Unfortunately; we live in a day and age of data breaches and hackers which no one is exempt from. The more we become a society of high tech, the higher the risk of having our personal information stolen. In 2017, Equifax announced a data breach which exposed over 147 million consumers. This data breach opened the doors to your personal information such as social security numbers, date of birth, personal checking accounts, credit cards and more. While Equifax offered their “free monitoring service”, consumers had to sign an arbitration clause stating they will not go after Equifax for any wrong doing. Yep, you read this right. If you signed up for free credit monitoring services through Equifax because of their mistake, then you have to agree to not hold them responsible for anything that could happen to you in the future. Pure ridiculousness and absurdity.
When a data breach of this magnitude happens, the “hackers” will not use or sell your information immediately. It’s like robbing a bank. The bank robber would not use that money right away. They will stash it away for an amount of time before using it. Well, data breaches such as this are not much different. Before the hackers sell it, they will hold on to the data. This could be for months or years. Our guess on something like this is years due to the magnitude of the breach. Which is why it is important to always have your credit monitored.
While you are a customer of your850, we will pay for your credit monitoring. This is done through a reputable third-party company; IdentityIQ. IdentityIQ will notify you of any change that is done to your credit including: newly opened accounts, change of address, public records, and new delinquencies. The monitoring will also keep you informed on updates and the positive impact that your850 is having on your credit. So when you have an account deleted or verified, you will be notified via email from IdentityIQ.
Once we are done with your credit, you will be given the option to continue with credit monitoring. Since you will have been a customer of your850, you will be offered a discount through IdentityIQ. Continuing your credit monitoring service is important as again, we always have the threat of stolen identities. This is a small investment to make for a lot of protection.