It only prevents identity theft used to open new lines of credit. Which seems to me like the least troublesome kind of identity theft. You can swear that you di

It only prevents identity theft used to open new lines of credit. Which seems to me like the least troublesome kind of identity theft. You can swear that you did not open that account, and it's up to the lender to prove that you did. Which they will not be able to do. On the other hand if your identity is stolen and your current lines of credit or bank accounts get drained, it's much more difficult to deal with because the money's gone, or there are a bunch of transactions you need to contest individually.