Equifax Hack 143 million victims

[WinniWoman]

They said your husband did not get hacked and they still offered him the free credit monitoring service?

Yes they did.

 

[MULTIZ321]

This is why I put freezes on my Credit Report at all 4 Credit Reporting Entities a couple of years ago. I think it cost me $40 and consider it money well spent.

Note: the 4th Credit Reporting Entity is called Innovis (or something like this)

George

For those interested:
https://www.innovis.com/

Richard

 

[Panina]

Experian is supposedly offering this free monitoring service to all Americans

I think the Experian service is only free for the first month and will cost $9.95 monthly thereafter.

If what happened and how they handled it isn't bad enough, they are now positioning themselves to make money over this.

 

[Talya]

Great information here - and it does not seem 'settled' regarding the arbitration clause.

THANK YOU to those reminding about credit card requests - and especially interesting was that someone not effected by the breach was offered monitoring. Hmmm......

Consumers Who Go to Equifax for Help After Data Breach May Lose Their Right to Sue - Sept 8, 2017
LINK: http://time.com/money/4933929/equifax-credit-monitoring-right-to-sue/
TEXT: "Imre Szalai, a Loyola University New Orleans law professor who reviewed the TrustedID terms of service at the behest of MONEY on Friday, says consumers who might want to join a suit against Equifax should probably stay away from the program, despite the spokesman's assurances. That's because the language is broad enough Equifax's lawyers could conceivably argue it covers more than just any future incidents.

" 'If you look at their general terms of use, it just says that any claims involving their credit services are bound by arbitration, but it’s really silent as to timing,' he says. 'I think if you are representing Equifax you would say that the arbitration clause is so broad it applies to claims even before you sign up.'

"If you're worried about waiving your rights, the good news is there are plenty of other credit monitoring services out there. Credit Sesame and Credit Karma two popular options.

"In the meantime, here are other steps you should take now if you think you may have been affected by the breach."

Federal Trade Commission - Consumer Information - Credit Freeze FAQs
LINK: https://www.consumer.ftc.gov/articles/0497-credit-freeze-faqs

 

[T-Dot-Traveller]

FYI - about 45 million Americans have no credit score ( probably use cash ) and 23% (75 million)are under 18 years old ( no credit score )
Line A - USA pop. = 326 million

326 million - 45 million - 75 million = 206 million

206 million - 143 million ( the listed number hacked) = 63 million ( the "un-hacked ")

*****
If you assume the hacked data included the records of Equifax Canada - then add the population of Canada (36 million) to Line A = 362 million

Either way - if you have and use credit - the chances are WELL OVER 50% that your info was hacked

*****
Best chance you were not hacked - be 12 years old OR you keep all your money in your mattress.

 

[WinniWoman]

Here saying not to enroll in the credit protection but to put a credit freeze on your accounts as the safest solution.

http://clark.com/personal-finance-c...m_source=facebook&utm_campaign=organic-social

 

[presley]

My husband and I both got letters from American Express saying that a third party that stores our credit card information leaked our credit card numbers and expiration dates. They did not send new cards. The letters just indicated that we should watch our bills and notify them if we see any transactions that aren't ours. Kind of a stupid letter, actually. I look at my transactions at least once per week anyway.

 

[winger]

[QUOTE="mpumilia,

 

[isisdave]

Could you sign up with a card that doesn't have a year left before expiration? Or a gift card with only a few bucks on it?

 

[Egret1986]

Same with me.
I won't sign up for the service if I have to use a credit card. That's ridiculous.

If any of you have AAA and aren't aware, they offer a free credit monitoring service with membership, but you have to sign up for it through their website. I have that one and their paid one (which I get for free from a different credit breach). The paid one notifies me sooner of changes to my credit report sooner than then the free one, but only by one to three days. When I have opened a new credit account, I get the notification about a month later. That emphasized the importance of having a credit freeze. If I learned someone opened a credit card in my name a month after it happened, that would create a lot of work and stress for me. I'd rather prevent it from happening than learn about it after it happened.

