IdentityIQ Review 2022: Is It Worth It?

GOBankingRates Score

4.0
Quick Take: IdentityIQ is an excellent option for identity theft protection and offers services at some of the lowest rates. Customers can receive regular updates for credit monitoring and will be alerted if any malicious or irregular activity occurs that is related to their personal information.
  • Features
    4.0
  • Cost
    4.6
  • Comparisons
    4.0
  • Accessibility
    3.4
How did we calculate this?

Pros

  • Cheaper than competitors
  • Customizable plans
  • Integrated with all credit bureaus in the U.S.
  • One of the best credit score tracking and reporting solutions

Cons

  • No app
  • No 401k and investment account monitoring

IdentityIQ Overview

IdentityIQ is a solution for protecting one of the most valuable intangible assets consumers have: their identity. The company was founded in 2009 and serves the need for identity theft and credit protection. 

Identity Theft Problems

Identity theft is prevalent in the U.S., with 25% of the population claiming they have been affected at some point. With the rise of the web, the need for cybersecurity solutions has only increased. 

Cybercrime costs billions of dollars worth of damages every single year. In 2021, consumers are estimated to have suffered $5.8 billion in losses from fraud alone — a 70% increase from the previous year. Almost 3 million people filed claims in the calendar year, roughly averaging a $500 loss, and experts expect the conditions to worsen considerably over time.

There’s no end to the methods used by cybercriminals to steal precious data and information from unknowing consumers. The most common problems consumers face right now include:

  1. Malware
  2. Phishing attacks by email
  3. Phone scams
  4. Data breaches
  5. Social Security fraud

IdentityIQ is at the forefront of the industry for consumers in need of assistance. The solutions it offers for these problems are detailed below. 

Features

Here are some key features that IdentityIQ plans offer.

Identity Theft Insurance

Just like any other insurance policy, identity theft insurance protects customers from losses arising from associated risks. Other policies such as home and renters insurance will usually cover credit card or cash losses up to a certain amount, but IdentityIQ’s identity theft insurance goes the whole nine yards. 

This coverage offers protection of up to $1 million for a number of common damages, including:

  • Lost wages
  • Legal fees
  • Reimbursement of stolen funds

Identity Restoration

Identity Restoration is an IdentityIQ service that aims to solve identity theft issues when the telltale signs begin to appear. Customers get an assigned U.S.-based case manager to assist in problem-solving and help in the step-by-step process of restoring their identities.

Secure VPN Browsing

Bitdefender Premium VPN is a secure browsing service provided by IdentityIQ. It operates 1,300 servers worldwide that encrypt all of a customer’s web traffic. 

As a result, users can securely surf the web and download files. It has compatibility with macOS, iOS, Android and Windows devices. Other benefits include:

  • Anonymity
  • No traffic logs
  • Use on up to 10 devices

Antivirus Security 

IdentityIQ’s integrated Bitdefender Total Security combats software exploitations to keep data safe. It shields users from viruses, unwanted emails, ransomware, spyware and malware that can cause devices to slow down or stop working properly. 

The sophistication of Bitdefender includes:

  • Threat identification and protection
  • Preventing difficult-to-detect breaches such as zero-day attacks
  • Multi-layer ransomware
  • Parental controls
  • Little to no impact on speed and performance
  • Available on up to 10 devices

Credit Reporting and Credit Scores

IdentityIQ gives users up to 12 credit reports per year from either just one credit bureau or all of them. The company believes analyzing reports for suspicious transactions is crucial to pinpointing discrepancies and catching on to possible breaches early.

Credit Monitoring and Enhanced Credit Protection

Additionally, IdentityIQ provides credit monitoring. This feature checks to see if any unauthorized changes have been made to personal information, credit or loan statuses, delinquencies, new inquiries and public records.

Users can also get Enhanced Credit Protection monitoring as an add-on. This feature will alert the customer if a new user has been added to a credit card or an unexpected change in credit score occurs. 

