Credit experts offer tips in aftermath of Capital One data breach | KOB 4

Credit experts offer tips in aftermath of Capital One data breach

Credit experts offer tips in aftermath of Capital One data breach Photo: Cropped Photo: Tdorante10 / Wikipedia / CC BY-SA 4.0

Marian Camacho
July 30, 2019 10:23 AM

ALBUQUERQUE, N.M. - Credit experts are offering up tips in the aftermath of the massive Capital One data breach.

The company announced Monday that roughly 100 million credit card applications had been compromised. That means an estimated 77,000 bank account numbers and 140,000 Social Security numbers may have been exposed.

WalletHub experts offered the following tips for consumers who have concerns or questions regarding their information:

  1. Sign up for 24/7 credit monitoring – This way, you’ll find out immediately if someone tries to open an account in your name. WalletHub, for example, offers free 24/7 monitoring of your TransUnion credit report.
  2. Enable Two-Factor Authentication – Capital One was hacked, but your cell phone wasn’t. So use it as another layer of protection when logging into your email account and financial websites.
  3. A Freeze Is Better Than an Alert – It probably isn’t necessary in this case, but if you really want to protect yourself from fraudulent borrowing, freeze your three major credit reports (Equifax, Experian and TransUnion). This will prevent anyone but you from accessing them, thus making it impossible to take out a loan or line of credit. A fraud alert, in contrast, doesn’t actually do much.
  4. Suppress Fraudulent Info – While you can dispute run-of-the-mill credit report inaccuracies, it’s best to use a process called “suppression” / “blocking” to get rid of negative info resulting from identity theft. In short, this makes it so the records in question can’t make reappearance after they’re initially removed.
  5. Never Respond to Unsolicited Requests for Information – Don’t be surprised if you see an uptick in unsolicited calls and emails requesting personal information. Just remember: Never answer if you didn’t ask to be contacted.

For more advice, click here.  


Marian Camacho

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