So what are you guys doing about the Equifax breach?
- Thread starter ptatohed
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ptatohed
Licenced to Spell
FYI.
The absolute best thing to do to protect yourself is to freeze your credit. But there might be a small to moderate fee (depending on state) and it can be a future inconvenience. To put a freeze on your credit, contact the three major credit bureaus (Equifax, TransUnion, Experian) and make the request (three separate requests). What it does is freezes your credit so that no (including you) can apply for credit in your name until the credit is thawed. When you make the request to freeze, you'll be give a (10-digit, I believe) PIN number used to thaw/freeze your credit in the future. In principal, no one can apply for credit under your name/social security # until your credit is thawed using this PIN.
It can be an inconvenience because you, yourself, can't easily apply for credit. Ex. You're at Jerome's and they have a 60 month same as cash deal going on if you apply and buy that 3-piece sectional with end tables today. Well, you can't apply until your credit is thawed. I'm not sure how quick credit is thawed after you make the request. Maybe you can do it instantly with your smart phone? Or maybe it takes a few days after the request is made. I am not sure. So, you can see the inconvenience. Want to apply for a new credit card? Thaw, apply, get approval, re-freeze. Need a home loan or a refi? Thaw, shop, apply, wait til you're approved, re-freeze. And so on. For the rest of your life.
Lastly, depending on the state, it may cost some money to freeze your credit. Some states are free, some states collect a token amount, and - of course - California charges the most. In CA, it costs $10 per bureau to freeze your credit. So, $30 total. However, because of Equifax's horrendous blunder, they are waiving their $10 so, $20 to freeze your credit in CA. What I am not sure about is if you need to pay again each time you thaw and re-freeze your credit or if it is a one-time cost and once you get your PIN #, you are good for life.
Anyway, if you don't mind the small cost and the potentially big inconvenience, you might consider freezing your credit as a good option.
The absolute best thing to do to protect yourself is to freeze your credit. But there might be a small to moderate fee (depending on state) and it can be a future inconvenience. To put a freeze on your credit, contact the three major credit bureaus (Equifax, TransUnion, Experian) and make the request (three separate requests). What it does is freezes your credit so that no (including you) can apply for credit in your name until the credit is thawed. When you make the request to freeze, you'll be give a (10-digit, I believe) PIN number used to thaw/freeze your credit in the future. In principal, no one can apply for credit under your name/social security # until your credit is thawed using this PIN.
It can be an inconvenience because you, yourself, can't easily apply for credit. Ex. You're at Jerome's and they have a 60 month same as cash deal going on if you apply and buy that 3-piece sectional with end tables today. Well, you can't apply until your credit is thawed. I'm not sure how quick credit is thawed after you make the request. Maybe you can do it instantly with your smart phone? Or maybe it takes a few days after the request is made. I am not sure. So, you can see the inconvenience. Want to apply for a new credit card? Thaw, apply, get approval, re-freeze. Need a home loan or a refi? Thaw, shop, apply, wait til you're approved, re-freeze. And so on. For the rest of your life.
Lastly, depending on the state, it may cost some money to freeze your credit. Some states are free, some states collect a token amount, and - of course - California charges the most. In CA, it costs $10 per bureau to freeze your credit. So, $30 total. However, because of Equifax's horrendous blunder, they are waiving their $10 so, $20 to freeze your credit in CA. What I am not sure about is if you need to pay again each time you thaw and re-freeze your credit or if it is a one-time cost and once you get your PIN #, you are good for life.
Anyway, if you don't mind the small cost and the potentially big inconvenience, you might consider freezing your credit as a good option.
Dexman PE PMP
Internationally PMP'n his PE-ness
I may freeze my credit. NZ has it's own, completely separate, credit system and ignores everything in the US. We're paying off the last of our US debt, so it only makes sense to shut it down.
knight1fox3
Jedi MASTER & Friend of Capt. Solo
So our insurance provider (AmFam) is now advertising that they provide credit monitoring for $40/yr. Which doesn't seem too exorbitant for some extra peace of mind. Does anyone else have anything similar in place? This is something I've paid a lot of attention to in the past. But with all the recent data/security breaches, perhaps is should be a higher priority now. :dunno:
Master slacker
Something awesome.
We're both affected, but I'm not doing anything. Most "of age" Americans are impacted. Chances are not likely that anything would happen to us in the next year or so (amount of free credit monitoring from Equifax or whatnot). I get our credit reports every year from annualcreditreport.com and I have never had an issue throughout all the breaches. Not worried.
knight1fox3
Jedi MASTER & Friend of Capt. Solo
Well hopefully you used the EB.com Amazon link for your spending binge. :thumbs:I opened up a bunch of cards and have been buying a metric **** ton of stuff and then I am going to say it wasn't me
I hope you haven't been delivering to your house. If you have, install one of those video doorbells, and have one of the kids put on dark clothes, cap, and glasses, and have them "steal" your deliveries off the front porch...I opened up a bunch of cards and have been buying a metric **** ton of stuff and then I am going to say it wasn't me
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