Aura Credit Monitoring Review

A Solution for Our Times

Every year, about 15 million Americans have their identities stolen. That amounts to about one every fourteen seconds, at an average loss of $500 per theft. And that figure doesn't account for the headaches suffered by victims during the identity theft recovery process, which can months and even years. It's no wonder that the identity theft protection industry has flourished. Currently, it's valued at $11.39 billion and is expected to surge to $27.90 billion by 2029. That's because identity theft protection services have become more competitive and, in turn, more affordable for consumers than ever before. 

Aura is a relative newcomer to the identity theft protection arena. But if offers a robust, multi-featured identity theft protection product that includes a secure VPN line, a password manager, virus protection for all of your electronic devices, data breach and dark web monitoring, and, perhaps most importantly, credit monitoring.

Why Credit Monitoring is Important

Identity theft is a crime that thrives in the dark. Many victims don't realize their identities have been compromised for weeks, months, or even years after the theft occurs. And with each passing day, they're at risk for increasing losses. Often, the first inkling consumers have that their identities have been stolen is a sudden dip in their credit scores. They may discover that their credit has been compromised when they go to apply for a mortgage or student loan, for example. They may be turned down or offered only very high rates for credit. Having a high credit score, of course, is the key to being able to borrow money inexpensively. 

Most of us don't take the time to monitor our credit scores religiously. It's not top of mind before we want to borrow money, for one thing. It's one more chore when our plates are already overflowing. And that's where Aura comes in. The company stays on top of your credit for you and searches for changes in your credit history that may indicate your identity has been stolen.

Aura Identity Credit Monitoring Features

When it comes to identity theft protection, knowledge is power. The best identity theft protection products draw from multiple resources to keep you informed. With Aura, you can link as many accounts as you wish to your identity theft protection plan, including your credit card and bank accounts and any property titles you hold. The company will alert you in near real time to any suspicious transactions that hit your accounts, such as new accounts being opened, large cash withdrawals from your bank accounts, large, unusual purchases, and having a name added or removed from one of your accounts or titles.

While there are dozens of specialized credit reporting agencies out there, there are three that dominate in the consumer credit realm: Experian, Equifax, and Transunion. Aura's identity protection plan includes monitoring your credit scores and reports from all three, to give you a comprehensive picture of your credit status. As an Aura customer, you'll receive alerts any time there's a change in your score or a new account is added to your credit report. You'll also receive monthly credit score reports and full credit reports once a year from each of the three major bureaus. Even if your identity is never stolen, tracking your credit score and history is a critical component of taking care of your financial health.

You will receive an alert each time a hard credit inquiry hits your credit report. Each time a hard credit inquiry is made against you, your credit score will temporarily drop by around 10 points.  If Aura's credit monitoring service detects a lot of hard credit inquiries on your account, that may indicate that someone else is applying for credit in your name. At that point, Aura's credit freeze option becomes very useful. Freezing your credit prevents any hard inquiries from being made against your account. That prevents identity thieves from continuing to apply for credit in your name and helps to protect your credit score.

Additional Features

Aura identity theft plans also include $1 million in insurance to cover eligible losses and fees you may be assessed due to identity theft.

The company offers three plans and, depending on which you select, Aura may also provide you with identity theft recovery services. Repairing your credit and restoring you good name is a time-consuming and confusing process that involves contacting all three credit bureaus and all of your creditors and alerting them to the fact that your identity has been stolen. If you choose Aura's premium plan, the company offers White Glove Fraud Resolution. This service is delivered by a US-based team dedicated to helping you resolve your identity theft problems. The team will create a remediation plan and hand-hold you through the process until your identity theft and credit issue are fixed. There is one drawback to the White Glove service. You still need to do all of the work involved in restoring your credit. Some identity theft protection services offer the option of taking on that job for you.

Aura Identity Theft Protection and Credit Monitoring Services Summed Up

Aura identity theft protection plans offer excellent credit monitoring and reporting. With three plans to choose from, many customers will find an affordable way to protect their identities. Each plan offers device protection. Its lowest cost plan includes coverage for up to 10 devices. Family plans include coverage for up to six family members and 60 devices. Prices start at $12 per month billed annually or $15 per month billed when billed monthly. The company also offers a no-risk proposition, with a 14-day free trial offer. All in all, Aura is worth checking out if you are looking to protect your identity and monitor your credit.