. User Score

    1

    May 7th, 2015 Pleasant Grove, UT

    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.

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  3. User Score

    2

    May 7th, 2015 Pleasant Grove, UT

    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.

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  4. User Score

    6

    May 6th, 2015 Pleasant Grove, UT

    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?

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  5. User Score

    10

    May 6th, 2015 Pleasant Grove, UT

    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.

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    1

  6. User Score

    10

    May 6th, 2015 Pleasant Grove, UT

    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.

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    1

  7. User Score

    4

    May 4th, 2015 Pleasant Grove, UT

    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.

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  8. User Score

    4

    May 1st, 2015 Pleasant Grove, UT

    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!

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  9. User Score

    10

    April 30th, 2015 Pleasant Grove, UT

    They call us every time there is a hit on our credit. They are really on top of things.

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    1

  10. User Score

    1

    April 30th, 2015 Pleasant Grove, UT

    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.

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    1

  11. User Score

    10

    April 28th, 2015 Pleasant Grove, UT

    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.

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    1

  12. User Score

    10

    April 28th, 2015 Pleasant Grove, UT

    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.

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    1

  13. User Score

    6

    April 28th, 2015 Pleasant Grove, UT

    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.

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  14. User Score

    9

    April 26th, 2015 Saratoga Springs, UT

    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.

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    2

  15. User Score

    10

    April 26th, 2015 Saratoga Springs, UT

    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.

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    2

  16. User Score

    1

    April 26th, 2015 Saratoga Springs, UT

    My existing home loan was refinanced and a new credit card was approved while I received no notice from LifeLock regarding this activity.

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  17. User Score

    5

    April 26th, 2015 Saratoga Springs, UT

    Quite Disappointed in the delay between when suspect transaction is made and notification is sent. Time delay is a few days or longer.

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  18. User Score

    10

    April 25th, 2015 Saratoga Springs, UT

    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!!!!

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  19. User Score

    10

    April 21st, 2015 Saratoga Springs, UT

    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

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  20. User Score

    9

    September 6th, 2013 Pleasant Grove, UT

    I signed up last week. Haven’t had to use it, but just having it makes me sleep better at night. 😉 Will update.

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