Equifax trusted alert - updated trade-line

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
Post Reply
njay73
Posts: 64
Joined: Wed Jan 01, 2014 9:47 am

Equifax trusted alert - updated trade-line

Post by njay73 » Tue Dec 12, 2017 6:53 am

I had signed up for credit monitoring with these guys few months back. This is first time I recived a alert - which reads "updated tradeline" credit card from a bankof america balance 0.

I do have card with BOA with 0 balance. I called BOA and they said they dont see any activity but asked me to check with their credit department, which I will in few hours

my concerned isI have not requested for any new account with BOA. So, why should they check my credit report?

Just woundering anyone else has seen something like this. and how seriously I should trat this alert.

Thanks

invst65
Posts: 363
Joined: Thu Nov 27, 2014 11:04 am

Re: Equifax trusted alert - updated trade-line

Post by invst65 » Tue Dec 12, 2017 9:00 am

I've gotten two of those since I signed up for the service. Both times it was just reporting the new balance on my credit card. This is something that happens routinely every month when your bank reports the new balance. The first alert I received was in October, the second in December. So what happened to November? Who knows? It could be the bank not reporting the balance or Equifax failing to apply the update. Or maybe this kind of routine item isn't supposed to post to Trusted Id but there is some kind of glitch in Equifax's software. As a former employee of Equifax I would suspect them in either of those two scenarios before the bank.

Your bank probably reports the balance every month even if it is $0. Why it doesn't post to Trusted Id every month will remain a mystery but I wouldn't worry about it. I would opt out of these kinds of notifications if I could but I don't see a way.

njay73
Posts: 64
Joined: Wed Jan 01, 2014 9:47 am

Re: Equifax trusted alert - updated trade-line

Post by njay73 » Tue Dec 12, 2017 11:21 am

Yes, I called them up, they have no idea besides what is reported on the alert. For my case my balance is zero, and I have tons of other accounts which does not show up in the alert.

I have to reconsider paying for this service once the free trail is over.

Post Reply