United Services Automobile Association (USAA) is an insurance company that was founded by 25 army officers in San Antonio, Texas, in 1922. The privately-held company offers its services exclusively to former and current members of the military and their families. USAA has over 11 million members and approximately $213 billion owned or managed assets.
USAA offers three different identity theft protection plans for individuals and families. One plan is free, one costs $7.95 per month, and one costs $12.95 per month. These plans feature credit reports and scores, dedicated fraud support services, and more.
USAA's free plan offers daily credit monitoring and alerts with Experian. The company's higher-tiered plans provide monitoring from all three major credit bureaus: Experian, TransUnion, and Equifax.
Customers must either be a military member or the relative of a military member in order to sign up for USAA's services.
USAA states that it provides identity theft protection expense reimbursement policies to members; however, the company has not disclosed the exact coverage amount. It is also unclear how much the company will reimburse identity theft victims for lost wages and other expenses.
Luckily, I’ve never had to use the service. It was easy to sign up for with the USAA customer service rep. It was nice knowing I had the protection there.
This article is dated or the author is simply uninformed. USAA clearly discloses that they cover up to a million dollars for identify theft related expenses. Please get your facts straight before bashing their service. We've had this service for almost two years and love the peace of mind it offers. We get alerts any time our identities are used for anything (even if it's us applying for something... opening a new bank account for example). It seems extremely robust and reliable, like most USAA products. Fortunately we've never had to file a claim for identity theft.
The $7.95 per month plan includes daily monitoring of Experian, Transunion and Equifax credit reports, not just Experian. The only difference between the $7.95 and $12.95 per month plan is that the $12.95 plan provides monthly credit reports from all three bureaus whereas the $7.95 plan only provides a monthly Experian report. I am on the $7.95 plan because I can get my Transunion and Equifax reports for free on Credit Karma. The service is provided through Experian and is essentially the same service provided by Protectmyid at half the cost. For credit monitoring and ID protection with a million dollars in insurance this is an excellent value.
Experian charged every credit card I listed for 101.36 and when I challenged them they would not explain or return my emails. I would say that is Claud as never allowed them to use one card and they over charged the USAA price, Ian still trying to discuss with them no luck, I they are this dishonest how can they monitor my accounts!