WARNING [Updated October 2015]: DO NOT SIGN UP WITHOUT READING THIS FIRST!
As of October 2015, they have changed to offer protection services under the CSID brand; they are no longer affiliated with Identity Guard at all. Your Costco card now gains you access to even cheaper coverage, read our review of Costco’s ID Protect via CSID!
Below is our original review talking about how great Costco’s Identity Guard plan is, but this was before the provider change. Please keep in mind: the comments below do not apply to their CSID sponsored coverage offer. You can read our review of their new plan here.
Our Original Costco Identity Guard Review
Did you know that Costco offers it’s members credit monitoring and identity theft protection services at a discount? That’s right, Costco members save as much as 50% when signing up for Identity Guard’s Total Protection plan.
With that said, there are dozens of big-name issuers of credit monitoring and identity theft coverage. You can find these service through many banks and financial institutions. Even Equifax, one of the three major credit bureaus, offers paid protection.
So, what really makes Costco’s Identity Guard services better?
- Heavy discount on monthly costs vs. Lifelock, which can run as much as $29.99 a month.
- Stronger review history than just about every other credit and identity monitoring program around.
- Comprehensive coverage that won’t leave you paying out of pocket, thanks to the whopping $1 million in identity theft insurance.
A Quick Review of Identity Guard Costco’s Total Protection
Costco’s Total Protection plan is a form of comprehensive coverage. You have protection against credit fraud, identity fraud and theft, and much more. Plus, with their quality credit monitoring, you can always stay on top of your credit report.
You never have to worry about your credit report again. Costco’s Identity Guard Total Production package offers you credit reports and scores four times a year. Even better, these come from all three of the major credit bureaus – Equifax, Experian, and TransUnion.
This is a big advantage when facing Identity Guard vs Lifelock, as LifeLock’s Advantage plan only give one report and score a year. Yet, the two both cost $19.99 a month; so, with your Costco membership discount, you get a lot more for much less!
The Benefits of Costco Identity Guard’s Plan
- Credit monitoring & alerts
- $1 million identity theft insurance
- Lost wallet protection
- Victim recovery service
- Internet Surveillance
- Public record report
That’s just the start, you get everything you would need in both a credit monitoring and identity theft plan. Plus, the Costco Identity Guard app takes all the hassle out of watching your credit report and identity. You just sign in through the app’s login screen, and then you have access to everything you need to know. Set up alerts to your mobile, and you have 24/7 monitoring, so long as your phone is with you.
Is Costco’s Total Protection Plan Right For You?
You must review everything that comes with Costco’s Total Protection plan before knowing if it’s appropriate for your needs. But, most are more than satisfied with what they get for the price. The discount for Costco members is staggering, amounting to 50% off for those with Executive memberships.
An Executive member can pick up their comprehensive protection package for a mere $9.99 a month. Gold star and business members just have to pay out $13.49 a month for coverage. The amount of coverage you get is the same for each Costco membership level. As such, you could even argue a Costco membership upgrade. Executive members pay $55 more a year, but with the protection plan, that cost would drop to $13 a year. Add the 2% annual rewards factor, and you could argue that your coverage costs you nothing!
Can You Trust Costco’s Identity Theft Protection?
Identity Guard holds an A+ BBB rating.
Costco offers their protection services through a branded package under the Identity Guard name. Identity Guard first started out in 1996, and now has millions of subscribed users.
Costco offers identity theft protection that works. On top of that, you never have to worry about whether you can rely on the company if an issue comes up. They have a toll-free phone number to call, which is available from 8 a.m. to 11 p.m. EST Monday to Friday, and 9 a.m. to 6 p.m. EST on Saturday.
The use of bank-level encryption makes your login safe and secure. Further, their website is PCI-compliant, so you know your payment information is safe. Even when the Heartbleed bug compromised many popular websites, Identity Guard’s member pool remained unaffected. Their annual SSL license alone exceeds $1,000 for a single year of certification. Further, when requesting sensitive information, they often just ask for the last four digits or letters.
Are There Any Costco Identity Guard Complaints?
While it’s rare to hear of complaints from Costco members who have used this service, it’s also true that a company cannot ever satisfy 100% of it’s users. So, it’s always a good idea for interested Costco members to first run the free trial. That way, you know what to expect before you do dish out the $9.99 a month for your subscription.