Enhanced Credit Protection makes users aware of all of the following:

  • Users authorized on cards
  • Excessive bank card limits
  • Closed trade lines
  • Collections, excluding medical
  • Increases and decreases in a collection balance
  • Lost or stolen cards
  • Charge-offs
  • Foreclosures
  • Paid collections and paid trade lines
  • Retail cards going over the limit
  • 10-point credit score increase or decrease with TransUnion

Dark Web Monitoring

The dark web is notorious for its involvement in illegal acts, in particular the rise of the Silk Road and other illicit activity. For those unaware, the dark web is basically the black market of the internet. It requires specific browsers, encrypted IP addresses and dedicated software to access. 

Since the dark web is synonymous with cybercrime, identity theft is a prevalent issue. IdentityIQ protects customers from leaks and unwanted use of their data by conducting comprehensive scans in 25 languages over the dark web.

Identity Protection

One common abuse of people’s information is someone committing crimes in the victim’s name. IdentityIQ protects customers by routinely performing scans on most-wanted lists and national criminal databases, searching for arrest and conviction records. It traces Social Security numbers to ensure they are linked with the correct details. When unknown addresses are associated with a user’s information, IdentityIQ contacts the customer.

Application Monitoring

Application Monitoring fortifies user security by identifying where new loans, bills or credit applications have been made in a customer’s name. It helps isolate incidents and solve them faster. 

Family Protection

Family Protection stretches benefits across to partners and children. An additional $25,000 protection guarantee is included for family members aged 24 and under who are living in the same residence. Family Protection is only available with the Secure Max Plan. 

Cost

IdentityIQ operates using a subscription-based model. It has a four-tiered structure, with its basic product starting at $6.99 per month and premium services for as much as $29.99 per month. There is also an option to purchase each plan on an annual basis, which saves 15% on the cost. 

The plans customers can choose from are:

  • Secure Plan
  • Secure Plus
  • Secure Pro
  • Secure Max
Product Plan Monthly Cost Annual Cost
Secure Plan $6.99 $71.30 — $5.94/month
Secure Plus $9.99 $101.90 — $8.50/month
Secure Pro $19.99 $203.90 — $16.99/month
Secure Max $29.99 $305.90 — $25.50/month

Antivirus and VPN protection have to be added to the bundle chosen at checkout. For the Secure Plan and the Secure Plus options, this is an extra $2 per month, and for the Secure Pro and the Secure Max options, it is an extra $3 per month.

Comparisons

It’s relevant to consider exactly what plan is suited to an individual’s needs for IdentityIQ. All plans include the following: 

  • $1 million stolen funds reimbursement
  • ID restoration in the U.S.
  • Mail and call opt-out
  • Checking account reports
  • Lost wallet assistance
  • Address changes
  • File-sharing searches
  • Synthetic ID protection
  • Social Security number alerts
  • Application Monitoring
  • Personal expense compensation
  • Legal costs
  • Dark web monitoring
  • Password manager for Windows
  • Parental controls
  • Anonymity online

The premium tiers also include the following benefits.

Coverage Secure Plus Secure Pro Secure Max
1-bureau credit reporting and scoring Annual
3-bureau credit reporting and scoring Bi-annual Monthly
Enhanced credit report monitoring X X
Criminal activity alerts X X
Credit score tracker X X
Fraud protection X
Fraud restoration X

Secure Plan

This plan covers all basic security needs for identity theft protection and is the most affordable. 

Secure Plus

Secure Plus gives the additional benefit of delivering annual credit reports and scores. This may be useful for some people, but it may not be justifiable in terms of price for the majority of consumers.

Secure Pro

Secure Pro adds an extra layer of protection. It’s well-suited for individuals with complex financial situations who are regularly making transactions.

Secure Max

Secure Max is the IdentityIQ gold standard and comes with the benefit of Family Protection. As IdentityIQ’s best-in-class product, this option is suited for consumers managing several accounts and multiple credit or debit cards. For individuals transacting regularly, both online and offline, it will spot any irregularities to address any potential losses.

