One of the credit reporting agencies, Trans Union, recently settled a class action lawsuit. They are accused of misusing consumer information for marketing purposes.
Included in the class is anyone that “had a credit card, loan or credit account” anytime in the last 21 years. So, everybody.
Here’s where it gets to be like a game show, as Wallet Pop points out. You can choose one of four remedies:
- Six months of their credit monitoring service and possible cash payment;
- Nine months of their credit monitoring service (no cash payment);
- Possible cash payment;
- Do nothing and preserve your right to sue individually.
You guessed it, no one knows what the cash payment will be. Don’t you love these things?
I’m signing up for the 9 months. The credit monitoring service includes your credit score, not just your credit report. From what I understand, you can check your credit score every day if you want.
I want to see how my credit score fluctuates from day to day and month to month as I incur debt, pay bills, sign up for new credit, etc. Having a first hand look at how the credit score works is worth way more than the 35 cents I may or may not get from the cash payment option.
You must sign up here or by phone (1-866-416-3470) by September 24, 2008 if you want to be included in the class.