Equifax Breach Questions

LogoFan · ‎03-11-2010

I have read so many articles and forums my head is spinning.

In simple terms, is Equifax offering actual identity theft insurance free for one year that will actually insure me if my identity is stolen up to one million dollars coverage (or to what amount if anyone knows)?

How does the free credit monitoring work? Is it similar to a fraud alert (which I just placed)? If not, exactly what actions will be taken while my credit is monitored by them, i.e., emails, phone calls, etc?

Just want to get clarity.

Just wanted to add something here I heard on ABC Chicago news this week.

"add extra later of protection by:

Activating 2 layer protection on credit cards, mobile banking and home equity line of credit"

This will provide password + code that is texted to your cell phone, or password + scan of your fingerprint."

I will look into credit card 2 layer, but I do not text on my cell phone - just have a simple flip phone (nothing fancy). Hoping that my credit card companies might do email to me at my home computer instead. Need to make phone calls.

Thanks for any answers to my questions in basic simple terms.

Thanks.

Cats3000 · ‎10-07-2013

We have placed credit freezes on our accounts at the 3 major credit reporting agencies. That appears to be the best way to secure your accounts.

Laura14 · ‎06-09-2014

@LogoFan I found an article that lays it out, sort of. Just google Trusted ID Premier.

Trusted ID Premier from Equifax monitors your credit report for all three major bureaus, your social security number, and offer 1 million dollars identity theft insurance in case you get compromised.

According to the article, unless there is a major change in your credit report, they probably won't catch it. I signed up anyway since it's free but also have locked down my credit reports years ago plus I have free monitoring through AAA.

If you haven't locked down your credit reports, @Cats3000 is correct. That's the best way to protect yourself.

LogoFan · ‎03-11-2010

@Laura14 wrote:
@LogoFan I found an article that lays it out, sort of. Just google Trusted ID Premier.

Trusted ID Premier from Equifax monitors your credit report for all three major bureaus, your social security number, and offer 1 million dollars identity theft insurance in case you get compromised.

According to the article, unless there is a major change in your credit report, they probably won't catch it. I signed up anyway since it's free but also have locked down my credit reports years ago plus I have free monitoring through AAA.

If you haven't locked down your credit reports, @Cats3000 is correct. That's the best way to protect yourself.

"Laura14" thanks for information. I will look at that article. I have already just placed fraud reports with the credit bureaus, so I am tied up there for at least 90 days. Really hated that there are fees to do the freeze, temporarily lift, and then replace the freeze, was not crazy about it. Am not planning to open any new accounts, but still just a little unsure about the freeze.

Thanks again.