lifelock vs identity guard

Citi is one of the biggest banks in the world and boasts over 200 years of experience in the industry. With offices in 1,000 cities and serving over 160 countries, Citi knows just what it means to have good credit.

Clients that have used Citi in the past know just how reliable the company is and how helpful they can be. Identity Monitor is a new offering from Citi that provides the utmost in security so that your identity is never stolen.

Defining Identity Theft

Identity Monitor

When you think of identity theft, you probably think of mortgage loans or credit cards that have been taken out in your name without your consent.

This is almost the precise definition of identity theft.

Credit monitoring will define identity theft as the acquisition of a person’s private information that is used for financial gain.

Since credit history logs every last loan or credit card taken out in a person’s name, this is often the first indication that theft has occurred.

True Credit Analysis by Identity Monitor

Citi offers the best credit analysis possible. Instead of pulling just one credit report to analyze, this monitoring program will pull all three credit bureau reports for an in-depth analysis of your credit history. Reports will be pulled from:

  • Equifax
  • Experian
  • Transunion

Report generation is done in a very organized manner so that you can quickly view lenders and all three reports side by side. For instance, your Citi credit card will have its own report with each credit bureau listed. The information presented will include:

  • Credit type
  • Account number
  • Date that the account was opened
  • Ownership type
  • Date of the last balance
  • Monthly payment amounts
  • Limits
  • Status of the account
  • Past due amounts and prior delinquencies

All of this information allows you to easily monitor your credit and receive a true credit history that is thorough and complete.

In-depth Credit Information

There is quite a lot of information provided that goes beyond open lines of credit. This information includes:

  • Public records
  • Collection items
  • Your personal information
  • Inquiries into your credit history
  • Contact information of your creditors

All of this information is not just to ensure that your identity hasn’t been stolen, but the contact information and inquiries can help you pinpoint potential identity theft and allow you to remedy the problem quickly.

Identity Theft Insurance

identity theft insurance

One of the biggest assets provided through Identity Monitor is the identity theft insurance provided. To keep your credit secure, you will endure a long process that is very costly. Even hiring a company to work through identity theft can cost thousands to tens of thousands of dollars in complex cases.

Identity theft insurance provided through this monitoring program includes reimbursement of the following amounts:

  • $0 in Florida
  • $10,000 in AK, HI, NY, OH, PA and WA
  • $25,000 in all other states

This will cover your expenses, up to the limit, for any losses that have occurred as a result of identity theft. The limit is only enforced within a 12 month period.

There is also lost wage coverage included that lasts up to four weeks with a maximum payment of $500 per week.

Credit Scores

Credit scores are provided, but they are not the normal FICO scores that lenders use. This is very confusing at first, but it is meant for identity protection and analysis, not credit score accuracy.

If you want an accurate assessment of your credit score, you will need to pull a report that includes the standard FICO scoring of 300 – 850. However, the scores provided are very close to your FICO score and do give a good indication about your credit standing.

Benefits Included

There are a plethora of benefits included within Citi IdentityMonitor. These benefits include:

  • Full credit monitoring
  • Alerts when any changes have been found on your credit history
  • 24/7 access to your report and score online
  • Credit scores from all 3 credit bureaus
  • Fraud and credit specialists that are available to help you for free
  • Immediate help if identity theft has occurred
  • Identity theft reimbursement

Easy Setup

If you want to have credit and identity monitoring, there is very minimal information required. The complete signup profess takes just seconds:

  • You will need a Citi account.
  • You will need your social security number.
  • You will need your date of birth.

There is usually a 30 day trial and a charge of $1. The normal service comes at a cost of $8.95 and cancelling can only be done by calling the customer service number.

Once you fill out the basics, there will be 5 questions asked before a username and password can be created. This information will include both financial and personal questions that only the person who is having their identity monitored should know.

After everything is complete, you will have full access to your credit report, scores, analyzer, insurance and specialists as well as a set of financial tools.

Identity Monitor is the perfect balance between ease-of-use and affordability

For only $8.95 a month, it is almost impossible to pass up this monitoring program due to the immense features and reimbursement options offered. If you are series about protecting your identity, Citi has one of the best monitoring options on the market today.