My Credit is Impenetrable

[s0me0nesmind1]

.... Because I probably have 5+ credit monitoring services actively monitoring it lol.

Wondering if this is just me - it seems like every 4-6 months there is another data breach of some kind from some bank/credit card/utility/medical/<insert any> industry that leaked my data and is offering 12 months of credit monitoring service.

I'm halfway joking, half not. I really have gotten a ton of stupid data breach letters over the years. I do have a ton of these credit monitoring services. My latest one I just got a letter on was one of my company benefit services that had a breach.

Overall I've found these services to be entirely useless. They basically run soft-credit checks and see what your new activity is from time to time and alerts you. Basically what credit karma does for free.



If I recall the only thing the service really offers is some kind of insurance policy if someone does actually try to open new accounts and fraudulently use your credit.

Anyone else seem to get these a ton too or is it just me?

 

[Spacehead]

Either i've been lucky or no one is informing me.

 

[Red Squirrel]

I sometimes wonder if these breaches are done on purpose just so they can make money selling credit monitoring services. Companies need to be held liable for breeches but they are not, so there is no reason for them to put any effort in preventing it.

Just look at the Equifax breach. It's pretty much a closed book forgotten thing despite the fact that it's a sleeping time bomb. That info is out there on the dark net, just a matter of time until hackers start actually using it.

 

[ponyo]

Credit freeze is free and the most effective tool. Credit monitoring can help but nothing beats a freeze. You're still at risk with credit monitoring. I don't care if you have 10 companies monitoring your credit. It's not good as a simple freeze.

 

[ultimatebob]

Try skipping a few mortgage payments... we'll see how invincible your credit is then

 

[s0me0nesmind1]

Credit freeze is free and the most effective tool. Credit monitoring can help but nothing beats a freeze. You're still at risk with credit monitoring. I don't care if you have 10 companies monitoring your credit. It's not good as a simple freeze.

I understand and would partake... But I love churning credit card signup bonuses more. Pretty much by the end of the year I make a good $5k or so.

 

[highland145]

Pm me your name/city and I will show you how sieve like your credit is.

 

[Exterous]

Pm me your name/city and I will show you how sieve like your credit is.

Yeah watch out for his free book shipment

 

[highland145]

Yeah watch out for his free book shipment

😮

So not to blame for your move.

Poor ho, sub flo, preservation was the issue.

 

[spacejamz]

I understand and would partake... But I love churning credit card signup bonuses more. Pretty much by the end of the year I make a good $5k or so.

Freezing/unfreezing your accounts at the 3 bureaus is pretty painless nowadays...it can be done easily online and is free for all 3 of them (experian, transunion and equifax...)

 

[bbhaag]

nvm....

 

[compcons]

Didn't the Lifelock CEO put his social security number in a commercial and subsequently have his identity stolen?

 

[s0me0nesmind1]

Didn't the Lifelock CEO put his social security number in a commercial and subsequently have his identity stolen?

Wouldn't surprise me. Ultimately boils down to being targeted. At this point I figure most peoples identity is a dime a dozen online with how many database leaks we have had.


The question is if anyone would specifically target you - not just to the point of randomly trying a credit application under your identity, bit rather putting all focus on your specific SSN.

The chances of that seem highly improbable unless you go blathering it online and say the equivalent of "Hey guiz, come target me!!!"

 

[snoopy7548]

I've got freezes on everything - there's no substitute for it. I refinanced my mortgage a few months ago and unfreezing my credit at all three bureaus only took about five minutes. You can just do it through their website, and you can set it to re-freeze after a certain time period.

 

[Brainonska511]

Credit freeze is free and the most effective tool. Credit monitoring can help but nothing beats a freeze. You're still at risk with credit monitoring. I don't care if you have 10 companies monitoring your credit. It's not good as a simple freeze.

I agree. Freezes are free, provide legal protection, and are easy to schedule temporary lifts when you want to apply for new things that need credit checks.

 

[ponyo]

Didn't the Lifelock CEO put his social security number in a commercial and subsequently have his identity stolen?

13 times and possibly more.

https://www.wired.com/2010/05/lifelock-identity-theft/

Honestly, he's liable since was negligent and published his social security number on purpose for anyone to steal. That's like intentionally giving your bank debit card to thieves and saying to the bank afterwards you didn't know they would withdraw money and charge stuff. You can ask for money back from the banks but the banks will hold you liable and not refund you in that case.

Lifelock is a scam business. Instead of protecting you from crooks, Lifelock is the crook robbing you of your money with reoccurring monthly charges for their useless service. It's like letting the fox guard the henhouse.

 

[JEDI]

Freezing/unfreezing your accounts at the 3 bureaus is pretty painless nowadays...it can be done easily online and is free for all 3 of them (experian, transunion and equifax...)

thought unfreezing costs $10 each time?

 

[Kaido]

I go the protection + automation route:

* Credit freeze
* Credit monitoring
* Use Privacy.com for online purchases
* Use a credit card for meatspace purchases
* Auto bill pay for bank account (nothing else touches it, for protection)
* Turtlesaver for saving up for random stuff
* Burner email accounts for junk & business stuff

 

[Svnla]

In other news, you can get your credit reports (NOT scores) for free from the big 3 bureaus weekly (I would do it monthly) until April of 2022.

Free weekly credit reports during COVID extended until April 2022 | FTC Consumer Information

.

 

[njdevilsfan87]

Since I purchased a new home and car within the past year and have no planned large finances for a while, I've frozen my credit and the big 3 beaurues and Innovis and ChexSystems. I also have Credit Journey setup on Chase. It provides a nearly up to date summary for everything that's tied to your name, and notifies you when anything new pops up.

 

[zinfamous]

I get emails from previous employers somewhat regularly about it and yes, the same "free credit monitoring systems."

The two times I've accepted the services, I've discovered that these are really no more than advertising platforms for their service....whatever it is. I have no idea what they actually do other than send spam to my email every once in a while.

 

[IronWing]

Having good credit just makes you a target. Skip some payments, protect yourself.

 

[highland145]

Having good credit just makes you a target. Skip some payments, protect yourself.

That will make him a target too....😀

 

[IronWing]

That will make him a target too....😀

Yeah but you’re the devil we know and love.

 

[FelixDeCat]

I had an idea after having my credit card data skimmed from a gas pump (I think) or someone took a picture of the front and back when I could not see them at a drive through.

After getting a fraudulent charge for $325 in gas at a place I've never been to, I was thinking I cant stop the skimmers but I might be able to thwart the picture takers buy obscuring the 3 digit code on the back of the card.

Dont know if this helps or not, but I figured why not.