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Post by yogibearbull on Aug 11, 2023 16:52:25 GMT
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Post by anitya on Aug 11, 2023 19:24:41 GMT
My Dad this week received a letter from some service provider (PBI) to TIIA about this data breach. PBI evidently uses MOVEit. It is strange TIIA (with whom my Dad’s business relationship is) has been quite. What is even revealing, though we all suspect, that the private info we provide to large institutions is never private given how much of our service is directly or indirectly outsourced by these institutions. What is disheartening is why these large institutions can not create a dummy customer identifier which is shared with their service provider, rather than sharing the raw information. I hope the US Govt destroys the hacking organizations, even the foreign government sponsored ones.
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Post by yogibearbull on Aug 11, 2023 19:36:04 GMT
On behalf of TIAA, we got letters from PBI informing us of this TIAA breach and offering 2 years of free credit monitoring via Kroll.
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Post by yogibearbull on Aug 24, 2023 12:30:18 GMT
A poster at M* noted that the free credit monitoring offered by Kroll/PBI/TIAA is for 1 credit bureau only. So, I just checked mine by logging into Kroll & under "Services", it says Experian only.
Kroll also offers 3-bureau credit monitoring for-pay.
Disappointing.
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Post by anitya on Aug 26, 2023 20:14:26 GMT
I have a dumb question on this.
If I do not plan to borrow (true for many retirees), should I care about credit monitoring?
What other consequences from this data breach do I need to worry about?
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Post by yogibearbull on Aug 26, 2023 20:47:09 GMT
Credit monitoring will alert you on unauthorized new loan or card accounts. If a hacker has your name, address, DOB, Social Security Number, he/she can go quite far with those.
In fact, often, inactive accounts are targeted - kids' or older people's, even for the deceased ones.
I already had FREE Credit Karma/INTU monitoring that covered Equifax and TransUnion. I also signed up for Kroll/PBI/TIAA that covers Experian.
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Post by roi2020 on Aug 26, 2023 20:59:14 GMT
Implementing a credit freeze may warrant consideration if there are concerns about someone opening new credit accounts in your name. Link
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Post by Deleted on Aug 26, 2023 23:26:11 GMT
After my experience with a fradulent SBA loan made during the pandemic, I think a credit freeze should be everyone's default position. Even if you anticipate applying for credit in the near future, freezing and unfreezing is really no big deal.
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Post by gman57 on Aug 27, 2023 2:59:33 GMT
I have a dumb question on this. If I do not plan to borrow (true for many retirees), should I care about credit monitoring? What other consequences from this data breach do I need to worry about? Exactly --- I've had a credit freeze on my accounts for a long time... no need for monitoring if frozen and if you need a new credit for anything you can unfreeze it for a certain period -- 3 days, 5 days, 7 days and then it's automatically freezes again. I have no idea why anyone would not want their report frozen although as may times as I've told my kids to freeze theirs I know one who hasn't. I think that's because they've never gone through identity theft. My wife had her ssn used by someone. I lost no money but it was nerve wracking getting notices about bogus activity using her ssn for about 2 years. I made many many many calls to the 3 credit bureaus and state officials over it.
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Post by anitya on Aug 27, 2023 5:17:25 GMT
I will have my parents freeze their credit. They use the same credit cards for the past 20 years and do not apply for new ones. once they do it, I too will freeze mine, as data breaches and identity thefts are a fact of life (it seems from yogibearbull's post that even dead people are not spared from identity theft!) It just occurred to me that credit freeze is also a good solution against fraudulent billing even from your approved service providers. Thanks.
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Post by chang on Aug 27, 2023 7:27:47 GMT
Implementing a credit freeze may warrant consideration if there are concerns about someone opening new credit accounts in your name. Link Thanks for the link. I meant to do this a while ago, but never got around to it. Here’s the key information from the linked article: = = = = = How Do You Freeze Your Credit? Freezing your credit begins with contacting each of the credit bureaus: Equifax, Experian and TransUnion. You can make your request by mail, phone or online. If you request the freeze online or by phone, the credit bureau – also known as a credit reporting agency – must place the freeze within one business day. If you make your request by mail, the bureau must place the freeze within three business days. Remember, you must contact all three bureaus to freeze your credit. Placing a freeze with one bureau won't affect your credit report at the other two. As part of the process, the credit bureau will ask you to provide identifying personal information. This includes your name, address, date of birth and Social Security number. Once you've requested a credit freeze, the credit bureau will give you a PIN. Don't lose it because you'll need it to lift the freeze from your credit file. A credit freeze stays in place until you ask the credit bureau to remove it. Luckily, a thaw can happen within one hour if you request it by phone or online. If you mail your request, the credit bureau must lift the freeze within three business days of receipt. You can choose to unfreeze one or all of your credit reports. When you remove the freeze, you will need to contact each bureau separately, as you did when you placed it. You may want to briefly lift a freeze because you are applying for a credit card or a job – some employers check credit before hiring. You can try to find out which credit bureau the issuer or employer will use and save some time by lifting the freeze only with that bureau.
