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This is exactly the kind of nonsense I was expecting. Ridiculous.
Totally. Of course, something as important and sensitive as credit regulation should be run by the government rather than a for-profit agency, or at the very very least regulated as closely as humanly imaginable, but we can't have any of THAT, of course.
Yes, with the cost varying by state.
I kind of hate that it's the first thing I thought of, buuuut.....like you said, "for-profit entities gonna for-profit." I'm quite certain they would happily throw out a couple hundred million people's personal info if they thought it'd improve their bottom line for the next 5-10 years. The peon consumers are just grist for the mill.
i had my stuff frozen a while ago....bought a new car in Feb. i literally went to the experian website at the dealership, logged in and requested a 1 week lift. it was instant. you need to keep those login and passwords handy. i am fairly organized with that since it is important.Otis said:
not required, but you gotta have that PIN........Experian mailed me like a 9 digit random PIN. not sure what my Equifax one is, but I know that report is locked down. I created one with TU. Innovis mails.
There was an article out today stating that you aren't waiving anything when you sign up. If there is a class action suit, signing up did nothing to prevent you from participating. It is left over small print.I am supposedly compromised--my wife isn't. When I got to the box where it talked about the free credit monitoring, I check on FAQ box to read the small print everyone is talking about, and when I got to the bottom to go back, it said "Thanks for enrolling in the credit monitoring Your protection starts Monday." Just
Now I wasn't interested in being part of a class action or anything (because this one will be so huge you will be lucky to get one dollar), but I didn't want the service and it signed me up just because I had the nerve to want more info.
It took me about 5 minutes each for Innovis, Equifax and Experian, but Transunion just keeps telling me they are experiencing technical difficulties.
Froze all 4 of mine today. Did the TU 'Lock' functionality that I can control online instead of a freeze. Instantly got PIN numbers for Experian and Equifax. Innovis mailing one.
Because these guys don't make any money from it. The cost is free or very cheap and regulated by the state. They all try to push you into a more traditional credit monitoring system with a monthly chargeWhat if the hacker freezes your accounts and gets the PIN?
If Freeze/PIN is the most secure, why isn't that the default security for everyone?
How do you know its actually frozen? Seems like the same jabronis that couldn't keep our data secure are now responsible for keeping our data inaccessible. On top of that, it all depends on a pin # that they're also responsible for trying to keep secure. Sure, here's my money.
Companies pay them to run soft credit requests on you all the time so that they can send you pre-approved offers. If it's frozen, they can't see your credit and those companies don't make money off of you.What if the hacker freezes your accounts and gets the PIN?
If Freeze/PIN is the most secure, why isn't that the default security for everyone?
Freezes don't stop that. (Although you can separately opt out.)
https://www.consumer.ftc.gov/articles/0497-credit-freeze-faqs
so there's 4 places to freeze it at? i thought it was only 3 credit bureaus... what's the 4th one?
They gave a partial answer. It will stop prescreened offers based on your bureau info unless you already have a relationship with that company. Once you have a relationship, they have access to your info. It won't stop unsolicited offers. But if you have no relationship with, say, Wells Fargo, they cannot prescreen you using credit bureau info if you have a freeze.
Is this simply a credit freeze that I can control? What's the catch?
I get that. But why pay $10 with TU, when I can get free protection that I can control. There's gotta be a catch.
It says it locks your credit report. That terminology makes me leery. It doesn't say it is a credit freeze. As credit freeze is pretty standard terminology across all bureaus, they probably chose those words carefully.
Are you sure? I haven't experienced this personally so perhaps I'm wrong but I'm seeing it verified from multiple sources:
They are so much smaller and a lot of creditors don't even report data to them. I'd be surprised if there is any creditor granting credit relying only at an Innovis report. I guess I'm kind of just making fun of them, though. I shouldn't discourage anyone from freezing with them too if they want to be extra careful.
Ah gotcha. Wouldn't that be an ideal place for someone to take a false line of credit out in your name?
You don't get credit from Innovis, they just provide info. I doubt there are lenders that grant credit based only on Innovis info.
I did all four online in under 20 minutes for me and the wife.Andy Dufresne said:
Yes.Andy Dufresne said:
I tried again this morning and it worked fine. Maybe I fat fingered something.Andy Dufresne said:
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