Author Topic: Equifax Sacks 2 Executives, Gets Devious to Stop You from Getting a Credit Freez  (Read 9840 times)

Offline ludmila

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Aug 2012
  • Posts: 5147
  • Total likes: 271
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: IND
  • Programs: Hilton Diamond,Marriott Platinum,SPG Platinum.
They’re terrified a mass credit freeze will crush revenues.
So a day or two ago, Equifax changed its page for initiating a “security freeze” to make it a lot harder for consumers to get a security freeze (aka credit freeze).

Credit bureaus are required to offer a security freeze. But they’re not required to make it easy. Credit bureaus sell consumer data to other companies. When you try to open an account at a bank or credit card company, that company will check your credit worthiness via the data obtained from credit bureaus. If someone obtains your data that was stolen from Equifax, he can open an account in your name and borrow money in your name, and you get to fend off the creditors when they chase after their money, and your credit will be ruined too.

Identity theft is a nightmare to resolve. The best prevention is putting a security freeze at the three major credit bureaus: Equifax, TransUnion, and Experian.

A credit freeze makes this form of identity theft nearly impossible because banks and credit card companies that cannot verify the applicant’s credit history will not open a new account. And since your stolen data will be out there forever, you need to protect yourself for the rest of your life.

But to make it even harder to obtain a security freeze, Equifax put a huge distracting red button on the top center of the security-freeze page. It takes you to a page full of other stuff where a security freeze is mentioned only at the bottom, but without link.

This is what the devious button looks like that you do not want to click:



Instead, scroll past the devious red button. Now the security-freeze section appears that used to be at the top. And it provides the appropriate link. But most people will never see it because they were deceived by the devious red button.

Under withering pressure and allegations of profiteering from its victims’ plight, Equifax announced that credit freezes will be free until November 21, and that consumers who paid for it starting at 5pm EST on September 7 will receive a refund.

TransUnion has become even more devious in trying to prevent consumers from initiating a security freeze and denting its revenues. Its old credit-freeze page that I’d linked in my September 7 article — and that subsequently major media outlets and State Attorneys General linked in their communications – was changed a couple of days ago.

Now that page goes through all kinds of blah-blah-blah. You have to scroll all the way down to get to the very last paragraph to find the first mention of a “credit freeze” and the new link where you can initiate the credit freeze. But even on that “credit-freeze2” page, TransUnion is trying to talk you into a “security lock” instead.

Experian has not yet changed its security freeze page.

This deviousness is a sign these companies are terrified that a mass credit freeze will hit their revenues and shares. And this isn’t a short-term blip. This is for life.

Banks, credit card companies, and other Equifax customers squeal. Consumers (the product) squeal. Congress squeals. Investors squeal. Read… The Crushing of Equifax


I was the Best,still the Best, and will always be the Best.
Pele Good,Maradona Better, George Best.

Offline a mirrer

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Dec 2014
  • Posts: 1303
  • Total likes: 51
  • DansDeals.com Hat Tips 10
  • Gender: Male
    • View Profile
  • Location: israel

Offline myi

  • Dansdeals Lifetime 20K Presidential Platinum Elite
  • ********
  • Join Date: Feb 2015
  • Posts: 23540
  • Total likes: 2427
  • DansDeals.com Hat Tips 356
  • Gender: Male
    • View Profile
  • Location: InMyPants! 🙈
  • Programs: 2Many2List!
source?
I guess go to each of those sites and see how easy or hard it is to find the credit freeze application.
Quote
Need your LG Exalt fixed? Cracked in half? Water damage? Or parts to repair yourself. 347.201.2501

Offline noturbizniss

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Dec 2012
  • Posts: 7116
  • Total likes: 140
  • DansDeals.com Hat Tips 4
  • Gender: Male
    • View Profile
  • Location: North Jersey
Can you at least post where this article is from?
READ THE DARN WIKI!!!!

Chuck Norris...
...can still do FT method
...READS THE WIKI!!!

Offline TimT

  • Dansdeals Lifetime 20K Presidential Platinum Elite
  • ********
  • Join Date: Dec 2013
  • Posts: 22077
  • Total likes: 7130
  • DansDeals.com Hat Tips 12
    • View Profile
Can you at least post where this article is from?
This is the first result I got

Offline ludmila

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Aug 2012
  • Posts: 5147
  • Total likes: 271
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: IND
  • Programs: Hilton Diamond,Marriott Platinum,SPG Platinum.
I was the Best,still the Best, and will always be the Best.
Pele Good,Maradona Better, George Best.

Offline churnbabychurn

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Jul 2012
  • Posts: 7355
  • Total likes: 301
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: Lakewood
Is it necessary to freeze all 3?

Offline ludmila

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Aug 2012
  • Posts: 5147
  • Total likes: 271
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: IND
  • Programs: Hilton Diamond,Marriott Platinum,SPG Platinum.
This is the first result I got
Correct, thanks.
I was the Best,still the Best, and will always be the Best.
Pele Good,Maradona Better, George Best.

