Chase Identity Protection Review

Introduction

The Chase Identity Protection service is provided by the US commercial banking division of JP Morgan Chase – Chase Bank. JPMorgan Chase has its roots as one of the oldest financial institutions of the US. Its history dates back over 200 years. Currently, they are one of the leading world financial institutions with assets exceeding $2 trillion. They operate in over 60 countries with more than 240,000 employees. It is a component of the Dow Jones Industrial Average and is considered a global leader in every existing form of accounts and financial investments. Chase Identity Protection was designed to protect its customers from the devastating effects of identity theft and can be purchased in three different forms with increasing levels of protection.

Services

Premier – is the basic level of protection and provides the following services:

• Dedicated Fraud Specialist – is provided to those who have already become a victim of identity theft. A dedicated advisor is assigned to assist with understanding issues pertaining to the victim’s credit report. They will also help with the more complex issues of reporting and resolution.

• 3-Bureau Credit Monitoring – provides monitoring of activity within the credit file and will send out alerts of all new activity. This can prevent fraudulent use of credit.

• Credit Card (Chase) Alerts – will monitor for any suspicious activity on all Chase credit cards. Customers may set up unique spending habit parameters in order to assist with this.

• $100,000 Expense Reimbursement for Identity Fraud – up to $100,000 may be reimbursed for expenses that are connected with identity restoration.

• Monthly Summary – a notification is sent every 30 days in order for the subscriber to review alerts as well as track financial progress and customer information on file.

• Initial 3-Bureau Credit Report – a one-time customer access to all 3 credit report agencies (Experian, Equifax and TransUnion). Credit scores are also provided.

Enhanced is the next level of protection and includes all the services provided in the Premier level but with these additions:

• 3-Bureau Credit Report Provided Monthly – a monthly updated credit report may be requested from the three credit reporting agencies (Experian, Equifax and TransUnion).

• Monthly Comprehensive Credit Scores – provides current credit scores based on the three credit reports. This can be used to determine credit worthiness prior to any credit applications.

• Credit Score Estimator – an interactive tool that can be accessed online. This can assist with understanding how one’s credit score can be affected by certain activities such as missed payments, credit applications, etc.

• Credit Application Monitoring – provides updates on all credit applications made in the subscriber’s name in order to check for validity.

• Lost Wallet Protection – stores personal information in a secure location. In case of a stolen wallet, information can be restored and the necessary financial institutions contacted.

• ID Risk Assessment – an estimation of the potential risk for identity theft is provided. This estimation is based on activity that can be connected with the subscriber’s personal information.

Elite is the highest level of protection and includes all the services provided in the Premier and Enhanced levels but with these additions:

• Internet Surveillance – alerts will be sent should personal information be found in an unsecure internet location.
• Public Records Monitoring – alerts will be sent if a new public record is created in the subscriber’s name or if an existing public record has been changed. This includes licenses, court records and registrations.

Pricing and Cancellations

Pricing for the levels of Chase identity Theft Coverage are, as follows:
$7.99 per month – Premier
$11.99 per month – Enhanced
14.99 per month – Elite
The current month fee will be reimbursed upon service cancellation.