If you plan to cancel your IdentityIQ membership, we understand that life is unpredictable. Sometimes situations change and priorities shift. If you decide to cancel now, you can always log back in at any point and reinstate your IdentityIQ membership in the future.
But with identity theft and other online scams rapidly becoming more prevalent, it’s essential not to leave your credit and identity vulnerable, even if you are determined to cancel IdentityIQ. MyScoreIQ® is a valuable alternative that is likely to suit your needs as you move on from your IdentityIQ membership.
What is MyScoreIQ?
MyScoreIQ is widely recognized as a leader in the credit monitoring and identity theft protection service industry. MyScoreIQ members enjoy full access to their FICO® Scores and credit reports and many of the same identity theft protection benefits that IdentityIQ offers, such as dark web monitoring, stolen funds reimbursement of up to $1 million underwritten by AIG, and daily credit monitoring and alerts from the three major credit bureaus – TransUnion, Experian, and Equifax. MyScoreIQ is a valuable service for consumers who want to protect their credit and identity while also taking steps to build up their financial strength.
How Does MyScoreIQ Compare to IdentityIQ?
Both IdentityIQ and MyScoreIQ aim to help protect your identity and monitor your credit. MyScoreIQ operates with the FICO® Score models. The FICO® Score is the gold standard in credit scoring, widely used by lenders for the best insight into a borrower’s creditworthiness.
Both services share features such as credit reports and scores, identity theft insurance underwritten by AIG, dark web monitoring, and more. However, MyScoreIQ puts a strong emphasis on credit score protection and enhancement. With MyScoreIQ services, you get valuable insights into your FICO® Scores with unique tools such as the FICO® Score Simulator, FICO® Score Ingredients panel, and the FICO® Score Tracker Panel.
Industry-specific credit scores play a crucial role in various lending decisions. These specialized scores provide lenders with a more tailored assessment of an individual’s creditworthiness for specific financial products. MyScoreIQ goes beyond the standard credit monitoring services by providing access to a range of industry-specific FICO® Scores that lenders commonly use to evaluate credit applications. Here are some of the key industry scores included in MyScoreIQ plans:
- FICO® Score 2:
- A classic score version used primarily in mortgage lending.
- Some lenders may utilize this version for other credit product evaluations, such as credit cards, personal loans, retail credit, and student loans.
- FICO® Auto Score 2 & FICO® Auto Score 8:
- Customized for auto lending.
- Widely employed by banks, auto dealers, and other lenders when assessing credit reports based on Experian® data.
- FICO® Bankcard Score 2, FICO® Score 3 & FICO® Bankcard Score 8:
- FICO® Score 3 is a base version for credit card lending.
- FICO® Bankcard Score 2 and FICO® Bankcard Score 8 are customized versions specifically designed for bankcards.
- FICO® Score 8:
- The most widely used version of the FICO® Score by major credit bureaus.
- Utilizes data from all three major credit reporting agencies: TransUnion®, Experian®, and Equifax®.
Having access to these industry scores empowers you with a more nuanced understanding of how specific lenders may evaluate your creditworthiness.
Why FICO® Scores?
The FICO® Score model measures how likely a borrower is to pay back debts on time by evaluating their financial history. These scores have been the industry standard for more than 25 years, providing lenders with a reliable measure of credit risk. Many lenders use FICO® Scores to quickly make more fair and accurate decisions.
With many lenders using FICO® Scores for faster and fairer decisions, MyScoreIQ recognizes the need to help borrowers strengthen their credit and protect it from scammers and identity thieves. A good FICO® Score can help open up many different financial opportunities, such as lower interest rates or better loan terms.
How Can I Sign Up For MyScoreIQ?
Interested in making the switch? Creating your MyScoreIQ account is quick and easy; simply visit the MyScoreIQ website’s home page to explore the variety of plans. Once you have decided which plan best suits your needs, follow the prompts to get started and unlock your FICO® Scores.
MyScoreIQ offers four main membership plans to offer a variety of options and meet different needs. Each plan includes credit and identity theft monitoring and is designed to provide varying levels of protection and benefits, ensuring you find the right fit for your unique requirements. Here is a brief overview of each plan:
- Max: The most comprehensive plan, MyScoreIQ Max offers a complete collection of tools and features to deliver the best protection for members’ credit health and personal information. Max plan members get access to their credit reports and FICO® Scores from each of the three major credit, which are updated every 30 days. Members also have full access to the FICO® Score Simulator tool, which offers risk-free evaluations of how certain decisions can affect your credit score, such as taking out a loan or opening a new credit account. These features also include dark web and internet monitoring, SSN alerts, stolen funds reimbursement of up to $1 million, and more.
- Pro: As a MyScoreIQ Pro member, you receive updated three-bureau credit reports and FICO® Scores every three months in addition to alerts on possible suspicious activity related to your personal information, such as crimes committed in your name or changes or use of your Social Security number.
- Plus: MyScoreIQ Plus members receive updated three-bureau credit reports and FICO® Scores annually. Key benefits of the Plus plan also include alerts for possible suspicious activity, including alerts when changes are made to your listed address and application monitoring to keep your accounts secure. This plan is cost-effective with a balanced feature set.
- Secure: The MyScoreIQ Secure plan offers essential credit and identity theft protection features at a budget-friendly price. Members have access to their credit reports and FICO® scores from one of the three major credit bureaus, updated annually. The Secure plan delivers critical security features such as dark web, internet, and SSN monitoring, as well as synthetic identity theft protection, stolen funds reimbursement of up to $1 million underwritten by AIG, and more.
If you’ve decided to cancel IdentityIQ, choosing an alternative that continues to prioritize your credit and identity protection is essential. MyScoreIQ is a leading alternative, renowned for its suite of security features and the value of full access to FICO® Scores and credit reports. Your financial well-being is paramount, and in the ever-evolving landscape of identity theft and credit scams, MyScoreIQ ensures you stay safeguarded while you continue to strengthen your finances.