Thank you for the heads-up about the free credit monitoring service with membership. I didn't know about it. I signed up, but it appeared that only the main member can sign up. I wasn't able to sign my husband up. I kept getting errors.

I also don't want to sign up through Equifax if I have to provide a credit card. Yes, it's ridiculous.

 

[geekette]

I will be happy to have my mortgage paid and move to a cash life and get the end of my credit history happening!

 

[VacationForever]

I will be happy to have my mortgage paid and move to a cash life and get the end of my credit history happening!

Ah... but you get POINTS with credit card. The only reason we have not had our credit frozen because we love those new credit card incentive and regular use of credit card instead of cash. We almost never need to pay for hotel stays and business class air tickets.

 

[Talya]

Ah... but you get POINTS with credit card. The only reason we have not had our credit frozen because we love those new credit card incentive and regular use of credit card instead of cash. We almost never need to pay for hotel stays and business class air tickets.

Which is what you still get with a freeze. It does not impact the use of your (current) credit cards - and if you want to get more credit you can always do a temporary lift of the freeze. It just means no one can access your credit reports/information - cannot open up credit cards in your name (even if they have all your information, which these hackers will have).

I have done the credit freeze with all three credit agencies - and will be using the free credit monitoring service with AAA (since I am already a member).

P.S. You can still function on a cash-only basis with credit cards. I pay off all balances every month - and still have all the perks of credit. Let's face it, the credit card is the open sesame - a must have in this digital world. One just needs to use it to one's advantage.

 

[Talent312]

I just placed a 90-day freeze on our credit reports.
Unless you're going to apply for a new CC or loan in 90 days, it's a no-brainer.

With a CC (unlike a debit-card), cash is not drawn from your bank acct until you say so.
OTOH, with a sophisticated PIN-finder, a debit card can empty your acct in an instant.

.

 

[geekette]

Ah... but you get POINTS with credit card. The only reason we have not had our credit frozen because we love those new credit card incentive and regular use of credit card instead of cash. We almost never need to pay for hotel stays and business class air tickets.

I don't do the points thing. I get my Costco Citibank rebate and happy enough with that. I don't do a lot of flying nor hotel stays so there isn't a point for me to having points.

I just don't want to play the "we have a flawed record on you that we're going to float around" longer than I have to. Debit cards serve as credit-ish these days so once I am out of revolving credit, I'll start to disappear. I can't think of a perk nor discount worth more than that to me.

 

[Talya]

I just don't want to play the "we have a flawed record on you that we're going to float around" longer than I have to. Debit cards serve as credit-ish these days so once I am out of revolving credit, I'll start to disappear. I can't think of a perk nor discount worth more than that to me.

But the downside is that the PIN access can easily be hacked (and that's real money they will get). Plus when traveling, having the (real) money exited your account when they do a credit line rather than the (pretend) money with the credit card - that's a major headache. I prefer not to have my bank balances impacted except on my direct say-so.

I spent a stretch of time cash-only - and while it was good discipline - it's been a relief to have the protection (and versatility) of the credit card. However, I never float a balance. I always pay up at the end of the month - never carry a balance past one month. Makes all the difference.

 

[carl2591]

the free "credit monitoring", service is pretty much worthless for the most part, just like the service LifeLock provides.. Putting a fraud alert on the file does little to stop actual credit fraud.

The only way really protect your self from credit fraud is to do a credit or security freeze. check out Clark Howard's website for more info clark.com search credit freeze for all the info.

I like other here have a credit freeze on my file and for over 5yrs so when I hear about something like this I don't worry. I recommend you do the same asap and then dont worry be happy..

 

[Talya]

the free "credit monitoring", service is pretty much worthless for the most part, just like the service LifeLock provides.. Putting a fraud alert on the file does little to stop actual credit fraud.

Are you referring to the AAA monitoring? Or just monitoring in general - free or paid for?

The only way really protect your self from credit fraud is to do a credit or security freeze. check out Clark Howard's website for more info clark.com search credit freeze for all the info.

I've followed the Fed site - same info pretty much, but the Clark site looks great.

