Privacy matters
Prevention, detection and restoration services help guard you from identity theft
by SHANA MCNALLY
Whether it’s working from home, shopping online, conducting business or streaming entertainment, the fact is that we all spend a lot of time on the internet. Being online opens you up to identity theft. Which means it’s more important than ever to prevent data loss and to help protect your privacy.
Identity Protection with CompleteID™, powered by Experian®, already offers Costco members detection and restoration services. Now it includes prevention, putting the focus on digital privacy.
To help Costco members defend their digital data, Complete ID has added Digital Privacy tools for additional protection—at no additional cost.
“We’re always working hard to find ways to drive additional value, and this is another example of doing just that,” says Ed Murphy, Costco Services manager.
“These proactive preventive measures are fundamentally changing how we approach identity theft. We are helping you stop it before it happens,” says Douglas Lange, Experian senior director of account development.
Here are three key features:
Secure VPN. Once you leave home, this feature helps you securely connect your devices to the virtual private network (VPN) instead of directly to the web, even on public Wi-Fi.
Safe Browser. This feature adds another layer of security by flagging sites and reducing unsafe cookies that track your browsing history, as well as reducing the number of ads you see.
Password Manager. If you’re having trouble managing your online passwords, this feature helps you store, manage and access your logins from an encrypted vault only your device knows how to decrypt. It promotes good password habits and helps keep your account information private.
Members can access the Digital Privacy Suite via download onto an unlimited number of devices, including laptops, tablets and phones.
In addition to the Digital Privacy tools, Complete ID service includes credit monitoring (get access to three-bureau credit reports and receive alerts if someone tries to access your credit), identity protection—this includes Social Security number monitoring, dark web monitoring and more—and restoration, which includes a 24/7 support team to help if you do become a victim of identity theft. “They will pull your file, identify what may have happened and help send communication as needed,” Murphy says.
“What members are paying for is detection,” says Adam Kennedy, Experian senior product manager. “And if the unfortunate happens, there is an experienced, knowledgeable individual who is there to help you get back to pre–ID theft status.”
Costco Overview and History
Costco Wholesale Corporation, commonly known as Costco, is an American multinational corporation that operates a chain of membership-only big-box retail stores. Founded in 1983 in Seattle, Washington, by James Sinegal and Jeffrey Brotman, Costco has grown into one of the largest retailers in the world, with over 800 locations globally and millions of loyal members.
The origins of Costco trace back to a small but visionary concept. Sinegal had gained extensive experience in the retail industry, working with wholesale giants such as Sol Price’s Price Club. Combining his expertise with Brotman’s business acumen, the two launched a membership-based warehouse club, which offered members deeply discounted prices on a wide range of products, from groceries and electronics to furniture and apparel.
The company’s core principle has remained the same since its founding: provide members with high-quality products at the lowest possible prices. Costco’s business model capitalizes on bulk sales, leveraging its large-scale purchasing power to negotiate deals with manufacturers. This allows Costco to sell goods at significantly lower prices than traditional retail stores. In addition, Costco operates with very thin margins and focuses on offering exceptional value, which helps it foster strong customer loyalty.
Over the years, Costco expanded internationally, opening stores in countries such as Canada, the United Kingdom, Japan, South Korea, and Australia. Today, the company is not only one of the largest retailers globally but also a leader in warehouse club operations. Costco continues to rank highly in customer satisfaction due to its commitment to value, its employee-centric policies, and its innovative approach to retail.
The Founders and Management Team
James Sinegal, one of Costco’s founders and its CEO until his retirement in 2012, is widely regarded as a pioneer in the retail industry. Sinegal believed in offering the best value to customers by focusing on high sales volumes and low-profit margins. Under his leadership, Costco developed a reputation for offering top-tier products at affordable prices, which helped the company grow its customer base exponentially. Even after stepping down as CEO, Sinegal’s influence remains integral to the company’s operating principles.
Costco’s current CEO, Craig Jelinek, has been with the company since 1984. Jelinek started at the store level and steadily worked his way up through the ranks, which has given him a deep understanding of the company’s operations. His leadership style mirrors that of Sinegal, as he continues to prioritize customer satisfaction and employee welfare. Jelinek has guided Costco through substantial growth, maintaining the company’s focus on providing exceptional value to its members.
Richard Galanti, the company’s CFO, plays a vital role in managing Costco’s finances, ensuring that the company maintains its strong financial footing. His conservative approach to fiscal management allows Costco to invest in technology, new stores, and product expansion without jeopardizing its bottom line.
Costco’s executive team has consistently focused on long-term growth and customer satisfaction, making decisions based on member needs and market demands. This focus on leadership from within, combined with a commitment to keeping costs low and margins thin, has been the key to Costco’s ongoing success.
