Right? I only need credit for toys... If all the funny money goes tits up then I guess I'll just have to live within my means.
Equifax breach exposes 143 million people to identity theft
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For those freezing their credit reporting with the “big three”, you may want to consider adding Innovis Credit Reporting agency to your list (making it the “big four”?). Freezing your credit via their website is relatively painless except as a matter of security protocol, they snail mail the PIN code to you - so it’s not an instantaneous thing.
Per your opinion, “it’s on them”. The problem with that opinion is, the grief will fall on you, should you be unfortunate enough to become an actual victim of identity theft. No consumer “asked them” to collect the information they maintain on you - that’s not how credit lending works. The business entities that extend you credit for purchasing their products are who report the information to those credit bureaus so they have what effectively is a central collection point to know your credit trustworthiness for future consideration. Now, if you’ll never need credit in the future (i.e., paying cash for everything you may intend to buy in the future), then I suppose, the actual reporting of credit in your name can be much less important to you. However this may not stop actual legal expenses from your lawyer as he or she does the fighting to prove you don’t owe company xyz some amount of money they loaned the actual person who stole your identity, based on your credit worthiness. Unless that “good attorney” is your son or daughter, they likely won’t be free.... so good luck with that head-in-the-sand approach. It may actually work for you, after all, what are the odds out of 143M, that YOU would be a victim?
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Wonder if this will be the pin for the credit bubble? We as a society have lived with readily available credit in part because we have these reporting agencies make it easy for businesses to evaluate your credit worthiness. The result is that Best Buy, Amazon, Apple, Samsung, you name it gets to sell piles of inventory at higher margins cause people think monthly payment. If a high enough # say FU and lock their credit, what happens to these industries making a killing?
TAZ, I think nationally, all the credit reporting agencies are likely to see the largest number of consumers ever, in their business history, lock their credit files as a result of the Equifax screw up. However I’m not sure this will have a lasting effect, long term. The problem is, you’re dealing with consumers’ psychology of “desire” (for material things). Shiny new car, latest model iPhone, keeping up with the Jones, etc., etc. You might say, this is a significant aspect of our modern society the retailers and manufacturers, rely on. In other words, a “consumer-based” society for things more than just life’s necessities. Apparently, controlling the ‘want’ or ‘desire’ is more than most people have the ability to do.
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Locking your credit doesn't effect existing credit lines you have; it just add an additional step you have to do when applying for new credit. Maybe it'll make people give a second thought to opening new credit, but I don't think it would slow down credit spending at all.
The real debt bubble isn't made up of personal debt, anyways
The real debt bubble isn't made up of personal debt, anyways
I've already been a 'credit fraud' victim a few times, and each time whose best interest is it to get that fixed? Hint - I'm second on the list.
Credit only works if you can convince a worthy consumer to use it. Why on Earth do you think the whole credit business got so big? Because people "have" to acquire things they can't actually afford. Nobody buying stuff above their means, no need for credit. Pretty much that simple when you strip it down to the brass tacks.
Any time I go to darned near any retail establishment, they're throwing credit offers at me. There is nary a day goes by without getting 1 or more often multiple "pre qualified" credit offers in the mail. Seems the reason American Express charges a yearly membership fee is because they already spent it on postage lol. They aren't doing this out of the goodness of their hearts, right?
Don't take that to mean I don't utilize credit, because I do. I bought my home with a mortgage, because I like to live in a bigger home than I can pay cash for. I bought my car on a 0% interest loan. I use a credit card for everything, because of the reward points. But, I live well in the black. Were 100% of the credit I've used immediately come due and no more be available, I'm sitting on enough cash and investments to pay off every outstanding penny with reserves. So to answer your question, I'm not at all taking a head-in-the-sand approach. I'm working from a solid position from a risk standpoint. I do stay VERY on top of my credit reporting, and I'm very quick to get the responsible party acting to fix these types of problems I didn't create. Law changes have also made it much easier for a consumer to not only recover the damages, but positively influence their credit report should something bad happen. To date, each instance of fraud has been very quickly dealt with, with no more than a phone call on my end.
That’s Spoof site story is hilarious ! Those IT people at Equifax are like watching The Keystone Cops.
Wonder if the guy who set up the Spoof site will get in trouble? (Not sure what for... but in any case, he sure proved his point!).
Wonder if the guy who set up the Spoof site will get in trouble? (Not sure what for... but in any case, he sure proved his point!).
“And three Equifax executives sold large chunks of stock after the company learned about the hack but before it went public. The company has said those executives did not know about the breach.”
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Now that thar is funny.... I don’t care who ya are!
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WHERE is the SEC when ya need them???
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Now that thar is funny.... I don’t care who ya are!
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WHERE is the SEC when ya need them???
I just got an email alert about a problem with my Capitol One account
They provided a link for me to use in order to see what the problem was.
Except, I don't have a Capitol One account.
Obvious scam was obvious....
They provided a link for me to use in order to see what the problem was.
Except, I don't have a Capitol One account.
Obvious scam was obvious....
I posted in the quote, for some reason it's not allowing me to edit (that's on my end no doubt)
I'll repost here in response to Cam posting about the Capitol One offer....
I received the same as well even years before all this came to light. I've even gotten emails from what looks like my bank, however they were sent to an address that was never used for my actual bank which was the first red flag
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