How much will I get from the Capital One settlement?
The Capital One settlement, a result of the bank’s 2016 data breach, has been a topic of interest for many affected customers. The settlement, which was approved in March 2019, aims to compensate customers whose personal information was compromised during the breach. However, the question on everyone’s mind is, “How much will I get from the Capital One settlement?” This article will provide an overview of the settlement, the eligibility criteria, and the estimated compensation amounts.
The Capital One data breach occurred in 2016 when a hacker gained access to the personal information of over 100 million customers. The stolen data included names, addresses, phone numbers, email addresses, and credit card information. Following the breach, Capital One agreed to a $190 million settlement with the U.S. government and the affected customers.
Eligibility for the Capital One Settlement
To determine how much you will receive from the Capital One settlement, you must first determine if you are eligible. The settlement covers all U.S. customers who had an account with Capital One on or before March 22, 2016. If you had an account during this time, you may be eligible for a cash payment or a free year of credit monitoring.
Estimated Compensation Amounts
The amount of compensation you will receive from the Capital One settlement depends on several factors, including the type of account you had and the extent of your data exposure. The settlement includes two main components:
1. Cash Payments: Eligible customers will receive a cash payment ranging from $50 to $140, depending on the type of account they held. The average cash payment is expected to be around $100.
2. Free Credit Monitoring: All eligible customers will receive a free year of credit monitoring services from a third-party provider. This service is valued at approximately $20.
How to Claim Your Compensation
To claim your compensation from the Capital One settlement, you must complete an online claim form. The form will ask for information about your account and the extent of your data exposure. Once you submit the form, you will receive a confirmation email with instructions on how to proceed.
Conclusion
The Capital One settlement aims to provide relief to customers affected by the 2016 data breach. While the exact amount of compensation may vary, eligible customers can expect to receive a cash payment and a year of free credit monitoring. To find out how much you will get from the Capital One settlement, ensure you are eligible and complete the online claim form.