Data breach at Equifax

[Brando]

Best to keep your credit frozen until you actually need credit for something. Existing lines are unaffected.

[ossiblue]

Originally Posted by MattKellett

What's the general consensus if your credit wasn't effected by the security breach?

We checked ours a while ago, finding that it hadn't been compromised, but now I'm thinking it's just best to freeze our credit anyway.

I can't see a downsize for freezing it and it makes me wonder why even before the breach we don't just keep our credit frozen.

Don't know if this is the general consensus, but here's my take.

First, you cannot trust the Equifax claim that you have not been compromised. I checked the site several different times, over a period of weeks, and found that sometimes they claimed I was compromised and other times I was not compromised. Same for my wife's credit. There was no consistency.

Second, your credit is not the only thing to worry about, identity theft is probably a larger concern. Equifax does offer a free protection program for identity theft, but it is not very comprehensive compared to others that are out there. Still, it is better than nothing. Hacked information can still be used to establish legal and financial liabilities in your name that have nothing to do with your credit. This is a risk that anyone in the Equifax database must face for the rest of their lives.

Third, I see no downside in freezing your credit reports with all three agencies. If you know you need the report accessed, you can simply unfreeze it with a phone call. Some agencies will charge for the service, others not, depending on your age and the state in which you live.

It is up to each individual to do as much as possible to protect his identity and credit. No organization will do enough. The horse has left the barn.

[john70t]

Originally Posted by ossiblue

Equifax does offer a free protection program for identity theft, but it is not very comprehensive compared to others that are out there.

Didn't know there was a free one out there...
There should be.

I did have a laugh when hearing their bold commercials about being the 'knight in shining armor', to gallop in to the rescue and save you, whenever something goes wrong in life and the bad people somehow get ahold of your personal information.