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.