May 31 2008
Posted by CyberCelt under Did You Know, Product Reviews, Trouble
Experian Wants Lifelock Out
I wrote a post back on April 29 about LifeLock. My husband and I plan to join the service. It costs about $10 per month and offers Identity Theft Protection, Reduced Junk Mail and Reduced Credit Card Offers, and is backed by a $1 Million Service Guarantee.
Experian is one of the major credit reporting bureaus in the USA and they do not like that LifeLock places fraud alerts for Lifelock members. Experian is now suing lifelock, alleging “credit laws do not provide for a third party to place fraud alerts on behalf of a consumer.” Placing fraud alerts, preventing fraud losses, issuing credit reports and investigating identity theft are among the corporate charges of the credit-reporting bureau. However, they do not like using their resources to set alerts on behalf of Lifelock’s clients.
Lifelock also provides opt-out services for pre-approved junk mail, which is cutting into the very lucrative practice of selling your credit history to lenders so that they may send you those new credit card and balance transfer offers.
While credit bureaus do very well with giving out consumer information so that lenders may up-sell, cross-sell customers while managing risk, they actually do little to help you straighten out your credit or identity when it is stolen.






