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Post by yogibearbull on Aug 27, 2023 12:15:15 GMT
Credit Reports & MonitoringRelated info about Annual Credit Report: www.annualcreditreport.com/index.actionLaw allows 1 free credit report per year from each credit reporting agency even when there are no credit issues. Law also allows free credit reports after a credit breach/hack. But they don't make free stuff easy. If you go to credit agency sites directly, you are bombarded with for-pay services. For years, I used Annual Credit Report website that provides free access to all 3 from a single portal: Equifax (Atlanta, GA), TransUnion (Chicago, IL), Experian (Dublin, Ireland). Obviously, you must access the free credit reports via the Annual Credit Report portal. BTW, they still try to get you to pay - because while the detailed credit report is free, providing the credit scores is NOT (FICO or Vantage Scores; more use bank-developed Vantage Scores, but FICO is older and better known). Years ago, credit reporting for joint accounts were done only for the primary card holder. This caused huge problems for many couples when the husband, typically the primary account holder, passed away and the wife had basically blank credit histories. Laws were changed so that now the credit reporting includes both joint account holders, and in some cases, even the authorized users. So, now, the credit reports for husband and wife may look almost the same if many credit/loan accounts are joint (I get auto loans in my name only thinking that they can only go after me, but I know better that this alone won't protect my wife from the liability). For years, I had a system whereby I could request a free credit repot once every 2 months (3 credit bureaus, 2 joint people, 3x2 = 6). But I got tired of this. Then I joined free Credit Karma service that provides free credit reports and scores ANYTIME from Equifax and TransUnion. I was concerned when Intuit/ INTU (TurboTax guys) bought Credit Karma that this free service may go away, but so far so good - this service remains free. www.creditkarma.com/BTW, credit reports from each credit bureau look almost the same except for minor variations of format, and any individual loan accounts. But as they say, for credit monitoring, one should use multiple bureaus (all 3, or at least 2). So, when I was offered free credit monitoring for 2 years by Kroll/PBI/TIAA via Experian only, I signed up for that too.
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Post by yogibearbull on Aug 27, 2023 13:46:33 GMT
Credit Freeze vs Lockwww.creditkarma.com/id-theft/i/lock-freeze-credit-filewww.nerdwallet.com/article/finance/credit-lock-and-credit-freezeCredit Freeze is harder, free, covered by law. Credit Lock is optional and convenient service provided by credit bureaus, often at-pay. These may be done online, by phone, by mail. Expect lots of questions about identity etc. You may be given a PIN for easier access in future. You can have Credit Freeze OR Lock, but not both. Both will prevent opening unauthorized new accounts and general credit report access. There are exceptions under Credit Freeze or Lock. Basically, other credit bureaus, law enforcement, collection agencies, etc can access credit reports whether Frozen OR Locked. The idea is that one cannot do fishy stuff under the cover of Credit Freeze OR Lock. The following is from Equifax site, www.equifax.com/personal/help/difference-security-freeze-credit-report-lock/"Exceptions: Freezing or locking your Equifax credit report will not prevent access to your credit report at any other credit bureau. Entities that may still have access to your Equifax credit report include: -Companies like Equifax, which provide you with access to your credit report or credit score, or monitor your credit report as part of a subscription or similar service; -Companies that provide you with a copy of your credit report or credit score, upon your request; -Federal, state and local government agencies and courts in certain circumstances; -Companies using the information in connection with the underwriting of insurance, or for employment, tenant or background screening purposes; -Companies that have a current account or relationship with you, and collection agencies acting on behalf of those to whom you owe an unpaid debt; -Companies that are authenticating your identity for purposes other than granting credit, or for investigating or preventing actual or potential fraud; and -Companies that wish to make pre-approved offers of credit or insurance to you. To opt out of such pre-approved offers, visit www.optoutprescreen.com."
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Post by chang on Sept 1, 2023 22:52:43 GMT
Done - credit freeze with all three agencies. Equifax was by far the hardest; Experian and Transunion relatively easy. About 20 minutes to finish all three.
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Post by anitya on Sept 2, 2023 19:19:15 GMT
chang, I always knew you are good at executing and not procrastinating! Did you just use the links provided in the US News article to reach the three credit agencies? If not, could you please share the links or telephone numbers you used? Also, please share the lessons, if any, you learned from your Equifax experience to make it easier for others as we attempt the credit freeze at Equifax.
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Post by chang on Sept 3, 2023 0:21:21 GMT
No I just googled “<company> freeze” and it took me straight to the right page.
You need to open an account (free) with each company to do the freeze. It’s worth doing, because then you can see your credit rating and other information.