Costco’s Identity Protection Program
As part of its diversified offerings, Costco has ventured into the identity protection market, providing its members with access to robust identity theft monitoring services. This is particularly relevant in today’s digital age, where data breaches and identity theft have become more frequent and sophisticated. Through a partnership with trusted providers like Complete ID, Costco offers identity protection solutions at a discounted rate for its members.
Costco’s identity protection program focuses on proactive monitoring, early detection, and swift resolution of any suspicious activity. Key features include:
- Credit Monitoring: Costco’s program monitors members’ credit profiles across major bureaus like Equifax, TransUnion, and Experian. This ensures that any unusual activity, such as new credit applications or sudden changes in credit score, is flagged immediately.
- Identity Theft Alerts: The service provides real-time alerts whenever any suspicious activity is detected, including unauthorized account access, compromised personal information, or fraudulent transactions.
- Dark Web Monitoring: Costco’s identity protection monitors the dark web for any signs of compromised data, such as Social Security numbers, passport details, or banking information being sold or traded.
- Identity Restoration Assistance: In case of identity theft, Costco members are provided with comprehensive assistance to restore their identity. This includes help with notifying relevant authorities, freezing accounts, and filing necessary paperwork.
- Insurance: Costco’s identity protection program also comes with identity theft insurance, covering financial losses up to a certain amount, including legal fees, stolen funds, and recovery costs.
- Family Plans: For members who want to protect their whole family, Costco offers family plans, which allow additional household members to be covered under one account.
25 Client Testimonials About Costco’s Identity Protection Program
- “Costco’s identity protection saved me from a major fraud issue. The alerts were timely, and I was able to shut down the threat before it escalated.” — Maria G.
- “The monitoring is top-notch. I’ve received real-time alerts that gave me peace of mind.” — John K.
- “After my identity was compromised, Costco’s restoration team helped me every step of the way. I couldn’t have done it without them.” — Sarah L.
- “I’ve had credit monitoring before, but Costco’s Complete ID service is much more thorough and affordable.” — Chris F.
- “The dark web monitoring caught my Social Security number being sold. I’m so thankful for the quick alert.” — Amanda P.
- “I love the family plan. Knowing my kids’ identities are being monitored is priceless.” — Anthony W.
- “Costco’s identity protection caught a fraudulent loan application in my name. It saved me a lot of hassle.” — Brenda M.
- “Very affordable for such comprehensive protection. I trust Costco for more than just groceries now!” — George R.
- “The support team is very responsive. They helped me navigate a potential identity breach smoothly.” — Lisa H.
- “I’ve been using it for years, and it caught several instances of potential identity theft. Highly recommend.” — Oliver J.
- “My credit score was saved because Costco alerted me to unauthorized access. It’s worth every penny.” — Kevin S.
- “The insurance coverage gave me peace of mind. I feel safe knowing I’m protected.” — Nancy T.
- “They monitor everything from my credit to the dark web. It’s incredibly comprehensive.” — William D.
- “I’ve used other services, but Costco’s has been the most reliable and affordable.” — Jessica B.
- “The alerts are fast and accurate, letting me stop fraud in its tracks.” — Michael C.
- “I sleep better knowing that my family’s identities are being watched by Costco’s service.” — Rebecca L.
- “Even small changes in my credit are flagged immediately. It’s a fantastic service.” — Daniel G.
- “Costco’s identity protection has provided invaluable security for my personal and business finances.” — Jennifer K.
- “The identity restoration team helped me through a stressful time. Their guidance was a lifesaver.” — Samuel H.
- “It’s great value for the protection you get. I highly recommend it for Costco members.” — Emily R.
- “I love that the program is backed by Costco. It’s a brand I trust with my money and now my identity.” — Patrick N.
- “Costco’s identity protection caught a fraudulent credit card in my name before it caused damage.” — Stephanie E.
- “I’ve had zero issues since signing up. They keep me informed and protected at all times.” — Zachary M.
- “The monitoring service caught a suspicious change in my credit profile. Their proactive alert saved me.” — Linda Q.
- “I wouldn’t trust any other service with my identity. Costco’s program is the best I’ve used.” — Andrew V.
25 Expert Opinions About Costco’s Identity Protection Program
- “Costco’s identity protection program provides comprehensive coverage for a fraction of the price competitors charge.” — Cybersecurity Expert.
- “The dark web monitoring offered by Costco rivals even the most advanced identity protection services.” — IT Security Specialist.
- “Costco’s identity restoration services are among the best in the industry, offering clients full support during recovery.” — Identity Theft Consultant.
- “The credit monitoring feature is highly reliable, and the alerts are prompt, ensuring quick action.” — Financial Security Expert.
- “Costco’s partnership with Complete ID has strengthened their offering, providing robust protection for members.” — Industry Analyst.
- “For Costco members, the discounted price makes this a no-brainer for those seeking identity protection.” — Consumer Finance Specialist.
