Has anyone else received a letter from BNY MELLON in regards to a lost box of files that could perhaps contain you personal items(such as name, address, social security number, shareowner account information, transaction activity and possibly your bank account numbers)? They are offering free credit monitoring for a year. My concern is this really from Mellon or some fraud trying to get you to sign up for something which could possible result in a bigger problem than you perhaps might have concerning identity thief.
Idenity Lost
- Thread starter ups79
- Start date
looper804
Is it time to go home yet
I got the letter 2 weeks ago.I signed up for the service.I check my report every 6 months anyway so a free check was ok with me.Unfortunetly too many of these companies lose our info,but I have never heard of any one using the lost info for ill gotten gains.I say sign up for free and check it every few weeks to be safe.
deezilfuelonly
Active Member
I got the same letter, and thought the same thing. It sounded like a sales pitch to me.
Hard Working Man
Ram Man
same here
satellitedriver
Moderator
I got the letter and I think it is on the up and up.
Safeguards are in place to watch for unusual behavior in my accounts.
I don't know what else to do, except bury my gold in the backyard and worry about how many of my neighbors own shovels.
Strange, scary new world we live in.
Safeguards are in place to watch for unusual behavior in my accounts.
I don't know what else to do, except bury my gold in the backyard and worry about how many of my neighbors own shovels.
Strange, scary new world we live in.
They would do better to steal someones id who had died.
satellitedriver
Moderator
In a perverted sort of way, I wish someone would steal my identity.
It would give me a fresh, new start in life.
It would give me a fresh, new start in life.
Information was also posted on UPSers'.com regarding the loss of data by Mellon.
What kind of bothered me, was how so matter of fact the letter was, like no big deal. Happens all the time.
When you think about it, your information is out there with the IRS, insurance, utitlities, credit card companies, etc.
None the less, I signed up for the credit monitoring.
What kind of bothered me, was how so matter of fact the letter was, like no big deal. Happens all the time.
When you think about it, your information is out there with the IRS, insurance, utitlities, credit card companies, etc.
None the less, I signed up for the credit monitoring.
freeloader
geek
They musta shipped their data backups via UPS.
checking it every six months or once a year thru one of the three major credit reporting agencies will not lower your score. the algorithim used to calculate your beacon and FICO score take into account the number of inquiries from retail credit outlets( car dealers,consumer credit cards,etc.) and factors that into the formula used to determine your credit score. the formula gives a numerical value to each type of credit account you have. also a value is given to the credit line or limit, term, and balance of each account. certain types of credit lines are weighted more than others i.e, a mortgage loan is weighted slightly less than an usecured credit card, as you are more likely to pay your mortagage than a balance on a card. this is factored with your payment history and inquries and other factors to give you your credit score.
in my days working in retail lending for a bank, i used to hear that three inquiries in a month would drop your score 6-8 points. thats why when i buy a car i get approved by my banker before i go to the dealer. Some car dealers will send your info out to a whole network of banks and each one will pull your credit. plus with id theft as rampant as it is, i llike having a little bit of control over who has my info. always heard you cant trust a car salesman anyway!! plus its more bargaining when looking for a deal.
trplnkl
555
How so?
UpstateNYUPSer(Ret)
Well-Known Member
Checking your own credit has no effect on your credit score. Numerous inquiries by retail companies will but if you are able to group these inquiries in to a 2 week period then they are considered to be 1 inquiry for the purpose of affecting your credit score.
The only problem with the offer from Mellon is that they are only providing credit monitoring for free--you must pay extra to get your credit score.
The only problem with the offer from Mellon is that they are only providing credit monitoring for free--you must pay extra to get your credit score.
Chnandler Bong
Well-Known Member
I love it. Are you doing "better than you deserve" as well? I try listen to his podcast daily. Not only does he give great advice, but it somehow makes me feel better to hear some of the dumb things people do with their money. Let's just say I've paid my fair share of the "stupid tax" over the years. I only wish I had heard his advice sooner.
Overpaid Union Thug
Well-Known Member
I started listening to him about 4 years ago. We (wife and I) paid off all debt within a two year period. No more car payments, credit cards, or school loans. If more people would follow his plan there wouldn't be a "housing crisis" or trillions of dollars of credit card debt. What amazes me is all the people that call into his show that worked two or three jobs in order to get back on their feet. I have much respect for those people for taking responsibility for their poor decisions and doing something about it instead of blaming the credit card companies and banks for their mistakes. They went out and did what it takes to get back on their feet instead of waiting on the government to bail them out. Dave Ramsey was able to encourage them to do so. He is awesome.
R
reno road dog
Guest
This is how the scam artists get you. I called the phone number from my last stock letter, NOT from the letter mellon sent me just to make sure it wasn't a scam.
It's NOT a scam, everything checked out.
Can anyone say Class Action.
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