Free ID Theft Monitoring from Paypal and Equifax

Paypal and Equifax have teamed up to provide a free ID theft monitoring system. Here's what it says it does

Early warnings. Automatic notification through email, in the event there’s a new account opened that impacts your credit file or a significant balance change to one of your existing accounts.

To sign up, go to Paypal and then find the link on the page that reads "Free Alerts to Help Protect You From ID Theft." You'll be taken to another page where you'll see the icon to Get Equifax Credit Alerts. Click on that and then fill out the forms and create an account at Equifax. Again, this is free, although they do offer a full featured credit monitoring system option that you are free to turn down.

Seems like a good service that will cost you nothing.