They will all ask various questions to confirm your identity. For some reason Equifax had more trouble than the others, and I had to talk to a human (the other two went through easily enough online). I had to scan my drivers license and take a selfie, but it finally went through OK. I could see online that my credit was frozen with all three companies.
The companies say various things online about identity theft, and it almost seems to me that they are encouraging people to do a freeze.
Anyway, it wasn’t too hard, and I’m glad I did it.
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Post by anitya on Sept 3, 2023 8:00:54 GMT
I did not have any trouble creating an account with any of the three. Equifax is the only one that asked for the entire SS#; the other two only asked for the last four. The Freeze feature is easy to find on Equifax and Transunion. On Experian, after much search, I clicked on the Credit Lock (Premium) feature and from there I was able to access the Freeze feature. I was not able to find a magnifying glass or other search feature on any of the three websites but overall it is easy enough to complete the task. Thanks gman57 and chang Edit: [Duplicated from a later post for reader's convenience.] If one were freezing one's credit with these agencies, I would start with Equifax. At the end of the process, Equifax gives one an opportunity to download one's freeze confirmation but it also gives one weblinks to freeze at Experian and Transunion as well, which one can use to go to those agencies and their freeze pages directly. FYI - Experian calls their credit freeze feature Security Freeze (distinct from their Credit Lock (premium) feature).
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Post by Mustang on Sept 3, 2023 13:00:03 GMT
My wife received notifications from two affected organizations. The hack hit government agencies, insurance companies and many other organization. The day the letter arrived we first verified that it wasn't a scam then enrolled for credit monitoring.
My credit has been frozen (locked?) for over 15 years. Many years ago the Defense Finance Accounting Service was hacked with personal information stolen. IF YOU LOCK YOUR CREDIT DO NOT LOSE YOUR PASSWORDS. Without them its is extremely hard to get them unlocked. Since I haven't needed a mortgage or car loan I simple forgot about it until I moved. Utilities need to check credit and they all use a different credit agency. I had to prove to the three credit agencies who I was and then get my credit temporarily unfrozen. That was days on the phone getting things straighten out.
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Post by Fearchar on Sept 3, 2023 13:10:05 GMT
A Freeze is the way to go and I have had a Freeze in place for about 2 years now.
However, recently a friend convinced me that I should get the CitiBank Double Back card. When I applied, my application didn't go thru because of the Freeze. I unfroze it at Experian, which is who Citi uses and it's now gone thru.
Of course, I wanted to refreeze at Experian, but had a difficult time. Experian is in the business of selling all types of protection and while freezing is free, it was not an immediately obvious how to do that.
Maybe this is just an Experian thing.
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Post by Mustang on Sept 3, 2023 16:30:15 GMT
Experian was pretty good. I didn't have very much trouble getting a 90 day unfreeze with Experian and Transunion. Equifax was terrible. I never got it unfrozen. Luckily the company that used Equifax was the same company that provided service to the old house. I had been their customer 26 years. They waived the credit report.
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Post by anitya on Sept 3, 2023 19:57:45 GMT
When I signed up, all three credit agencies asked for my cellphone number and sent me a code to authenticate who I claim to be. So, with two factor authentication these days, even if one forgets the password for these credit agencies, I imagine it should be easier to get back into the account.
For example, Equifax had a data breach a few years ago and they offered free credit monitoring service for a few years, which I had signed up and has since expired. I thought I could use the same credentials but did not know my password. So, I went through the password retrieval process and Equifax said I do not have an account with them and I ended up creating a new account with them. It was easy to do all that.
If one were freezing one's credit with these agencies, I would start with Equifax. At the end of the process, Equifax gives one an opportunity to download one's freeze confirmation but it also gives one weblinks to freeze at Experian and Transunion as well, which one can use to go to those agencies and their freeze pages directly. FYI - Experian calls their credit feeze feature Security Freeze (distinct from their Credit Lock (premium) feature).
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Post by gman57 on Sept 4, 2023 14:43:06 GMT
A Freeze is the way to go and I have had a Freeze in place for about 2 years now. However, recently a friend convinced me that I should get the CitiBank Double Back card. When I applied, my application didn't go thru because of the Freeze. I unfroze it at Experian, which is who Citi uses and it's now gone thru. Of course, I wanted to refreeze at Experian, but had a difficult time. Experian is in the business of selling all types of protection and while freezing is free, it was not an immediately obvious how to do that. Maybe this is just an Experian thing. You can temporarily unfreeze for a timeframe -- like 3 or 5 or 7 days at all 3 of them and then it will automatically refreeze. That's what I do so no need to go back and refreeze.
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Post by anitya on Sept 17, 2023 6:15:38 GMT
Do you not create a PIN with Equifax when you freeze your credit with them? I forgot what I did when I froze my credit with them. They just let me temporarily unfreeze and did not ask me for a PIN.
