Equifax Data Breach Settlement

[Gman]

Interesting that the acceptance of the cash payout includes certifying that you have monitoring through another source for at least 6 months from now.

[Bailey Guns]

I do have monitoring from another source...me. I check my own stuff almost daily. And I don't have to worry about my information getting hacked that way. These credit bureaus are the devil.

[Aloha_Shooter]

Interesting that the acceptance of the cash payout includes certifying that you have monitoring through another source for at least 6 months from now.

Damage limitation. They're paying you a pittance now so any further breaches fall on the shoulders of whoever else is monitoring for your identity protection. Alternatively, you can take no cash at all for prior breaches and accept their offer of limited future monitoring. I'm pretty annoyed that DOJ settled for this POS agreement on this case but seems to have energy to go after BS cases.

[FoxtArt]

Just out of curiosity, anyone who is signing up for their credit monitoring, do they request to have a CC on file so they can bill you after the expiration of your "free" term?

By appearances this deal is setup to earn them a profit, look nice in the media, while costing nothing. I wouldn't be too suprised if nobody gets a cash payment, because the cost of "visa cards" alone will exceed the $31 Million dollar fund without loading a single penny onto any of them, a judge will probably rubber stamp a motion to call that exhausted. So they get to have Millions of people enroll in a service that doesn't actually cost them virtually anything to "perform", they get to pay themselves for doing it, and then, at the end of the term, I'm betting a lot of people get auto-billed some crazy fees.

Ahhh, the American way.

[TFOGGER]

Allegedly, I am "not affected by the breach". To say I'm skeptical would be an understatement.

[Irving]

Did this breach affect business credit?

[TFOGGER]

Did this breach affect business credit?

Not that I am aware of. Dun and Bradstreet seem to have a lock on that portion of the industry.

[Jer]

In related news, you can freeze your credit reports with all free bureaus for free. Details over on this thread as to not derail this conversation.

[Gman]

Just out of curiosity, anyone who is signing up for their credit monitoring, do they request to have a CC on file so they can bill you after the expiration of your "free" term?

By appearances this deal is setup to earn them a profit, look nice in the media, while costing nothing. I wouldn't be too suprised if nobody gets a cash payment, because the cost of "visa cards" alone will exceed the $31 Million dollar fund without loading a single penny onto any of them, a judge will probably rubber stamp a motion to call that exhausted. So they get to have Millions of people enroll in a service that doesn't actually cost them virtually anything to "perform", they get to pay themselves for doing it, and then, at the end of the term, I'm betting a lot of people get auto-billed some crazy fees.

Ahhh, the American way.

There was an option to maintain single bureau monitoring after the free 3 bureau monitoring expires. I'm not sure if they would charge for that or not.

[brutal]

In related news, you can freeze your credit reports with all free bureaus for free. Details over on this thread as to not derail this conversation.

Yup, everyone should keep them locked. Mine are always locked/frozen. I can login to Trans and unlock Trans/Equifax quickly. Experian isn't playing ball with the multi-bureau lock program so I have to login to Experian and unlock a little less quickly with their PIN process.

Regardless, my digits were involved in the Equifax data breach, so I filed a claim.

Be interesting to see how Capital One thing shakes out. I don't currently carry anything with them (I don't carry any CC balances), but have in the past - interest free furniture card, etc. I always paid off way early.