Did Credit Sesame Just Make LifeLock Obsolete?

identity theft protection lifelock credit sesame
Earlier this month, Credit Sesame launched a free identity theft protection service. In doing so, they were able to accomplish a couple of things. First, they were able to differentiate themselves from competitors like Credit Karma and Quizzle, both of which have no plans to offer free identity theft protection. Secondly, and something which isn’t quite as apparent since they have not been a direct competitor in the past, Credit Sesame may have made Life Lock obsolete.

This move to offer no-cost ID theft protection puts LifeLock in a difficult position. Their complete business money-generating model is to get people to sign-up for ID theft protection on a monthly basis. This was fairl


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10 Responses to Did Credit Sesame Just Make LifeLock Obsolete?

  1. Jake says:

    Based on what credit sesame is offering in their free service, it can’t compare to what LifeLock is offering. They give credit monitoring (which is very different, as it doesn’t alert until something hits your credit report)and the $50,000 in protection leaves the consumer to handle things themselves & just receive advice on what to do. In my opinion, this is no game changer.

  2. Will says:

    I think the only way for LifeLock to compete will be to change what they actually cover. At the moment all identity theft insurance covers is expenses that are incurred when you restore your identity.

    If LifeLock changed their policy to include funds stolen due to identity theft they’d differentiate their product enough to still be relevant. The downside is that offering that type of insurance is extremely expensive.

  3. david says:

    There’s no difference that I can see between the two except the amount of coverage and Credit Sesame will walk your through how restore everything after identity theft while Lifelock will do it all for you. I don’t see how either company would ever pay out more than $50k since neither covers direct losses, but only costs in restoring your credit. $120 a year is a lot to pay for something that you can do on your own and probably will never have to use.

  4. Ron says:

    This free service from Credit Sesame is nothing like LifeLock; not even their cheaper level of protection.

  5. goinggold says:

    I agree. One is free and one isn’t.

  6. Jay says:

    Wow, Credit Sesame just changed the game here. Their free ID Protection is better than LifeLock’s $10 because it includes a credit score and credit monitoring and the Credit Sesame $10/month plan is on par with LifeLock’s $25/month plan. LifeLock is definitely in trouble.

  7. andre says:

    I spent over 10 months and nearly 100 hours on the phone with the idiots at the credit card companies and collection agency constantly repeating all the info to different people each time. That is weeks of my life i will never get back! I agree probably never use but trying to get it removed and not taken to court…I dont ever want to do again.

  8. andre says:

    Wait I just looked at Credit Sesame video and it seems like it only looks for ways to get you more credit! I am proud to be debt free and don’t want lower credit card rates. It is nothing like LifeLOCK! You get what you pay or dont pay for.

  9. T.J. O'Roke says:

    Hey the best part will be getting the obnoxious lifelock commercials off the air!!!

  10. Jake says:

    The main difference here is that credit sesame is credit monitoring meaning they’ll only alert you once something is on your credit report which is normally 30-45 days after it happens, lifelock alerts in near real time. Thats HUGE, who wants to be told 30-45 days after their credit is ruined when you can be told before it gets ruined.

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