In another case of a company being afraid of a little competition, Experian (one of the three big credit bureaus) is attempting to block Lifelock from helping credit consumers. I’ve previously written about the great services offered by Lifelock on this blog, which include Lifelock creating fraud alerts on your behalf with the credit bureaus. Experian is trying to stop this, saying that current credit laws don’t allow for a third party to place a fraud alert on the behalf of a consumer. Hmm…why would Experian be trying to block this service, which PREVENTS credit fraud? Could it be because fraud alerts cost Experian money, and affect their bottom line? Could it be that Experian really doesn’t care about protecting your credit, only THEIR PROFITS? Lifelock also allows consumers to opt out of pre-approved credit offers and other junk mailings, which further cuts into a big business the credit bureaus having - selling your personal information to credit card companies!

And we wonder why there’s so much credit card fraud in the US - it’s because the credit bureaus couldn’t care less about protecting us!