White House Gets It Wrong: Credit Monitoring Most Effective Tool for Detecting ID Theft, Not Credit Scores

The White House issued a press release commending the banks and credit unions that are giving away free FICO and VantageScore credit scores to their customers. Oddly enough, though, the release suggests that “one of the best early indicators of identity theft” are these free credit scores. And while getting access to your credit scores is great, they’re terrible and ineffective at alerting consumers that they may have been a victim of identity theft.

To suggest that getting monthly access to your credit scores will “help you spot identity theft” underscores a lack of understanding about credit scores….

READ MORE

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s