How to security freeze your credit?
How to security freeze your credit?
Who has frozen their credit? How did you go about it and how much did it cost? Did you run into any problems when/if you removed the security freeze on your credit?
Re: How to security freeze your credit?
I have not had any problems with it being frozen. I have to get it unfrozen maybe one a year and it is not a big deal and in my state only cost $3.
See here for instructions
http://www.clarkhoward.com/news/clark-h ... uide/nFbL/
You need to be careful to not lose the PIN numbers since they are hard to replace from what I have heard.
See here for instructions
http://www.clarkhoward.com/news/clark-h ... uide/nFbL/
You need to be careful to not lose the PIN numbers since they are hard to replace from what I have heard.
Re: How to security freeze your credit?
Great, thank you. I haven't checked how much it is in North Carolina but it seems like it would be worth the price (of anything just for peace of mind).
Re: How to security freeze your credit?
I froze mine a few years back. In Oregon it's $10 per agency to freeze ... and to unfreeze.
I had to unfreeze one agency when I switched to a new wireless carrier and they couldn't check my credit. And when I opened my HSA, the company sent me a note directing me to send them copies of ID because there was "some sort of fraud alert" on my account.
TIP: before freezing your credit, go to the Social Security web site and set up an account. Experian manages the job of authenticating people signing up for a My Social Security account, and for some reason they can't figure out how to overlook a credit freeze THAT THEY HAVE BEEN PAID TO SET UP.
I had to unfreeze one agency when I switched to a new wireless carrier and they couldn't check my credit. And when I opened my HSA, the company sent me a note directing me to send them copies of ID because there was "some sort of fraud alert" on my account.
TIP: before freezing your credit, go to the Social Security web site and set up an account. Experian manages the job of authenticating people signing up for a My Social Security account, and for some reason they can't figure out how to overlook a credit freeze THAT THEY HAVE BEEN PAID TO SET UP.
Re: How to security freeze your credit?
Here are the rules for NC:sunnyday wrote:Great, thank you. I haven't checked how much it is in North Carolina but it seems like it would be worth the price (of anything just for peace of mind).
For other states do a web search entering the name of your state with the words "credit freeze".
http://www.ncdoj.gov/getdoc/e265b0c0-6a ... reeze.aspx
http://www.ncdoj.gov/getdoc/5ec7dfeb-a2 ... redit.aspx
http://www.ncga.state.nc.us/EnactedLegi ... 75-63.html
Consider creating a cheat sheet with the all the info needed to quickly unfreeze your credit...especially the pin numbers. I didn't think I'd ever need to unfreeze my credit, but I couldn't enter into a new wireless phone contract (or cable...or satellite) without unfreezing all 3. I couldn't write a check to pay for a large purchase...the company had some kind of service that checked your credit before taking your check...and the person I worked with didn't know it....I had to find out though research. The salesman says, "Yes we'll take your check" but the money person has different rules. Some vendors will tell you which credit agency that they use...some rotate...many times the person that you are dealing with is clueless. My future plan is to unlock all three for a week before dealing with a credit situation.
Did you put your cheat sheet where you can find it 3 years from now?
Last edited by hudson on Sun Jan 26, 2014 6:12 am, edited 1 time in total.
Re: How to security freeze your credit?
SS website had a workaround that allowed frozen credit a few years ago when I tried (may still have it). After several visits to the not so local SS office, I gave up and unfroze Experian for a few days.GerryL wrote: TIP: before freezing your credit, go to the Social Security web site and set up an account. Experian manages the job of authenticating people signing up for a My Social Security account, and for some reason they can't figure out how to overlook a credit freeze THAT THEY HAVE BEEN PAID TO SET UP.
I've unfroze one of the credit agencies rarely as needed. Not much hassle. It sure has been nice not getting as many stupid calls from collections agencies trying to collect on someone with a similar name to mine.
Re: How to security freeze your credit?
I froze mine (and wife's) over 10 years ago. Nowadays "unfreezing" is relatively simple (can be done on line) and you usually need to allow an hour for it to go through. (It does happen quicker, but allow it if you have the time.) If you know a big purchase is coming up that requires a credit check you can unfreeze a day or two in advance.
As a side note, you know how department stores will sometimes give you a discount when you apply for their credit card at the register? My wife applies for the card, get's the discount and a week later she is denied the card because of the credit freeze. She has yet to be charged back the discount and their system does not instantaneously check your credit so we get the discount, no new credit card is issued. (We absolutely have no need for additional credit cards but it is nice to get an extra 15% discount here and there.)
