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Thread: Credit Monitoring

  1. #1

    Credit Monitoring

    Any body use LifeLock?
    Or something similar?

    Do you feel it as necessary due to all the data breaches?

  2. #2
    My company pays for InfoArmor for our 18 employees and their families. My company had some contracts that required many to have clearances. And after the OPM data leak occurred, we realized that many of our guys who had clearances also had family members info st OPM. So made the decision to cast it wide. We will provide coverage for as long as youíre employed with us.

    Individually as a consumer it all comes down to what you have to lose. Purloined credit card numbers are no big deal these days. As the consumer we are generally not held responsible. Itís a bit disheartening but as long as you have means for quick replacement (especially important if you travel a lot like I do) itís almost expected to have a CC# compromised these days.

    As for identity theft, aka having your credit history trashed and worse. Thatís a big deal to anyone with a credit history. Itís really just doing an analysis and deciding how much you want to pay as an insurance policy against an identity incident. My personal feeling is that most consumers can get away with the most restrictive lock-down at the Big Three credit bureaus and go with that.

    Most identity thefts probably arenít happening by going through trash these days; itís mostly electronic. I still shred all business and personal papers.

  3. 09-23-2017, 07:44 PM

  4. #3
    Quote Originally Posted by Weems View Post
    I still shred all business and personal papers.
    Me too. Many years ago someone took some misdirected mail and wrote checks against a newly opened credit card account of mine.
    Never got the money back.

    To this day I always rip those "checks" up, even though I constantly remind credit companies to never send them.
    ďGood intentions will always be pleaded for every assumption of authority. It is hardly too strong to say that the Constitution was made to guard the people against the dangers of good intentions. There are men in all ages who mean to govern well, but they mean to govern. They promise to be good masters, but they mean to be masters.".Daniel Webster

  5. #4
    Quote Originally Posted by Weems View Post
    As for identity theft, aka having your credit history trashed and worse. That’s a big deal to anyone with a credit history. It’s really just doing an analysis and deciding how much you want to pay as an insurance policy against an identity incident. My personal feeling is that most consumers can get away with the most restrictive lock-down at the Big Three credit bureaus and go with that.
    Does a credit freeze stop that?

  6. #5
    Quote Originally Posted by DoWhat View Post
    Does a credit freeze stop that?
    Nothing will be a guarantee. But a freeze will reduce your attack surface because (hopefully, if things work correctly) it will prevent someone from taking out credit in your name without your knowledge.

    Protecting one's credit is a lot like securing a network of computers from hackers: you hope to make the bar high enough such that you're passed over for low-hanging fruit. There is no panacea.

  7. #6
    I Need a Life b23hqb's Avatar
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    Quote Originally Posted by DoWhat View Post
    Any body use LifeLock?
    Or something similar?

    Do you feel it as necessary due to all the data breaches?
    I've used LifeLock for about eight or nine years. Monitor myself/wife/youngest daughter for less than $290 total per year for all of us. I feel good about it.

    I've only had one incident of any of our ssn's coming up that we were not aware of, and it was squelched immediately.

    Still, I shred anything that has my name/address, or any financial information/applications received in the mail, along with a nice burn run in the back yard fire pit for the bigger stuff twice a year.
    Last edited by b23hqb; 09-24-2017 at 12:54 PM.
    "In my many years I have come to a conclusion that one useless man is a shame, two is a law firm, and three or more is a congress." John Adams

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