Bargain Hunter Breach – Worse Than Thought

That great deal may have turned into a steal. In a February 21, 2007 press release, TJ Maxx parent TJX revealed more about computer breaches to its information systems that may have exposed shoppers’ personal information to malicious persons. Previously the company announced the breach was confined to the period May 2006 – January 2007. However, after further investigation and cooperation with law enforcement, the hacking appears more widespread.

Are You Affected?

Shoppers at T.J. Maxx, Marshalls, HomeGoods and A.J. Wright stores in the United States and Puerto are at risk if they purchased items during 2003 - 2006. Credit card and debit card information was compromised (stolen), but the company said names and addresses were not attached to that information.

If you returned an item without a receipt to one of the TJ Maxx stores during that time you may face elevated risk. In these transactions some driver’s license numbers were also apparently accessed along with names and addresses. The company plans to notify these people. If you’re concerned about your information safety, look over your credit card statements carefully and make sure to check your free credit report which you’re entitled to do once a year. TJX has also established a hotline at (866) 484-6978 for consumers.

In your financial life, few things figure as prominently as your credit report and credit score. Learning the basics of the credit report process, and keeping your credit report free of errors, is essential to good financial health. You should focus on improving your credit score as the highest credit scores receive the best interest rates and loan terms. On a mortgage, a difference of 100 points could be worth hundreds of dollars each month.

Since 2005, all Americans have the legal right to obtain a free annual copy of their credit report from TransUnion, Equifax and Experian credit reporting bureaus. This law is intended to help consumers reduce errors in their credit reports by minimizing the obstacles to viewing credit reports. To receive a free credit report visit the official site run by the bureaus: annualcreditreport.com

Your personal credit score is a number from 350-800 which stands for your credit risk. The higher numbers are considered less likely to default. Credit scores come from mathematical formulas that measure many variables in your credit report such as payment history, public records, and debt to income ratio.

The Fair and Accurate Credit Transaction Act (2003) amendment to the FCRA Fair Credit Reporting Act guaranteed all Americans the right to see their credit report once a year to check it for errors. To learn more about free credit, credit scores and financial terminology, visit our glossary page.