Worried Optus customers flock to Credit Savvy to protect themselves from fraud

Since the Optus data breach exposed the information and IDs of millions of customers two weeks ago, there’s been a surge of people who now want to protect their identity resulting in a spike of activity around credit score app Credit Savvy.

Credit Savvy is a free app on the App Store and Google Play Store and allows users to set a 21 day ban on you credit inquiries.

This would stop hackers who may have your stolen information from stealing your identity and taking out credit in your name.

Since the Optus data breach, Credit Savvy has seen a 1000 per cent increase in daily signups, a 288 per cent increase in daily app logins and more than 30,000 bans placed on credit scores through the new SavvyShield feature.

SavvyShield is a free feature that allows users to set a 21-day ban on any new credit inquiries in their name.

This ban means banks and other lenders cannot access a user’s credit report – making it impossible for a criminal to complete any fraudulent applications.

Credit Savvy managing director, Paul Nicolo says it’s good to see people taking action to protect themselves from identity theft.

“There are growing concerns stolen Optus customer information could be used by cybercriminals to commit identity theft and take out credit in victims’ names,” he said.

“It’s important for Australians to have a simple way to protect themselves and their credit scores.

“We are helping thousands of people to prevent potential losses from identity fraud, which cost Australians over $10million last year alone.

“It’s great to see our members taking advantage of our Australian-first feature, SavvyShield, designed specifically to help combat the growing problem of identity theft.”

Marianella Watman, head of product and marketing at Credit Savvy and creator of SavvyShield, says the new feature was designed to offer a simple solution for customers.

“Typically, if you find a fraudulent application on your credit file, you have to go to the bank that issues that loan or line of credit in addition to the three credit bureaus to ensure the right protections are placed on your credit file,” Ms Watman said.

“This can be a long and painful process, which is why I wanted to create a solution that streamlines these protections.

“I was also inspired by the personal experiences of friends who were victims of identity theft, which ultimately had a significant impact on their credit scores and their lives.”

“For anyone who is concerned about identity theft, or who has had personal information or ID documents stolen, SavvyShield is a quick and easy way to safeguard your credit score and can provide peace of mind, while you focus on resolving the situation.”

SavvyShield is free to use through the Credit Savvy app which is available from the App Store and Google Play Store.