Discover Identity Theft Protection: Is it Right for You?
If you’re a current Discover cardholder seeking identity theft protection, Discover’s service provides a convenient and affordable option. Offering basic coverage, including up to $1 million in identity theft insurance and the ability to add up to 10 children to your plan, it’s a compelling choice for some. However, it lacks some features offered by competitors. Let’s dive into a comprehensive review to determine if Discover’s identity theft protection aligns with your needs.
Key Takeaways
- Discover offers affordable identity theft insurance, starting at $15 per month.
- Children are covered at no extra cost, up to 10.
- It includes three-bureau credit monitoring.
Our Verdict: Discover is a solid choice if you’re an existing cardholder looking for basic coverage for yourself and multiple children. The price is competitive, and the reporting offered is valuable. However, for more comprehensive protection, including social media monitoring and credit locking, or if you aren’t a Discover cardholder, other services might be preferable.
What is Discover Identity Theft Protection?
Discover’s identity theft protection offers a streamlined approach to safeguarding your personal information. Here’s a snapshot of the service:
- Price: $15.00/mo
- Identity theft insurance: Up to $1 million
- Credit monitoring: Yes
- Credit score: Yes
- Identity recovery: Yes
- Dark web alerts: Yes
- Social media account alerts: No
Identity Theft Insurance
This insurance provides reimbursement of up to $1 million with a $0 deductible for expenses incurred during identity theft recovery, including:
- Lost wages: Up to $1,500 per week for up to five weeks.
- Travel expenses: $1,000.
- Elder, spousal, or child care: $2,000.
- Certified Public Accountant (CPA) costs: $1,000.
Other covered costs include:
- Costs related to denied loans, grants, or credit purchases due to identity theft.
- Notarizing documents related to identity theft.
- Ordering medical records.
- Investigative agency or private investigator costs.
- Legal and attorney fees for actions against you by a creditor or collection agency.
Credit Monitoring
Discover monitors credit daily across all three major credit bureaus – Experian, Equifax, and Transunion. You’ll receive alerts for:
- New inquiries.
- Address changes.
- New negative information (delinquencies).
- New public bankruptcy records.
- New accounts opened in your name.
The monitoring also provides alerts based on Experian data, including positive activity, like loan payoff notifications.
Identity Monitoring
Discover implements extensive monitoring features, including:
- Dark web monitoring: Alerts if your information appears on high-risk websites.
- Social Security number identity monitoring: Reports of all names, aliases, and addresses associated with your Social Security number.
- Bank account monitoring: Alerts for new bank or credit card accounts or account changes in Discover’s network.
- Address monitoring: Alerts for U.S. Postal Service address changes.
- Criminal court record monitoring: Notifications if your name appears in monitored court systems (for adults over 18).
Child Identity Protection
Up to 10 children under 18 can be enrolled at no additional charge. Discover monitors the dark web for your child’s Social Security number, medical ID number, phone number, email address, and associated financial accounts. Children are included in your $1 million identity theft insurance coverage and receive fraud resolution assistance.
How to Get Started
To enroll, start by visiting the Discover identity theft protection website. Note: You must be a Discover cardholder.
- Click the “Enroll Now” button.
- Sign in with your Discover account username and password.
- Follow the on-screen instructions to finalize setup.
Alternatives to Discover Identity Theft Protection
If you’re not a Discover cardholder or seek more comprehensive coverage, explore options like LifeLock by Norton and Aura.
FAQs About Discover Identity Theft Protection
Is it worth it to pay for identity theft protection?
Yes, especially if you’re at risk or prefer not to actively monitor your data. It offers peace of mind and streamlines recovery if identity theft occurs.
Is Discover identity theft protection any good?
For Discover cardholders, it’s a convenient add-on. Those seeking more extensive coverage may find other services to be a better fit.
Who does Discover use for identity theft protection?
Discover utilizes Experian, providing three-bureau credit monitoring and additional identity monitoring services.
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Conclusion
Discover’s identity theft protection is a cost-effective option for existing cardholders looking for basic coverage. However, consider alternatives like LifeLock or Aura for more comprehensive features and broader accessibility.
