The Money Mustache Community

General Discussion => Welcome and General Discussion => Topic started by: coppertop on May 08, 2015, 11:43:31 AM

Title: Target Class Action
Post by: coppertop on May 08, 2015, 11:43:31 AM

I received a card in the mail concerning a settlement regarding the data breach at the end of 2013.  Has anyone else received anything like this?  It requires you to go on line and register.  I am a little worried about doing this, since I'm not sure if this is legitimate or a scam.

Title: Re: Target Class Action
Post by: TexasStash on May 08, 2015, 01:00:51 PM

We were likely in the target pool of litigants (pun very much intended), and we have not received anything like that in the mail. It's possible it just hasn't reached us yet.

Title: Re: Target Class Action
Post by: Capsu78 on May 08, 2015, 01:06:22 PM

Here is some more info- you have until July 31 to sign up so I am going to wait on it and watch the news:

http://www.cleveland.com/business/index.ssf/2015/05/email_about_target_breach_sett.html

Title: Re: Target Class Action
Post by: iknowiyam on May 09, 2015, 12:41:27 PM

I received the same type of letter recently. However, we did not have any losses or credit theft despite using our credit card during the time period stated in the letter.

Title: Re: Target Class Action
Post by: Retired To Win on May 10, 2015, 07:05:32 AM

Quote from: iknowiyam on May 09, 2015, 12:41:27 PM

I received the same type of letter recently. However, we did not have any losses or credit theft despite using our credit card during the time period stated in the letter.

Federal law (I understand) shields cardholders from actually taking any losses due to fraudulent use of their credit cards.  Even if the cardholder does not notify the company of a lost or compromised card, the cardholder's financial responsibility is limited to $50 (and not even that sometimes).

My point?  That maybe it's not worth the bother or the worry?  Just be reasonably careful with your cards.

Title: Re: Target Class Action
Post by: libertarian4321 on May 12, 2015, 07:14:23 PM

Quote from: coppertop on May 08, 2015, 11:43:31 AM

It requires you to go on line and register.  I am a little worried about doing this, since I'm not sure if this is legitimate or a scam.

Like most class action lawsuits, it's probably both "legitimate" and a scam.

Essentially what will happen is, Target will settle for some number of millions of dollars.

The class action lawyers will rake in a huge percentage of that.

Those who are party to the suit- the ones actually hurt by Target, will end up with something nearly useless, like a coupon for 10% off a loaf of cheese.