Offline ChaimMoskowitz

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Jun 2014
  • Posts: 6738
  • Total likes: 1097
  • DansDeals.com Hat Tips 1
  • Gender: Female
    • View Profile
How does a credit freeze hurt the bottom line?
I just found a new supply of forks!

Offline ludmila

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Aug 2012
  • Posts: 5147
  • Total likes: 271
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: IND
  • Programs: Hilton Diamond,Marriott Platinum,SPG Platinum.
How does a credit freeze hurt the bottom line?
I never did a credit freeze, but I do not think it will hurt .
I was the Best,still the Best, and will always be the Best.
Pele Good,Maradona Better, George Best.

Offline ludmila

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Aug 2012
  • Posts: 5147
  • Total likes: 271
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: IND
  • Programs: Hilton Diamond,Marriott Platinum,SPG Platinum.
How does a credit freeze hurt the bottom line?
lifting a credit freeze takes a few days before it’s effective. No biggie.
I was the Best,still the Best, and will always be the Best.
Pele Good,Maradona Better, George Best.

Offline Ephraimh

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Oct 2013
  • Posts: 1526
  • Total likes: 64
  • DansDeals.com Hat Tips 2
    • View Profile
  • Location: nyc
Equifax Sacks 2 Executives, Gets Devious to Stop You from Getting a Credit Freez
« Reply #11 on: September 17, 2017, 02:33:48 PM »
IMHO the new industry standard should be password protected credit files, basically, no one with your personal info should be able to obtain your file unless they have your password which unlike your DOB and SS you can constantly change and upgrade

Offline hocker

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Oct 2009
  • Posts: 3501
  • Total likes: 85
  • DansDeals.com Hat Tips 5
  • Gender: Male
    • View Profile
How does a credit freeze hurt the bottom line?
I'm assuming lenders etc pay for access to your credit report but if it's frozen they don't get access to it. Makes sense?

Offline ludmila

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Aug 2012
  • Posts: 5147
  • Total likes: 271
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: IND
  • Programs: Hilton Diamond,Marriott Platinum,SPG Platinum.
I'm assuming lenders etc pay for access to your credit report but if it's frozen they don't get access to it. Makes sense?
Yes. Good summary.
I was the Best,still the Best, and will always be the Best.
Pele Good,Maradona Better, George Best.

Offline ChaimMoskowitz

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Jun 2014
  • Posts: 6738
  • Total likes: 1097
  • DansDeals.com Hat Tips 1
  • Gender: Female
    • View Profile
I'm assuming lenders etc pay for access to your credit report but if it's frozen they don't get access to it. Makes sense?
Thanks because the other two responses had me scratching my head.  :)
I just found a new supply of forks!

Offline ludmila

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Aug 2012
  • Posts: 5147
  • Total likes: 271
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: IND
  • Programs: Hilton Diamond,Marriott Platinum,SPG Platinum.
It will keep getting worse for Equifax and the rest of the credit bureaus. I guess this could be the BIG SHORT of the year.If it breaks 90 Ill short EFX and keep a trailing stop.

https://wolfstreet.com/2017/09/17/wells-fargo-recommends-credit-freeze-in-equifax-hack/
I was the Best,still the Best, and will always be the Best.
Pele Good,Maradona Better, George Best.

Offline casualchurner

  • Dansdeals Gold Elite
  • ***
  • Join Date: Feb 2014
  • Posts: 222
  • Total likes: 20
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: New Jersey
Trans Union has an option on their site for free enrollment in TrueIdentity which gives a user "the ability to lock and unlock your credit whenever you want".
How is this different than placing an actual "credit freeze" on my credit file?

ETA: From comments upthread, I'm assuming that it's not as effective as an actual freeze. Is that true? If so, why?

Offline ludmila

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Aug 2012
  • Posts: 5147
  • Total likes: 271
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: IND
  • Programs: Hilton Diamond,Marriott Platinum,SPG Platinum.
Trans Union has an option on their site for free enrollment in TrueIdentity which gives a user "the ability to lock and unlock your credit whenever you want".
How is this different than placing an actual "credit freeze" on my credit file?

ETA: From comments upthread, I'm assuming that it's not as effective as an actual freeze. Is that true? If so, why?
Good question, does anyone know?
I was the Best,still the Best, and will always be the Best.
Pele Good,Maradona Better, George Best.

Offline Toasted

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Oct 2013
  • Posts: 1071
  • Total likes: 222
  • DansDeals.com Hat Tips 13
    • View Profile

Offline AsherO

  • Global Moderator
  • Dansdeals Lifetime 30K Presidential Platinum Elite
  • **********
  • Join Date: May 2008
  • Posts: 30533
  • Total likes: 7829
  • DansDeals.com Hat Tips 79
    • View Profile
  • Location: NYC
100% of Likes will be donated to support our brothers and sisters in Eretz Yisrael