I wonder if this will introduce instability in credit for consumers. Could this actually have long term ramifications for the US economy?
I'm worried about a DDOS on the IRS during tax season. They already barely function.
Equihax
171–180 of 209 posts
Re: Equihax
#172Cool, this is good news as it means I might actually be able to find out my credit score. I recently sent in an application to Equifax to get my credit score along with all the security documents, proof of address, passport, drivers license, registered mail etc. and they rejected my application because I didn't provide a hydro bill. Unfortunately, I live in an apartment and I don't pay hydro, so I sent in a copy of t…
Score or report? You're entitled to a copy of your credit report annually from each credit bureau, but not the score. I believe lenders typically use a score computed by s third party - often the "FICO Score," from Fair Isaac.
[deleted]
Re: Equihax
#173This seems odd to say, but if they included a price for just a simple name+birth date query, there is probably a decent price point people would actually pay just to know if they are on there. Like if they have even just half of the names querying for their own identities for like $30 a pop, that'd be more than what they are asking for for the whole bulk.
Think of the operational cost involved to satisfy everybody's query.
Re: Equihax
#174Earlier quoted context omitted.
CreditKarma does it for free, if you're in the US (no idea about outside the US). So does mint.com. So do many other credit card companies. I now have 6 or 7 credit scores, all curiously different (though within certain range of each other).
Because there are lots of different scoring algorithms. There are several different ones from FICO themselves (so there is no single one FICO score), and they have several competitors that have different algorithms. Even when using the same algorithm, you will have a different score for each credit report.
True but my experience they are all within the same range. If you get "good" score on one of them, you'd get the same on others. They may emphasize slightly different things but there's not that much difference. Also, nobody really checks that score with a point accuracy - there are ranges, but I'd be very surprised if the difference within range, say 750 to 765, means too much.
Re: Equihax
#175Earlier quoted context omitted.
If its only the score you want, cant you get that from creditkarma for free?
You can also get it for free from (at least) American Express and Discover if you have a credit card from them. I'm sure there are other card issuers that give it to you for free as well.
Correct. Chase offers it as well.
Re: Equihax
#176Cool, this is good news as it means I might actually be able to find out my credit score. I recently sent in an application to Equifax to get my credit score along with all the security documents, proof of address, passport, drivers license, registered mail etc. and they rejected my application because I didn't provide a hydro bill. Unfortunately, I live in an apartment and I don't pay hydro, so I sent in a copy of t…
If its only the score you want, cant you get that from creditkarma for free?
Does creditkarma sell your credit information to people when you sign up with them?
Re: Equihax
#177Earlier quoted context omitted.
I really hope that's the outcome here. I also think this should pave the way for real legal consequences for moronic data security. Individuals are banned from using computers when prosecuted, what about "no internet for companies who've proven they can't use it responsibly"
> Individuals are banned from using computers when prosecuted Who is banned from using computers? You mean, in prison?
Just last month, http://www.bbc.com/news/technology-40833951 "The conditions of his bail include him not being allowed to access the internet"
Re: Equihax
#178If I were the real hacker, I would prove it by leaking information that wasn't already public. If I were someone pretending to be the real hacker, I would show a screenshot of SSNs that I could find with Google (e.g. Kim Kardashian, Donald Trump, and Bill Gates).
If I were trying to prove I had the data, I would pick a very rich but private street, say in Bevery Hills or Jackson Hole, and release all data from all people who lived there.
Chaos.
Re: Equihax
#179This seems odd to say, but if they included a price for just a simple name+birth date query, there is probably a decent price point people would actually pay just to know if they are on there. Like if they have even just half of the names querying for their own identities for like $30 a pop, that'd be more than what they are asking for for the whole bulk.
Think of the operational cost involved to satisfy everybody's query.
Couldn't it easily be automated? A lot of upfront work but then just monitoring.
Re: Equihax
#180Bitcoin and Etherium are used too much for money laundering. They need to be regulated. There is also so much energy used to mine the coins. More than many countries. We need to really think about what we get out of building a money a laundering technology primarily used on the dark net.