Equifax changes fine print for TrustedID Premier free credit monitoring

  • Equifax changes fine print for TrustedID Premier free credit monitoring

Equifax changes fine print for TrustedID Premier free credit monitoring

By now, you'll have heard about the breach at Equifax, leading to the leaking for PII relating to about 143 million people in the US, Canada and the UK.

Attorney Roy Hadley said the company took an unusually long time to notify the public of such a major breach, possibly because it was asked to delay notice by law enforcement officials investigating the incident.

That's leaving millions of Americans scrambling to figure out how to respond to the security breach and the threat of having their identities stolen. "Every Hawaii resident should take precautions such as placing a freeze on their credit report to reduce any damage likely to occur because of Equifax's massive data breach".

Other experts, noting that the Equifax site itself may not be secure nor accurate enough, suggest simply assuming your information got stolen, and go to the next step: Have a credit "freeze" applied to their accounts to prevent new credit from being issued without their permission.

When the Red Cross Blood Service suffered a leak past year, one of the things they did particularly well was to notify all affected parties by email, SMS and through the media. But, that's about all you can really do.

Consumers have been frantically Googling for information on Symantec's LifeLock consumer identity theft protection unit, according to Credit Suisse analyst Brad Zelnick, who analyzed search trends from Alphabet Inc.

There was a catch: the supposedly free service required credit card information up front and would begin charging the card after the free trial ended unless users proactively canceled, according to terms of use for the product dated September 6. "Free credit freezes for those affected". The company says the service will search suspicious sites for your Social Security number, give you access to your Equifax report and other offerings.

It could take years for the credit reporting company to end the legal fallout from the unprecedented breach. This security event should serve as a sobering wake up call to multinational organizations and any other organization collecting, processing, storing, or transmitting personal data of European Union citizens of the protocols they must have in place to respond to security breaches under GDPR requirements.

Check with Equifax if you were impacted by the breach.

Equifax is asking for your last name and the last 6 digits of your social security number on the website to determine if you have been a victim. Often, victims of identity theft can freeze their credit at no charge. Fraud alerts are free, but they don't lock down your credit.

But considering the size and scope of the breach, it's probably better just to assume you were part of it. A fraud alert lasts 90 days and can be renewed. "Your credit worthiness is associated with records Equifax obviously keeps and it is an Atlanta-based company so it's not quite a great thing for the city of Atlanta". There are competing services, such as LifeLock, but they charge for monitoring, which some consumers may not feel is justified. If someone else goes to take out a loan in your name, the lender will not be able to pull your report and therefore can not extend the credit. Many credit-card companies and other financial services firms now offer free monthly or quarterly credit reports.

The BBB is always there to help you.

-Regularly check your reports at annualcreditreport.com and monitor your accounts closely for suspicious transactions.