If you recite this name of Allah in times of fear, Allah SWT will protect you from all calamities, mishaps and losses.
Some people just believe it’s bida’ah to recite the tasbeeh. I did asked my ustazah and she said it is not bida’ah to call upon Allah, anytime, and how many times when you feel to.
“Say: Call upon Allah or call upon Ar-Rahman (the All-Compassionate); by whatever name you call upon Him, to Him belong the most beautiful Names.” (Al-Isra’: 110)
“The most beautiful names belong to Allah: so call on him by them.” (Al-‘A’raf :180)