(With temporary unfreeze, Equifax automatically freezes your credit the day after the temporary unfreeze expires. I tried to put the freeze back before the unfreeze period expired and there is no option to freeze. May be if I permanently unfreeze they would let me freeze immediately after, but I did not want to annoy the system with my experimentation.)
At Experian, the Freeze feature has a toggle switch for Freeze / Unfreeze. I was able to move it to Unfreeze and immediately back to Freeze without any problem. No PIN was required.
Transunion also allows temporary and permanent unfreezes without a PIN but PIN is required only if unfreezing by phone.
So, all three allow unfreezing and refreezing online without a PIN.
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Post by chang on Sept 17, 2023 8:17:51 GMT
Do you not create a PIN with Equifax when you freeze your credit with them? Transunion also allows temporary and permanent unfreezes without a PIN but PIN is required only if unfreezing by phone. So, all three allow unfreezing and refreezing online without a PIN. I had to create PIN #s with Experian and TransUnion. Only Equifax did not require a PIN.
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Post by yogibearbull on Oct 16, 2023 0:23:19 GMT
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Post by roi2020 on Oct 16, 2023 0:49:52 GMT
"TransUnion will pay $15 million and make 'significant improvements to how it reports evictions,' the CFPB said. Separately, the CFPB is ordering TransUnion to pay $8 million 'for lying to consumers' about requested security freezes and locks requested by tens of thousands of consumers."
"While telling the consumers their requests had been processed, the company allegedly put them instead into a 'yearslong backlog,' according to the CFPB."
Consumers can be severely impacted by errors and misrepresentations made by the three major credit bureaus (Equifax, Experian, TransUnion). A laborious effort may be required to remediate problems caused by these credit bureaus. Equifax, Experian, and TransUnion should be held accountable for their actions.
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Post by anitya on Oct 16, 2023 5:10:25 GMT
This is a joke. $23M is a non-number. And no deferred prosecution to prevent future bad behavior?
We need laws to impose financial penalties on the top X # of officers (and all Board members) of a company for harming consumers.
EU does a much better job of consumer protection. Anybody knows if the EU has such laws in place? May be they do not which makes it easy for US Congress not to worry about such things.
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Post by anitya on Dec 6, 2023 21:49:13 GMT
After I froze my credit, I am still receiving new credit card offers.
So, today I took up on one of those offers and applied for a credit card (to get a sign-up bonus), with a bank I have a banking relationship for over 20 years.
The application was not approved and in their adverse decision letter, the bank cited the following reasons:
Your Credit Score Score: 8XX Key factors that adversely affected your credit score • Lack of recent installment loan information • Length of time accounts have been established
The same bank as part of my banking service tells me one of the reasons for my high credit score is "Age Of Your Oldest Account: 22 years." Of course, I pay off my credit card balances before the due date.
There is no correlation between the reasons and the denial. I will have to spend time to call and ask them never to send me any solicitations.
Interestingly, I just received a new credit card (with sign up bonus) from another bank I also bank with and already have a credit card with. I asked this second bank to just transfer part of my credit limit from the first credit card to the second one with them so not to increase overall credit limit and they thought that was a strange request.
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Post by Deleted on Dec 6, 2023 22:08:05 GMT
After I froze my credit, I am still receiving new credit card offers. So, today I took up on one of those offers and applied for a credit card (to get a sign-up bonus), with a bank I have a banking relationship for over 20 years. The application was not approved and in their adverse decision letter, the bank cited the following reasons: Your Credit Score Score: 8XX Key factors that adversely affected your credit score • Lack of recent installment loan information • Length of time accounts have been established The same bank as part of my banking service tells me one of the reasons for my high credit score is "Age Of Your Oldest Account: 22 years." Of course, I pay off my credit card balances before the due date. There is no correlation between the reasons and the denial. I will have to spend time to call and ask them never to send me any solicitations. Interestingly, I just received a new credit card (with sign up bonus) from another bank I also bank with and already have a credit card with. I asked this second bank to just transfer part of my credit limit from the first credit card to the second one with them and they thought that was a strange request. Freezing your credit and opting out of new offers are separate processes. See ftc.gov consumer.ftc.gov/articles/prescreened-credit-insurance-offersDid you unfreeze your accounts before applying for the new card? I've forgotten that step and have been denied, but the explanation for denial has always been my credit reports were frozen.
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Post by anitya on Dec 6, 2023 22:21:55 GMT
@django ,
I unfroze before applying. Otherwise, the denial would have due to frozen credit reports.
I called the bank and asked them to opt me out of all their internal and external marketing and not to share my information with anyone. They said they have marked my account with my request but Who knows how good they are in keeping their word because I always tell them the same whenever they send privacy options. I think the requests expire once a year (very convenient for them!).
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