There鈥檚 no shortage of advice following the data breach affecting sensitive information of about 143 million Americans.
The consumer reporter, , has been . She said closing off access to your credit report 鈥� known as a credit freeze 鈥� is slightly inconvenient, but it鈥檚 still better than identity theft.
One of the problems, according to Fisher, is that people have become numb to news that their sensitive information has been compromised.
鈥淔or several years now, it really has been that, 鈥楬ere we go again, who鈥檚 the latest breach?'" Fisher said.
Not the biggest, but maybe the worst
In 2016, announced two breaches affecting a combined 1.5 billion user accounts, though the actual number of affected people is less due to old, unused accounts and people with multiple logins. Fisher said the Equifax breach, which is estimated to affect nearly half the U.S. population, is worse for a handful of reasons.
For one thing, Fisher describes Equifax as a clearing house for 鈥渢he most sensitive information out there鈥� about its clients, including social security numbers. And many people may not realize they are indirectly clients of Equifax, even if they鈥檝e never heard of it.
Equifax, and are the three big credit reporting agencies. These companies collect information from places like credit card companies, banks, and auto and mortgage lenders. For example, 鈥渕y mortgage company made a report to one, two, or all three of them about whether I pay on time or if I鈥檓 late,鈥� Fisher said.
The key to accessing that credit information is a person鈥檚 social security number, which gets sent to companies like Equifax in order to retrieve a credit report.
鈥淭hese companies have your information,鈥� Fisher said. 鈥淭his information is what your credit score is based on, which is obviously very important when you go to look for credit.鈥�
Protection with a credit freeze
In her reporting for the Akron Beacon Journal, Fisher wrote that she and her husband placed credit freezes on their accounts at all three reporting agencies, 鈥渨hich block any new credit from being granted鈥� without their permission. But even that isn鈥檛 foolproof.
鈥淲hat made this (data breach) a little more disconcerting is that the very bureau that鈥檚 there to protect me was hacked,鈥� Fisher said.
Still, Fisher recommends the small inconvenience of approving all new credit in your name over identity theft.
Not just adults
The data breach isn鈥檛 limited to adults. Fisher reported her 14-year-old showed up as part of the breach when she used Equifax鈥檚 online tool to check his vulnerability.
鈥�(It鈥檚) a head-scratcher because obviously he shouldn鈥檛 have credit in his name,鈥� Fisher said.
And, according to Fisher, someone could potentially use her son鈥檚 social security number to open a line of credit and do some serious damage to his future credit score.
鈥淥nce a child becomes an adult and wants to buy a car, their credit has been ruined because someone else has taken over that information.鈥�
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