Equifax hack

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The Old Man
Posts: 503
Joined: Sat Jun 30, 2012 5:55 pm

Re: Equifax hack

Post by The Old Man »

Credit-Major: TransUnion, Experian, Equifax
Credit-Minor: Innovis, Sagestream, Advanced Resolution Services
Banking: Chex Systems
Other: Lexis-Nexis

You should apply for credit freezes at all the institutions identified above. I consider credit monitoring to be worthless, but a credit freeze to be very worthwhile. Fraud Alerts may have some limited benefit, but a Credit Freeze is superior. Debit cards should only ONLY ONLY ever be used in an ATM. Using Debit cards for purchases dramatically increases the risk that they may be compromised - only use credit cards for purchases - especially online purchases.

Scott 2
Posts: 2824
Joined: Sun Feb 12, 2012 10:34 pm

Re: Equifax hack

Post by Scott 2 »

I knew about the big 3, I had no idea about those others. I'll be setting up a freeze with them as well. Thanks for that.

I looked into what's involved in removing the freeze. Sadly, it seems the same information that was lost, can be used to reset the freeze pin. So it's just another layer of defense.

At this point in my life, I wish I could opt out entirely, a permanent delete and block of my information in all their databases.

RealPerson
Posts: 875
Joined: Thu Nov 22, 2012 4:33 pm

Re: Equifax hack

Post by RealPerson »

My credit reports have been frozen for years and I highly recommend doing that. The minor fee to unfreeze temporarily is a price I am happy to pay for safety. I guess if you apply for dozens of credit cards a year this could become an issue.

Equifax' website said that based on my name and SSN my data were not stolen. Hmmmm. I am not entirely convinced I believe them. Has anyone tried and found that their information was stolen according to Equifax?

suomalainen
Posts: 979
Joined: Sat Oct 18, 2014 12:49 pm

Re: Equifax hack

Post by suomalainen »

@realperson Yes, both me and wife. Waiting a few days to see if the TrustedID website gets kinks worked out as well as pays for freezes at the big 3.

diogenes dog
Posts: 3
Joined: Fri Dec 23, 2016 12:20 pm

Re: Equifax hack

Post by diogenes dog »

My inner contrarian wants to buy some shares. Not cheap enough yet though.

suomalainen
Posts: 979
Joined: Sat Oct 18, 2014 12:49 pm

Re: Equifax hack

Post by suomalainen »

diogenes dog wrote:
Wed Sep 13, 2017 4:10 pm
My inner contrarian wants to buy some shares. Not cheap enough yet though.
+1

Scott 2
Posts: 2824
Joined: Sun Feb 12, 2012 10:34 pm

Re: Equifax hack

Post by Scott 2 »

My wife and I both flagged the check. This is big enough that multiple levels of IT at my large corp have been sending out instructions to staff.

bw_
Posts: 9
Joined: Thu Nov 24, 2016 7:30 pm

Re: Equifax hack

Post by bw_ »

suomalainen wrote:
Wed Sep 13, 2017 4:41 pm
diogenes dog wrote:
Wed Sep 13, 2017 4:10 pm
My inner contrarian wants to buy some shares. Not cheap enough yet though.
+1
:) I shorted and bought to cover Equifax several times on the day of the announcement.

bw_
Posts: 9
Joined: Thu Nov 24, 2016 7:30 pm

Re: Equifax hack

Post by bw_ »

My credit files have been frozen for several years at the big 3, and so, I sleep easy.

Yes, it's inconvenient to temporarily unfreeze to take advantage of credit card offers and to refinance or get new loans, but well worth the effort and cost.

I had not heard of the 3 minor credit bureaus, but will putting credit freezes there too.

George the original one
Posts: 5404
Joined: Wed Jul 28, 2010 3:28 am
Location: Wettest corner of Orygun

Re: Equifax hack

Post by George the original one »

OMG... Equifax (Argentina) is really, seriously, incredibly incompetent!

http://www.bbc.com/news/technology-41257576

Gilberto de Piento
Posts: 1942
Joined: Tue Nov 12, 2013 10:23 pm

Re: Equifax hack

Post by Gilberto de Piento »


RealPerson
Posts: 875
Joined: Thu Nov 22, 2012 4:33 pm

Re: Equifax hack

Post by RealPerson »

I am not buying. Between the pending lawsuits, possible congressional action and the loss of business I am not convinced they will survive.

You could buy a small amount of shares if you enjoy a rollercoaster or like going to a casino. 😀

The Old Man
Posts: 503
Joined: Sat Jun 30, 2012 5:55 pm

Re: Equifax hack

Post by The Old Man »

https://www.wired.com/story/equifax-breach-no-excuse/

It looks to be a single point failure. Security systems design lacked a defense in depth. Extremely poor design which I believe is commonplace.

SavingWithBabies
Posts: 882
Joined: Mon Aug 31, 2015 2:50 pm
Location: Midwest, USA

Re: Equifax hack

Post by SavingWithBabies »

So in the last couple months, I've started to get way more credit alerts when my report changes. A couple weeks ago, I opened up a new card and I got reports of it from 2-3 other credit card companies (Chase, Discover, maybe Citi) and from Credit Karma. So all the services and cards/banks seem to be stepping up and offering more alerts on credit report changes.

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