Discover® Identity Theft Protection Now Available to All Consumers Who Want More Protection for Their Personal Information

Rhea-AI Summary

Discover has introduced its Discover^® Identity Theft Protection, a fee-based service now available to all U.S. consumers. This rollout aims to enhance security as identity theft reports surged over 100% from 2019 to 2020. The service offers daily monitoring of personal information on the Dark Web and major credit bureaus, alerts for suspicious activities, and up to $1 million in identity theft insurance coverage. Consumers can subscribe for $15 a month, extending protections to up to 10 children under 18.

Positive

• Launch of Discover Identity Theft Protection expands consumer services.
• Daily monitoring of personal information enhances consumer security.
• Up to $1 million in identity theft insurance provides strong consumer protection.
• Service priced at $15 per month makes it accessible to consumers.

Negative

• None.

Discover today announced Discover^® Identity Theft Protection, a fee-based identity theft protection product that provides individuals with credit and identity monitoring, alerts and fraud resolution services, is available to all U.S. consumers. This expansion comes as identity theft reports more than doubled nationwide from 2019 to 2020, according to the consumer watchdog Federal Trade Commission¹.

For nearly two decades, Discover has helped protect cardmembers from identity theft and fraud. Discover^® Identity Theft Protection monitors customers’ personal information daily on the Dark Web and three major credit bureaus, sends alerts if suspicious activity is detected, provides U.S.-based identity theft specialists to resolve issues if they happen and reimburses customers up to $1 million in covered losses related to identity theft insurance².

“Discover^® Identity Theft Protection gives our cardmembers peace of mind and comfort,” said Shannon Kors, vice president of marketing at Discover. “We’re now passing on that same level of protection to everyone as more consumer habits shift online, and concerns rise about who can get access to personal information and what they can do with it. Protecting your identity also means protecting your financial well-being, which is one of the cornerstones of Discover’s mission.”

Similar protections also extend to as many as 10 of the subscriber’s children, under the age of 18.

Consumers can purchase ITP for $15 a month, plus applicable tax, using payment methods beyond a Discover card. To learn more about how Discover^® Identity Theft Protection can help protect consumers’ personal information, visit www.discover.com/products/identity-theft-protection/.

About Discover

Discover Financial Services (NYSE: DFS) is a digital banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover card, America's cash rewards pioneer, and offers private student loans, personal loans, home loans, checking and savings accounts and certificates of deposit through its banking business. It operates the Discover Global Network comprised of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance around the world. For more information, visit www.discover.com/company.

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¹ Source: United States Federal Trade Commission, https://public.tableau.com/profile/federal.trade.commission#!/vizhome/FraudandIDTheftMaps/IDTheftbyState

² Identity Theft Insurance is underwritten by insurance company subsidiaries or affiliates of American International Group, Inc. (AIG). 175 Water Street, New York, New York 10038. Please refer to the actual policies for terms, conditions, and exclusions of coverage. Coverage may not be available in all jurisdictions.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210421005132/en/

FAQ

What is Discover Identity Theft Protection?

Discover Identity Theft Protection is a fee-based service providing credit and identity monitoring, alerts for suspicious activities, and fraud resolution services.

How much does Discover Identity Theft Protection cost?

The service is available for $15 a month, plus applicable tax.

What features does Discover Identity Theft Protection offer?

It includes daily monitoring on the Dark Web and three major credit bureaus, alerts for suspicious activities, and up to $1 million in coverage for identity theft losses.

Who can use Discover Identity Theft Protection?

The service is available to all U.S. consumers and can extend protection to up to 10 children under the age of 18.

Why did Discover launch this identity theft protection service?

The launch responds to rising identity theft reports, which more than doubled from 2019 to 2020, emphasizing the need for enhanced consumer protection.