Chase Data Breach Victim: What to Do

August 21, 2018 in Chase, Miles and Points, Travel - No Comments
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Did you get a letter about the Chase data breach? If not, you may want to check your mailbox.

Chase Data Breach

What you need to know about the credit card finder, CardMatch tool and how to use it. | travel hacking | credit cards | personal finance | free travel| Traveling Well For Less

There was a data breach at Chase on June 28, 2018. Chase sent a letter to everyone whose personal information got compromised. Letters were dated August 10, 2018.

A Chase employee downloaded an undisclosed number of names, addresses, mortgage loan numbers and Social Security numbers.

Sounds benign, right? Nope.

Prepare for Identity Theft

Not only did they steal financial information, they uploaded the data to a personal computer and “two online data storage sites.”

Chase claims they found “no evidence of fraud” or “that the employee used your information outside of a business purpose.”

Which is total bull.

Think about.

An employee with access to highly sensitive information downloads said data on a non-Chase computer and Cloud storage systems.

It’s a no-brainer.

Just because there’s no current proof of fraud, the intention was there.

Because there is no reason for someone to download your financial information unless they plan to use it for identity theft.

Whether they personally were going to use the information or planned to sell it. The intent is there.

Credit Monitoring

Chase’s solution: two years of credit monitoring through Experian’s IdentityWorks.

Yep, Experian the same company that put 200 million people at financial risk

Not only that but they didn’t say what level service they’re providing for free.

I’m going to assume it’s the cheaper Plus level ($9.99 a month) limited protection vs the Premium level ($19.99 a month).

What You Should Do

Here’s what you should do if you’re a victim of the Chase data breach.

1. Order a Free Credit Report

You can order a free credit report from https://www.annualcreditreport.com.

You’re allowed one free report from each of the three credit reporting agencies every year. If you’ve already ordered your free one, they’ll ask for a copy of the letter from Chase otherwise they’ll charge you.

Pro-tip: Instead of ordering reports from each at the same time, order one every four months. This way you can stop problems before they happen.

2. Put a Fraud Alert on Your Credit Report

Contact one of the credit reporting agencies to set up a fraud alert on your credit report. The alert will last for 90-days.

Call during the week in the morning to avoid long wait times.

Pro-tip: You only need to call one.

3. Freeze Your Credit Report

If you want extra protection you can freeze your credit report. Unlike a fraud alert, with a credit freeze, you have to call each credit bureau.

Pro-tip: This means you won’t get instant online approval for credit card applications. You’ll have to call in each time after you apply.

Conclusion

Recently, Chase had a data breach which compromised many people. In particular those who have/had a Chase mortgage loan.

If you were a victim of the Chase data breach, here’s are the three things you need to do: get a free copy of your credit report, place a fraud alert on your report, and freeze your credit report.

Chase is offering two years of credit monitoring protection. But I don’t think that’s enough. The employee should be prosecuted for identity theft.

What are your thoughts?

Comment, share this post, tweet, or give me a +1.

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Traveling Well For Less has partnered with CardRatings for our coverage of credit card products. Traveling Well For Less and CardRatings may receive a commission from card issuers.


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Debra Schroeder

Debra is a former 12-year travel industry executive and has traveled the world using airline miles and credit card points since 1994. She'll teach you the secrets of traveling well for less.

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