Discover has a new free alert service available to Discover cardholders on an opt-in basis. I must have missed the initial announcement. This is not complete identity protection (which usually costs a monthly fee of $10 or more) but the following subset:
- Social Security Number Monitoring. Discover scans the internet including the “dark web” where stolen SSNs are often traded and sold for the purposes of identity theft and fraud. If your SSN is found, you will receive an alert.
- New Account Alerts. Whenever a new account (credit cards, mortgages, car loans or other credit accounts) is reported on your Experian credit report, you will receive a notification. If you don’t recognize the new account, that can be an indication of identity theft.
You must authorize Discover to access your credit report, but since they are doing so on your behalf, this will not affect your credit score in any way. Opt-in and activate these alerts here. You can choose e-mail and/or text alerts. Deactivate here.
Bottom line. If you are a Discover cardholder, this is a free service that alerts you to new accounts and thus potential identity theft. I keep my Discover it card open for its rotating 5% cash back rewards.