How to Protect Your Credit Now That Equifax Monitoring Service Is Over
If you subscribe to TrustedID Premier from Equifax after break-scale data to credit bureaus in 2017, you will need to find a new credit monitoring service, says the Consumer Reports .
TrustID Premier was offered by Equifax to consumers in the US following a data breach that leaked personal information to 145.5 million people . Among other things, he provided people with a copy of their Equifax credit report, credit monitoring of their Equifax, Experian and TransUnion credit reports, and identity theft insurance.
Although Equifax expired at the end of January, your personal information is not, and you are still vulnerable to fraud and identity theft. Here’s how to properly protect yourself.
Freeze your reports
The credit freeze prevents fraudsters from opening new accounts in your name. You can now do this for free at three major credit bureaus: Equifax ,Experian, and TransUnion . It is recommended that you freeze the loan on all three so that it is truly effective. If you’ve frozen your account after being hacked, it should still be in place.
To block your accounts, go to the bureau’s websites (links above) and follow the instructions. Remember that if you want to, for example, apply for a mortgage or get a new credit card, you need to unblock your accounts. How to “unfreeze” a freeze depends on the bureau; pay attention to this when setting freeze.
Credit freeze rules are set by law, according to the New York Times , making them safer for the consumer than something like a credit block that varies from company to company. Speaking of …
Block your loan
You also have the option to block your credit accounts. Locking a loan also prevents lenders from accessing your accounts, but it can be disabled online more easily than freezing. This is a less secure option, but may be easier to manage.
The TrustedID Premier has blocked your Equifax report, but “the blocks will be automatically lifted when the TrustedID expires,” the Times reported. This means that you will now have to use a different service to block your account.
Also note: Equifax andTransUnion offer free locks (TransUnion also offers a paid product), whileExperian charges $ 20 per month after a free 30-day trial. For maximum efficiency, you will want to lock your reports across all three bureaus.
Use a credit monitoring service
You can find a free credit monitoring service through something like Credit Karma or Credit Sesame. These services will alert you to actions on your loan file, although this usually means that the theft has already occurred – this is more of a bandage than a preventive measure.
Review your credit report regularly
Finally, get in the habit of pulling on your credit report . You can get a free copy from each bureau every year at www.annualcreditreport.com, but you can also use a service like Credit Karma to access some of your reports free of charge at any time.