Accessibility

IdentityIQ is available for the millions of Americans who are targeted for identity theft. However, it does not provide its services internationally as of yet.

IdentityIQ is also a web-only platform right now. As no mobile app is available, potential clients may weigh it against other, more flexible options that can manage threats from their handheld devices.

IdentityIQ vs. Competitors

The changing environment in identity theft has given rise to a crowded industry. There are several other options consumers may want to consider when stacking up what coverage is appropriate. The three competitors examined below are LifeLock, Aura and IdentityGuard. 

IdentityIQ vs. LifeLock

LifeLock by Norton is one of the most trusted identity theft solutions on the market. It has millions of customers and has a 4.4-star rating on the Apple App Store. For individuals, LifeLock provides better value, particularly for basic protection. But, as the coverage widens and family protection is added, IdentityIQ is a more comprehensive offering at a lower price.

One of the main benefits of LifeLock, however, is the app. IdentityIQ customers can only access its services on the web.

IdentityIQ vs. Aura

Aura is estimated to alert its customers to fraud four times faster than competitors. It offers a two-week trial for new customers and a 60-day money-back guarantee for dissatisfied users. It was rated the number one solution for identity theft protection for reducing unwanted spam and calls and managing threat alerts by Security.org.

Aura also monitors investment accounts, IRAs and bank accounts in addition to credit scores and reports. It is more expensive than IdentityIQ, but package deals include solid protection bonuses.

IdentityIQ vs. IdentityGuard

IdentityGuard has been in business for more than two decades and has over 47 million customers. It has been awarded recognition for its best practices for data protection and security by the Online Trust Alliance six years in a row.

IdentityGuard integrates IBM’s Watson Artificial Intelligence into its security protocol and includes extra benefits such as 401k and investment monitoring. Despite this, IdentityGuard has extremely poor App Store and Play Store ratings at 2.1 stars and 2.3 stars, respectively.

Overall, IdentityGuard is only slightly more expensive than IdentityIQ’s price point and has more to offer. But customers don’t appear to be particularly satisfied with the current app.

Final Take

With the spiraling growth of cybercrime, it’s becoming more apparent that identity theft solutions are a must-have for consumers. For those who aren’t yet willing to fork over hundreds of dollars each year for coverage, IdentityIQ fits nicely into the basic protection bracket at a reasonable price. 

While not having a functional app is a major downside, overall, IdentityIQ provides a thorough product offering that should satisfy the needs of most consumers. 

FAQ

Here are some questions people considering IdentityIQ's services often ask.
  • Is IdentityIQ.com legit?
    • Yes. IdentityIQ is accredited by the Better Business Bureau and works with Experian, TransUnion and Equifax.
  • How much does IdentityIQ cost?
    • IdentityIQ plans start at $6.99 per month for its basic package. The most comprehensive package is only $32.99 per month, with all add-ons included.
    • Customers can also save 15% when they choose to pay annually.
  • How do I cancel IdentityIQ?
    • To cancel an IdentityIQ subscription, members can contact customer support to cancel by phone or email. Customers can also log in to their online portal and cancel from there.
  • How does IdentityIQ work?
    • IdentityIQ is a service that monitors and protects consumer data. Once a customer fills in some basic information, they are kept on IdentityIQ's radar for any suspicious activity. Users are given tools for online navigation and professional support in the event of threats, breaches or damages.

Editorial Note: This content is not provided by IdentityIQ. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by IdentityIQ.

Our in-house research team and on-site financial experts work together to create content that’s accurate, impartial, and up to date. We fact-check every single statistic, quote and fact using trusted primary resources to make sure the information we provide is correct. You can learn more about GOBankingRates’ processes and standards in our editorial policy.

About the Author

David is a qualified financial advisor in the Republic of Ireland. He has a bachelor's degree in business and entrepreneurship, as well as over five years of investing experience.

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