4 ms·
Absolutely, but it's more effort than knowing an SSN and being immediately able to get a loan in the name of that person. That would be ridiculous in Europe.
by bonzini 6y ago
Absolutely, but it's more effort than knowing an SSN and being immediately able to get a loan in the name of that person. That would be ridiculous in Europe.
- kortilla 6y agoThat’s pretty ridiculous in the US as well. An SSN is never enough. Usually they will need some copy of a state ID and proof of access to a mailing address on your credit history.
- bonzini 6y agoI didn't say that, the US government does: > Identity thieves can use your number and your good credit to apply for more credit in your name. Then, they use the credit cards and don’t pay the bills, it damages your credit. You may not find out that someone is using your number until you’re turned down for credit, or you begin to get calls from unknown creditors demanding payment for items you never bought. https://www.ssa.gov/pubs/EN-05-10064.pdf https://www.ssa.gov/pubs/EN-05-10064.pdf
- kortilla 6y agoThat’s not how it works though in the vast majority of US financial institutions though. They won’t just send a credit card to a random address. That document is written to scare people into protecting their SSN. It’s discussing what is now an edge case that may have been easier 20 years ago.