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Equifax Breach — The Emails Are A Coming

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Established Contributor

Re: Equifax credit monitor or the check ?

The score Equifax provides with most of their products is not Vantage. It’s their own score. A classic FAKO as it used to be called. They don’t give it a name but it’s not FICO or Vantage.

 

But you can buy a FICO score from EQ. They sell FICO 5 as part of the “Score Watch” product. I purchased one recently because I needed just a EQ FICO 5 and it’s the cheapest way to get one.

 

https://www.equifax.com/personal/products/credit/score-watch-and-monitoring/

I just returned from financial hell. Don't go, the brochure is a lie.
Message 31 of 37
Valued Contributor

Re: Equifax credit monitor or the check ?

yeah, monthly but it's only two times per year:

The FICO Score is based on the FICO Score 5 model. Third parties may use a different FICO Score or a different type of credit score to assess your creditworthiness.

 
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"My Take Home Pay Don't Take Me Home"
Synovus75k/CapOne11k/Disco9k/GoodSamsVS5k/Synch45.6k/HomeDepot10k/Amex10k
Inquiries: 9EXP, 4TU, 5EQ (most fall off by Nov 2021)

Rebuild Oct. 2018: Exp 579 (baby steps: Oct-Disco $200 secured/Nov-CapOne credit steps $500, Dec-Comenity HSN $2k)(mid Nov- 1 collection, 3 CO's pulled into the Worm Hole, rest in pieces! )

Current Scores: EXP714, TU737, EQ735
Message 32 of 37
Senior Contributor

Re: Equifax credit monitor or the check ?


@Morpho wrote:

The score Equifax provides with most of their products is not Vantage. It’s their own score. A classic FAKO as it used to be called. They don’t give it a name but it’s not FICO or Vantage.

 

But you can buy a FICO score from EQ. They sell FICO 5 as part of the “Score Watch” product. I purchased one recently because I needed just a EQ FICO 5 and it’s the cheapest way to get one.

 

https://www.equifax.com/personal/products/credit/score-watch-and-monitoring/


Are you looking for a mortgage? Fico 5 is primarily used in mortgage lending. According to Investopedia "One reason a mortgage provider, especially a bank, would rely on FICO 5 instead of FICO 8  is because earlier versions are less forgiving of unpaid collection accounts, especially medical accounts". I get a free monthly EQ Fico5 from DCU, I don't have any collections but do have a BK7 from 2010 still reporting, but for some reason my Fico5 never changes, it was 692 when I joined DCU in Oct. 2017 and is still 692 as of last month, it's never moved 1 point. It could be because while I have a mortgage I didn't reaffirm it in my BK so it doesn't report.

I get a free quarterly EQ Fico9 from Penfed, and a free EQ Fico NG1 from HSBC. There's plenty of free or inexpensive EQ Fico scores, just not Fico8.


Fico 08: 734/716/734 TU/EX/EQ
Message 33 of 37
Senior Contributor

Re: Equifax credit monitor or the check ?

Hmmm, interesting. I filed a claim for the cash settlement + 4 hours (@$25/hr.) for "time spent" dealing with the breach on July 24, and never received the email saying I had to amend my claim by providing the name of my credit monitoring service. But I read another article about it with a link to amend my claim, so I checked it out:

eqsettle-2.jpg

 

Note the original claim form said "cash payment of $125", and now says "up to $125". Plus it says if you filed you claim before Aug. 2 you "can this form to amend your claim" to provide the name of your credit monitoring service". But then at the bottom it contradicts that by saying "you must take action in order for your claim to be considered". I also started a new claim to check out the form, after entering your personal info the very next step makes you provide the name of your credit monitoring service, which was not there when I filed on 7/24/19

 

These idiot negotiated a settlement with Equifax for the $125 cash payment originally promoted but only  provided only enough funds for 248,000 claims when 147 million people had their personal data stolen and are eligible tp file a claim. And then they didn't think to make you provide the name of the credit monitoring service that you attested under oath that you have. And how are they going to validate that now that you have to provide the name of the service? Somehow I can't see them sending millions of requests to EX, EQ, TU, CK, etc. asking "hey, do you have a Joe Smith as a customer?". It's obviously a con job to try to weed out millions of claims.

 

I amended my claim providing them with Equifax Complete Premier as my service. Maybe I'll eventually get a check big enough to buy something off McDonald's Dollar menu. Smiley Wink


Fico 08: 734/716/734 TU/EX/EQ
Message 34 of 37
Community Leader
Senior Contributor

Re: Equifax credit monitor or the check ?


