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Thread: Equifax breach

  1. #1
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    Equifax breach

    Some have suggested it would be a good idea to put a freeze on their credit after the Equifax breach. Anyone have any opinions?

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    Quote Originally Posted by toronado455 View Post
    Some have suggested it would be a good idea to put a freeze on their credit after the Equifax breach. Anyone have any opinions?
    Enroll in the credit monitoring that Equifax is offering. It's free for one year. I have heard that they require a credit card to enroll in the free year and will renew it with a charge to your credit card if you don't opt out. This is BS by the way. Equifax leaked our most sensitive identity information that is permanent in nature. One year of credit monitoring is completely inadequate. Maybe some congresspeople will get burned by this and be spurred into holding the credit agencies accountable.

    Freezing your credit is pretty drastic and not free. It varies by state, but $10 is typical for each freeze or unfreeze at each of the three major credit reporting agencies. If you put the freeze on you will have to pay each time you want to have a credit application processed. That could include things like insurance applications, rental applications, cell service applications, in addition to new credit cards, car loans, and mortgages.

    There is a less drastic level called something like credit watch. I think that is free and you only have to do it at one agency and they propagate it to the others. With a credit watch, any new credit application will be halted until they contact you to ask if it is legit.

    There will be a lot of press about this in the coming days. This is how I understand it at this point.

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    If you take this offer toy won't be able to sue its in the fine print, my info was leaked I noticed my credit score seemed off for the last month's or so only to find out that this happen in July and this just now told us about it what an joke

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    Peter Is A God AkA Gods Son

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    Quote Originally Posted by bobdevnul View Post
    There is a less drastic level called something like credit watch. I think that is free and you only have to do it at one agency and they propagate it to the others. With a credit watch, any new credit application will be halted until they contact you to ask if it is legit.
    Right. It's called a fraud alert and it is one step less "drastic" than the freeze which I personally don't consider drastic at all. I think the "freeze" should actually be the default state! Nevertheless, $10 seems a small price to pay for some actual security. However, I'm not sure how safe even the freeze is. Perhaps it is only as secure as the authentication required to unfreeze... I do not know.

    Quote Originally Posted by bobdevnul View Post
    Equifax leaked our most sensitive identity information that is permanent in nature.
    Exactly my thoughts. If this was just a password or credit card number that could be changed, that would be one thing, but this is different.

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    I'm more concerned that thieves can use the stolen credentials to hijack your other financial accounts (e.g. bank accounts, investments, etc.). Or they can hijack your phone number (for those with postpaid accounts) and intercept two-factor authentication... Gmail, Facebook, Amazon,...

    Legit concern? Or am I worrying about nothing?

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    Quote Originally Posted by mmoose View Post
    I'm more concerned that thieves can use the stolen credentials to hijack your other financial accounts (e.g. bank accounts, investments, etc.). Or they can hijack your phone number (for those with postpaid accounts) and intercept two-factor authentication... Gmail, Facebook, Amazon,...

    Legit concern? Or am I worrying about nothing?

    Sent from my Samsung Galaxy S7 using HoFo mobile app
    Nope, it's a legit concern but at least it sounds like you're in a better position that people that use weak passwords. I think using good passwords is one of the basics in keeping yourself and your personal data safe.
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    I went to the bank and got new debit cards since I have 2 bank accounts I also asked for new credit cards to be on the safe side as for my checking and savings to even access them you need the account password better safe then sorry

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