By  Mon Dec 23, 2013

Target to Offer Free Credit-Monitoring: 5 Things to Know for the Week

Jay Reed / Flickr | http://www.flickr.com/photos/jreed/1352409015/in/set-72157594517965216/

Jay Reed / Flickr source

The major payment card data breach at Target is causing the retailer to take further measures to remedy the situation that could affect 40 million consumers. As with previous data breaches at other large companies, Target is offering to help monitor affected customers’ credit profiles.

  • Tuesday is the last day to enroll for health insurance on the marketplace in order to have coverage starting Jan. 1, 2014. The original deadline was Dec. 15, but it was extended for one week due to the ongoing technical difficulties with the HealthCare.gov website when it first launched. The deadline was extended again due to high site traffic on Monday. Applicants who miss the deadline will have cover starting the following month. There is no penalty as long as you get coverage by March 31.
  • Valley National Bank, one of the largest regional banks in New Jersey and New York, announced a new initiative regarding branches. The bank will introduce video teller machines, enhanced full-service ATMs, upgraded digital capabilities and cash recyclers. The multi-year transition is scheduled to start in early 2014.
  • Target has announced that it will offer free credit monitoring services to everyone affected by the card data breach that affected customers that shopped at the retailer’s stores from Nov. 27 to Dec. 15, 2013. The retailer will announce how customers can access the service at a later date through various channels, including the retailer website, company website and various social media networks.
  • Many banks are making the effort to minimize the financial harm that could affect customers and their accounts due to the Target data breach. While many banks are reiterating their lenient policies on unauthorized charges on debit cards, Chase is taking a slightly more proactive approach by placing temporary limits on withdrawals and purchases until new cards are issued to impacted customers.
  • U.S. Bank is working on a mobile shopping application that would allow consumers to use their smartphones to capture and buy products that they encounter daily. The app’s camera can be used to take a photo of the item to identify and to order it. Additionally, the voice receiver on the phone can be used to recognize an ad on the radio or TV, and allow the user to buy the advertised item.

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