@DaveInAZ wrote:

Hmmm, interesting. I filed a claim for the cash settlement + 4 hours (@$25/hr.) for "time spent" dealing with the breach on July 24, and never received the email saying I had to amend my claim by providing the name of my credit monitoring service. But I read another article about it with a link to amend my claim, so I checked it out:

eqsettle-2.jpg

 

Note the original claim form said "cash payment of $125", and now says "up to $125". Plus it says if you filed you claim before Aug. 2 you "can this form to amend your claim" to provide the name of your credit monitoring service". But then at the bottom it contradicts that by saying "you must take action in order for your claim to be considered". I also started a new claim to check out the form, after entering your personal info the very next step makes you provide the name of your credit monitoring service, which was not there when I filed on 7/24/19

 

What complete cluster f**k. These idiot negotiated a settlement with Equifax for the $125 cash payment originally promoted but only  provided only enough funds for 278,000+/- claims when over 120 million people had their personal data stolen. And then they didn't think to make you provide the name of the credit monitoring service that you attested under oath that you have. And how are they going to validate that now that you have to provide the name of the service? Somehow I can't see them sending millions of requests to EX, EQ, TU, CK, etc. asking "hey, do you have a Joe Smith as a customer?". It's obviously a con job to try to weed out millions of claims.

 

I amended my claim providing them with Equifax Complete Premier as my service. Maybe I'll eventually get a check big enough to buy something off McDonald's Dollar menu. Smiley Wink


Equifax messed up when they thought millions of affected people would jump on the 4-yr. free monitoring service. I think Equifax was in total shock and disbelief when millions of people checked the box, I want $125. I wish I could have been a fly on the wall when they started getting all the requests from people who said, Show me the money. I don't want no stinking monitoring serviceSmiley Very Happy Smiley Very Happy

GOALS: Garden til APR 2020 and 800 Club


SEP 2019: EX 791, TU 797, EQ 800
JUN 2019: EX 788, TU 794, EQ 779
DEC 2018: EX 777, TU 783, EQ 799

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Message 35 of 37
Senior Contributor

Re: Equifax credit monitor or the check ?


@CreditInspired wrote:

Equifax messed up when they thought millions of affected people would jump on the 4-yr. free monitoring service. I think Equifax was in total shock and disbelief when millions of people checked the box, I want $125. I wish I could have been a fly on the wall when they started getting all the requests from people who said, Show me the money. I don't want no stinking monitoring serviceSmiley Very Happy Smiley Very Happy


Actually, it was the Federal Trade Commission that negotiated this settlement, they are the clueless idiots. Equifax is just shrewd negotiators, and cold heartless b*stards who couldn't care less about the people they make millions off of by collecting their personal data without their knowledge or permission.

147 million people had their personal data stolen. So the FTC negotiated a settlement with Equifax to fund the settlement for folks who checked the box I want $125 with $31 million dollars. That means only a maximum of 248,000 people could get the promised $125 when 147 million were eligible to chose that option. So the FTC let Equifax off the hook to fund a settlement for $125 to each person, but only if 0.001687075% of those affected affected by the data breach chose the money option. That's 1 thousandth of 1%.

 

The FTC website for the settlment: https://www.ftc.gov/enforcement/cases-proceedings/refunds/equifax-data-breach-settlement

FAQ 5:  I thought I could choose $125 instead of free credit monitoring. What happened?

The public response to the settlement has been overwhelming. Because the total amount available for the alternative compensations is $31 million, each person who takes the money option is likely to get a very small amount. Nowhere near the $125 they could have gotten if there hadn’t been such an enormous number of claims filed.

 

Translation from bureaucrat speak: Gee, we had no idea that a few more than 1 thousandth of 1% would chose the money option.


Fico 08: 734/716/734 TU/EX/EQ
Message 36 of 37
Established Contributor

Re: Equifax credit monitor or the check ?


@DaveInAZ wrote:

@Morpho wrote:

The score Equifax provides with most of their products is not Vantage. It’s their own score. A classic FAKO as it used to be called. They don’t give it a name but it’s not FICO or Vantage.

 

But you can buy a FICO score from EQ. They sell FICO 5 as part of the “Score Watch” product. I purchased one recently because I needed just a EQ FICO 5 and it’s the cheapest way to get one.

 

https://www.equifax.com/personal/products/credit/score-watch-and-monitoring/


Are you looking for a mortgage? Fico 5 is primarily used in mortgage lending. According to Investopedia "One reason a mortgage provider, especially a bank, would rely on FICO 5 instead of FICO 8  is because earlier versions are less forgiving of unpaid collection accounts, especially medical accounts". I get a free monthly EQ Fico5 from DCU, I don't have any collections but do have a BK7 from 2010 still reporting, but for some reason my Fico5 never changes, it was 692 when I joined DCU in Oct. 2017 and is still 692 as of last month, it's never moved 1 point. It could be because while I have a mortgage I didn't reaffirm it in my BK so it doesn't report.

I get a free quarterly EQ Fico9 from Penfed, and a free EQ Fico NG1 from HSBC. There's plenty of free or inexpensive EQ Fico scores, just not Fico8.


Not looking for a mortgage but a credit union I’m considering uses FICO 5 for membership. I’m finding a surprising number of credit unions using the mortgage version of FICO for non mortgage products. Capital One also uses the mortgage FICO btw.

I just returned from financial hell. Don't go, the brochure is a lie.
Message 37 of 37
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