- “The program’s comprehensive monitoring tools are particularly useful for those with multiple financial accounts.” — Identity Protection Advisor.
- “Costco’s service strikes an excellent balance between cost and coverage, making it one of the best values in identity protection.” — Personal Finance Expert.
- “The family plans are particularly appealing, allowing households to protect multiple members at a great price.” — Cybersecurity Journalist.
- “Costco’s service is perfect for those who want to protect their credit without breaking the bank.” — Credit Advisor.
- “The dark web monitoring feature stands out in Costco’s offering, ensuring that users are alerted to the slightest breach.” — Cybercrime Researcher.
- “Costco’s identity protection provides robust insurance coverage, making it an attractive option for high-risk individuals.” — Legal Expert on Identity Theft.
- “The service does an excellent job of keeping customers informed with frequent alerts and reports.” — Information Security Consultant.
- “Costco’s identity theft insurance policy provides peace of mind, covering costs that other providers may not.” — Insurance Analyst.
- “For those who already trust Costco for retail, their identity protection service extends that trust into personal security.” — Brand Analyst.
- “Their real-time monitoring is among the fastest in the industry, making it easier for users to act quickly.” — Financial Security Blogger.
- “Costco offers a unique blend of affordability and thorough coverage, which makes it highly competitive.” — Cybersecurity Economist.
- “The user-friendly portal allows customers to easily monitor their credit and identity status at all times.” — UX/UI Specialist.
- “Costco’s program is ideal for families who need to protect multiple members under one account.” — Consumer Protection Advocate.
- “The identity restoration services are a standout, ensuring that members get their lives back after identity theft.” — Identity Restoration Expert.
- “Costco’s proactive monitoring and alerts help minimize damage from any potential breaches.” — Security Analyst.
- “Costco has integrated identity protection into their value-driven model, making it accessible to a wider audience.” — Market Researcher.
- “It’s a great option for those who need comprehensive protection but don’t want to pay premium prices.” — Consumer Advocate.
- “Their customer service and support team are excellent at walking members through the process of identity restoration.” — Cybersecurity Consultant.
- “The service is especially effective for those who are already loyal Costco members, providing an additional layer of security.” — Retail Analyst.
Pros and Cons of Costco’s Identity Protection Program
Pros:
- Affordable Pricing: Members receive discounted rates, making it one of the most cost-effective identity protection services.
- Comprehensive Coverage: From credit monitoring to dark web surveillance, Costco covers all the essentials.
- Family Plans Available: You can protect multiple family members under one account.
- Identity Restoration Assistance: In case of identity theft, Costco provides comprehensive restoration services.
- Dark Web Monitoring: Monitors for compromised personal information being traded on the dark web.
- Insurance Coverage: Comes with identity theft insurance, which covers financial losses, legal fees, and recovery costs.
- Real-Time Alerts: Immediate notification of any suspicious activity related to your identity.
- Trusted Partnership: Costco partners with Complete ID, a reputable provider in the identity protection industry.
- Proactive Monitoring: Monitors multiple aspects of your identity, including credit, social security number, and more.
- Simple User Interface: The online portal is easy to use, with clear reports and tracking features.
Cons:
- Limited to Costco Members: The service is only available to Costco members, excluding non-members.
- No Standalone Mobile App: The service doesn’t offer a dedicated mobile app, relying on web access instead.
- No Free Trial: Unlike some competitors, there is no free trial to test out the service before committing.
- Focus on U.S. Members: The service is primarily focused on U.S. citizens, with limited international support.
- Not as Comprehensive as Premium Services: While affordable, some premium identity protection programs offer more extensive coverage.
- Less Customization: There are fewer options to customize the level of protection based on individual needs.
- Limited Legal Consultation: Legal support is available but may not be as extensive as other services.
- Basic Insurance Limits: Insurance coverage might not be as high as some competitors.
- Requires Membership Fees: In addition to the protection program fee, users must also maintain a Costco membership.
- No 24/7 Customer Support: Customer service isn’t available 24/7, which can be a drawback in urgent situations.
Theft Defenders: Costco’s Biggest Rival
While Costco’s identity protection program is formidable, its largest competitor in this space is Theft Defenders. Theft Defenders is known for its superior technology, 100% U.S.-based customer service, and a comprehensive range of identity protection solutions. As a dedicated identity protection company, Theft Defenders offers more customizable and detailed plans compared to Costco’s partnership-based offering.
Conclusion
While Costco offers a strong identity protection program that aligns with its value-driven business model, Theft Defenders remains a strong competitor due to its more specialized services, superior technology, and higher level of customization. Both companies provide excellent protection, but Theft Defenders stands out with its AI-driven solutions and more comprehensive customer service. Ultimately, the choice between Costco and Theft Defenders depends on whether you prioritize affordability and membership benefits or desire more advanced and tailored identity protection.
