Archive for the ‘Credit Cards’ Category
If you had a credit card, loan or credit account, you could get benefits from a class action settlement.
A national credit bureau is willing to fork over at least $75 million to settle a lawsuit over sharing personal information.
If you’ve had any kind of credit account over the last 20 years, your privacy may have been sold.
A class action lawsuit claims TransUnion violated the privacy of millions of consumers with credit cards and loans, by selling their personal and financial information for marketing purposes.
TransUnion denies it, but agreed to settle out of court.
You’re eligible to be part of the settlement if you had any kind of credit card or any kind of loan – even student loans – between Jan. 1, 1987 and May 28, 2008.
But you have to file a claim – with your name, address, phone number and date of birth, and you won’t necessarily get money.
You get six months of free credit monitoring with a possible cash payment, or nine months of free enhanced credit monitoring with no chance for a cash payment.
You can skip the claim altogether and file an individual lawsuit. Or, you can do nothing, and get nothing.
Financial analyst Greg McBride of bankrate.com says free credit monitoring is an obvious choice – even if you may not get any cash to go with it.
“The cash amount you get may ultimately be very modest, but what’s really valuable is the ability to have access to that credit monitoring, as well as your TransUnion credit score, which again is very valuable information for consumer who’ve been in the marketplace for a long time,” said McBride.
McBride says that doesn’t necessarily mean it’s a good idea to pay for credit monitoring services. If you utilize the free credit reports you get ever year from each of the three major bureaus, you can monitor you credit yourself.
The six months of free credit monitoring is worth about $60. Nine months of expanded monitoring is worth around $115.
TransUnion also agrees to donate $150,000 to non-profit organizations.
If you want to register for the monitoring or possible cash payment, the deadline is Sept. 24.
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