LendingTree Academy

LendingTree launches free ID protection feature

Written by

Jonathan McFadden

Posted

March 31, 2020

LendingTree is getting even more serious about your financial health by offering customers a free identity monitoring service.

The new feature, which is now available on our financial wellness dashboard My LendingTree, alerts you any time your email address shows up online as a result of a data breach. You’ll also get recommendations on what you should do if we discover your personal information has been stolen or compromised. Go to My LendingTree’s ID monitoring page to see if any of your data’s ever been compromised.

We’re offering the service in partnership with MyIDCare, which specializes in safeguarding consumers against online threats and data breaches. Here’s what else you should know.

What’s so great about My LendingTree? 

My LendingTree is a financial wellness one-stop shop where you can see and monitor your credit, identify savings, find your best deals on loans and dispute incorrect information on your credit report.

We like to think of it as a smart way for our customers to save and bolster their financial fitness with a tool that’s streamlined. Now, it’s getting better because you’ll automatically get the ID monitoring perk, which makes it easier to manage your financial health without worrying about your information falling into the wrong hands.

If you don’t have it yet, sign up for My LendingTree here.

What will identity monitoring actually do?

Data thieves are commonplace these days, and they mostly operate on the dark web, a sinister corner of the internet where cybercriminals buy and sell personal information. The ID monitoring feature will scan the dark web to ensure none of your email addresses appear there. If they do, we’ll let you know.

Why is email so important?

Most people do business online, and that involves giving out your email address. That’s why it’s a prime target for identity thieves. Your email is connected to your activities on the Web — your bank account, your cloud storage, your passwords, even your streaming services. It usually contains some morsel of information hackers could use to steal your identity. And it’s one of the most common types of data compromised in breaches.

Why do data breaches happen?

When cybercriminals hack into a data source and access confidential and proprietary information, it’s considered a data breach. They do this because information is a profitable commodity, especially on the dark web. Also, in our ever-growing digitized world, it’s easy.

How do breaches happen? 

While hackers certainly exploit obsolete software or leverage malware to launch data attacks, they also use passwords. It’s simple for hackers to decrypt weak, insecure passwords with no complexity (“Welcome1” or “Password1,” for instance). Plus, using the same password for all your accounts also makes it easy for criminals to access a virtual smorgasbord of your private information. If one account gets hacked, it exposes your other accounts where the login information is the same.

What else can ID monitoring look for?

All My LendingTree users get the basic email monitoring service, but what if you want your data defense to go a little farther?

LendingTree’s offering paid monthly subscription packages for greater ID protection. Depending on what plan you choose, you can get monitoring for your phone numbers, bank accounts, credit cards, Social Security number, social media, court records and more. You’ll also get a dedicated case manager and $1 million in theft insurance to help you recoup any losses you incur if hackers steal your identity or money.

The two paid packages — an enhanced plan for $9.95 a month and a premium plan for $19.95 a month — come with access to MyIDCare, a protection platform that lets you manage your account.

Want the paid plans?

Once you sign into My LendingTree, you’ll see an identity monitoring notification on the homepage of the dashboard.

screenshot of ID monitoring

View the packages and see which enhanced protection features make you feel safest. Sign in to your My LendingTree account to access identity monitoring services today. If you don’t have an account yet, sign up for one here.