A credit report contains private information collected and maintained by credit reporting agencies. According to fair credit reporting laws, only people or organizations you authorize can legally access your credit report. Despite this law, in 2009, 11.1 million adults became victims of identity theft, according to Credit Cards. Organizations such as Privacy Guard help you monitor your credit and protect private information.
Identification
Privacy Guard is a web-based business that provides credit reporting, credit monitoring and identity theft prevention services. In addition to fee-based services, the company also provides free educational resources on preventing identity theft. Privacy Guard is a subsidiary of the Trilegiant Corporation, a membership-based service provider located in Norwalk, Connecticut. Trilegiant also operates under the name Affinion Publishing, LLC. Services are available from the company website and through partnerships established with financial institutions such as US Bank.
Services
Privacy Guard offers credit, identity and life services as a package deal. Credit services include one free credit report and credit score from each of the three main credit reporting bureaus--TransUnion, Experian and Equifax--along with a "what-if" simulator that shows you the effect things like paying off a loan or being 30 days late on a payment will have on your credit rating. Additional credit services include daily, single-agency credit monitoring and a quarterly, single-agency "all-clear" notice. Identity services include fraud support services to help you if you become a victim of identity theft, $10,000 of identity theft insurance, a Social Security benefits report and a Medical information Bureau file, if one exists. Life services include a variety of calculators, a copy of your driving record, and a credit card and document registration service.
Features
Services are available immediately after enrolling, and you can request a new credit report once every 30 days. If you discover errors or inaccuracies, Privacy Guard cannot file a dispute on your behalf but does provide dispute forms and assistance to fill them out and file a dispute. Educational items feature an Identify Theft quiz designed to test your knowledge of identity theft facts and statistics. Additional educational items include tips for lowering your risk of falling victim to identity theft, and a newsletter that covers topics such as protecting your home and finances and securing personal information.
Membership
Enrolling in Privacy Guard requires a debit or credit card and automatic monthly billing. You can join for the first month at a reduced rate; after that, current fees apply and membership is automatic unless you call and cancel. You cannot cancel your membership from the company website. Privacy Guard reserves the right to modify member services, as well as membership terms and conditions at any time without prior notice.
Considerations
The Consumer Defense Resource Group (CDRG) completed a five-year study of Privacy Guard in 2009 and determined the company does provide accurate and comprehensive credit reporting and monitoring services. The CDRG created and canceled several accounts and encountered no difficulty or heavy persuasion to keep the account active. One inconvenience they did encounter relates to changing the payment method: If you want to use a different credit or debit card, you must cancel your account and establish a new account with the alternate card.
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