Three Major Credit Reporting AgenciesThere are three major credit agencies.
It is one of the three largest accounting firms. How do I handle my credit cards? pinterest
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Inheritance planning update September 2017 - The Equifax data breach
Equifax, one of the three major accounting firms, has recently announced a violation of its safety policy. Equifax described how invaders gained information - comprising name, social numbers, date of birth as well as supplemental personally identifiable information - from 143 million U.S. users. Such information may be used to hijack your identities.
Whilst ID fraud has become the norm, the magnitude of the violation and the sensibility of the information disclosed should be sufficient to draw everyone's attention to the subject. However, there are actions you can take, whether you are particularly worried about this violation or about the general danger of ID theft:
Periodically watch your credit cards and bank balances and notify your bank of activities that are under suspicion. Review your credit information on a regular basis with each of the three major accounting firms - Equifax, TransUnion and Experian. They can do this directly through the agencies, via www.annualcreditreport.com or through a surveillance team.
Equifax offers free one-year ID and credit surveillance coverage in reaction to this violation. Notice that other utilities are available and that the Equifax utilities may be converted into a chargeable commodity after one year. You are considering froezing your credit records with all three agencies. Frozen storage should help ensure that individuals who have received your personally identifiable information do not open an account on your behalf.
It also creates extra obstacles if you want to use your credit information lawfully, e.g. to request a new credit line or a new credit line. In particular, you should remain careful when making your personally identifiable information, as well as your bank and social security numbers, available on the web or over the phone.
Fraudsters may try to take advantage of this privacy concern when trying to obtain personally identifiable information for fraudulent purposes. More information on this subject can be found on the FTC's Consumer Information - Identity Theft page.