NinjaPigeon - My Flight to Financial Independence

Wednesday, September 06, 2006

Chase Credit Protector

Well, about three weeks ago I deposited one of those $15 checks from Chase to sign up for their fraud proection program. The check came with auto-enrollment that was free for 30 days and then was $7.99 thereafter.

Today I finally got around to calling them to cancel. I had to listen to the usual retention type information, which consisted of about a 5 minute long listing of all the wonderful features of the program. Then I cancelled and got a cancellation number as verification.

What I found interesting was that the representative on the phone mentioned that 1 in 40 people experience identity theft. She did not mention the timespan during which those statistics are valid, but it was a much more common occurrence than I realized. She followed that statistic up with a monetary figure by stating that those cases cost between 2 and 16 thousand dollars to "clean up". I'm very curious to find any references for those numbers.

Does anyone else have fraud protection, and if so, what do you have?


  • I'm rather suspicious of those numbers - I imagine they are calculating it as a lifetime risk, but ID theft has been growing and changing over the last 30 years so I wouldn't trust any kind of forecast they would make. And I imagine they are also including things like lost time and wages in how much the people lose, from having to take the time to clean it up.

    By Blogger Kira, at 9/08/2006 9:25 AM  

  • Yah, I'm a bit suspicious myself. I'm hoping someone out in the blogosphere might have a good reference so we can all know how real the risk is.

    By Blogger NinjaPigeon, at 9/08/2006 9:36 AM  

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