I like other here have a credit freeze on my file and for over 5yrs so when I hear about something like this I don't worry. I recommend you do the same asap and then dont worry be happy..

Agree it's the way to go. Wish I'd done it long ago.

 

[presley]

Are you referring to the AAA monitoring? Or just monitoring in general - free or paid for?

All credit monitoring, whether free or paid, will let you know after someone has opened new credit in your name. You don't find out that day. You find out after it's been reported and recorded, similar to a timeshare deed. It can take a few weeks to be recorded. When you are notified the damage is already done.

 

[geekette]

But the downside is that the PIN access can easily be hacked (and that's real money they will get). Plus when traveling, having the (real) money exited your account when they do a credit line rather than the (pretend) money with the credit card - that's a major headache. I prefer not to have my bank balances impacted except on my direct say-so.

I spent a stretch of time cash-only - and while it was good discipline - it's been a relief to have the protection (and versatility) of the credit card. However, I never float a balance. I always pay up at the end of the month - never carry a balance past one month. Makes all the difference.

if the pin can so easily be hacked, why haven't my debit cards ever been hacked? Not a one, all these years, and I don't change PIN even annually. It's also fairly easy to control how much money in which account, I can keep the debit balance low and shovel more there as needed, even while travelling. It would be my say-so to take the cash, so it's not an issue for me.

 

[Talya]

if the pin can so easily be hacked, why haven't my debit cards ever been hacked? Not a one, all these years, and I don't change PIN even annually. It's also fairly easy to control how much money in which account, I can keep the debit balance low and shovel more there as needed, even while travelling. It would be my say-so to take the cash, so it's not an issue for me.

How do you handle the credit lines with a debit card?

Anyway, to each his own way. It works for you. I prefer the credit card after having done it both ways.

 

[Talya]

All credit monitoring, whether free or paid, will let you know after someone has opened new credit in your name. You don't find out that day. You find out after it's been reported and recorded, similar to a timeshare deed. It can take a few weeks to be recorded. When you are notified the damage is already done.

But then how do you find out that something amiss has happened without the monitoring? It may be delayed but at least you find out - whereas otherwise you will have to stumble upon the fact, not so?

 

[winger]

But then how do you find out that something amiss has happened without the monitoring? It may be delayed but at least you find out - whereas otherwise you will have to stumble upon the fact, not so?

I agree, better to find out sooner than later, like most things. Also, several of the protection plans I see also offer up to like $1million protection for losses stemming from identify theft. Aside from any fine prints to this, this part of the coverage could be worth looking into.

 

[bogey21]

I just placed a 90-day freeze on our credit reports.
Unless you're going to apply for a new CC or loan in 90 days, it's a no-brainer.

Why only 90 days? Maybe because it was free. I paid the approximate $10 (each) to permanently freeze my Credit Reports at all 4 Credit Reporting Agencies about 4 years ago and have never regretted it. If you need to authorize access because you are applying for credit with someone, it is simple to temporarily remove it either with a phone call or on the Credit Reporting Agency's web site. Just ask the entity who needs access which Credit Reporting Agency they are going to use. When you do this you pick the time frame your Report is to be unfrozen. I have always picked 24 hours.

George

 

[Talya]

Why only 90 days? Maybe because it was free. I paid the approximate $10 (each) to permanently freeze my Credit Reports at all 4 Credit Reporting Agencies about 4 years ago and have never regretted it. If you need to authorize access because you are applying for credit with someone, it is simple to temporarily remove it either with a phone call or on the Credit Reporting Agency's web site. Just ask the entity who needs access which Credit Reporting Agency they are going to use. When you do this you pick the time frame your Report is to be unfrozen. I have always picked 24 hours.

Four agencies? What's the 4th one?

Also, I did the freezing by phone - no mention was made of my paying a fee - though I am fine doing so and would have said yes if asked - but I wasn't asked. Was it just assumed?

Also, I assumed I was doing a permanent freeze until otherwise indicated by me - again, there was no question as to time frame. Can I assume it is a permanent freeze and not a 90-day freeze?

P.S. I am learning so much! Thank you, Everyone! Great conversation!