Are credit monitoring services worth the money?

Episode 1277 (32:29)

Louis from Hollywood, CA

Louis keeps getting emails from LifeLock, and he wants to know if the service is worth the price. Leo says that he's been a subscriber for ten years, and he got it to protect his kids. Leo's opinion is that they do a great job monitoring your credit to be sure nefarious activity doens't crop up, and when it does, they can help you fix it. It's not cheap, but Leo has never had any problem and has no plans to stop using it. But you can put a fraud alert on your own account which will warn you when someone tries to open up credit.

Dave Ramsey has an article on it. Banks also may have a program that can protect you. Clark Howard also has a guide on how to protect yourself against identity theft.