As a side note, you know how department stores will sometimes give you a discount when you apply for their credit card at the register? My wife applies for the card, get's the discount and a week later she is denied the card because of the credit freeze. She has yet to be charged back the discount and their system does not instantaneously check your credit so we get the discount, no new credit card is issued. (We absolutely have no need for additional credit cards but it is nice to get an extra 15% discount here and there.)
Re: How to security freeze your credit?
Major, major hassle when I froze my credit reports after the atrocious SAM breach which affected me as a government subcontractor:
http://www.prweb.com/releases/usfederal ... 544836.htm
The worst was that Covered California (CA's Obamacare) could not verify my Social Security number, so my application was denied. Then I couldn't even access my own Social Security account because the website could not identify my SS number. Took forever to fix all this, unfreeze my credit reports, and then make the CA deadline.
But even after unfreezing, I STILL cannot access my SS account, and the people at SS have told me they can't help me, that it's a credit report freeze problem!!
http://www.prweb.com/releases/usfederal ... 544836.htm
The worst was that Covered California (CA's Obamacare) could not verify my Social Security number, so my application was denied. Then I couldn't even access my own Social Security account because the website could not identify my SS number. Took forever to fix all this, unfreeze my credit reports, and then make the CA deadline.
But even after unfreezing, I STILL cannot access my SS account, and the people at SS have told me they can't help me, that it's a credit report freeze problem!!
Re: How to security freeze your credit?
Ours have been frozen for years. In Colorado it is $10 to unfreeze. Have only used it once but may soon as Directv went up again. As to S.S. I was on their website last week. No problem with the freeze but password did not work. Site stated that passwords had to be changed every 179? days.Carl53 wrote:SS website had a workaround that allowed frozen credit a few years ago when I tried (may still have it). After several visits to the not so local SS office, I gave up and unfroze Experian for a few days.GerryL wrote: TIP: before freezing your credit, go to the Social Security web site and set up an account. Experian manages the job of authenticating people signing up for a My Social Security account, and for some reason they can't figure out how to overlook a credit freeze THAT THEY HAVE BEEN PAID TO SET UP.
I've unfroze one of the credit agencies rarely as needed. Not much hassle. It sure has been nice not getting as many stupid calls from collections agencies trying to collect on someone with a similar name to mine.
- JMacDonald
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Re: How to security freeze your credit?
I used this information to freeze my credit accounts: http://oag.ca.gov/idtheft/facts/freeze-your-credit
Best Wishes, |
Joe
Re: How to security freeze your credit?
No problem once the SS site is set up to have your credit frozen. My problem as Gerry's was having it froze when you tried to set it up. Of course you have to reset your password every 6 months or so, but I've remembered or stumbled across the need to do so every time thus far.cleosdad wrote:Ours have been frozen for years. In Colorado it is $10 to unfreeze. Have only used it once but may soon as Directv went up again. As to S.S. I was on their website last week. No problem with the freeze but password did not work. Site stated that passwords had to be changed every 179? days.Carl53 wrote:SS website had a workaround that allowed frozen credit a few years ago when I tried (may still have it). After several visits to the not so local SS office, I gave up and unfroze Experian for a few days.GerryL wrote: TIP: before freezing your credit, go to the Social Security web site and set up an account. Experian manages the job of authenticating people signing up for a My Social Security account, and for some reason they can't figure out how to overlook a credit freeze THAT THEY HAVE BEEN PAID TO SET UP.
I've unfroze one of the credit agencies rarely as needed. Not much hassle. It sure has been nice not getting as many stupid calls from collections agencies trying to collect on someone with a similar name to mine.
Re: How to security freeze your credit?
Note for PA residents - PA law provided for credit bureau freezes for a period of 7 years. In some states they are permanent. Last year, I contacted my state representative because the credit bureau I spoke with told me the freeze was permanent despite what the law says and I wanted some clarification. The representative and his colleague in the state assembly themselves experienced some confusion about this matter when they spoke with their credit bureau contact. The final verdict was that the freeze is in place for 7 years, not permanently. Legislation is in the process of being introduced to make it permanent, but tracking the status of that effort has not been easy.
Re: How to security freeze your credit?
This thread is now in the Personal Finance (Not Investing) forum (credit).
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Re: How to security freeze your credit?
Given all of the problems noted by posters if your credit is frozen, what benefit do you get from freezing your credit that out weights the problems resulting from freezing your credit?sunnyday wrote:Who has frozen their credit? How did you go about it and how much did it cost? Did you run into any problems when/if you removed the security freeze on your credit?
- masterofinvesting
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Re: How to security freeze your credit?
Quoting from http://www.oag.ca.gov/idtheft/facts/freeze-your-credit:manwithnoname wrote: Given all of the problems noted by posters if your credit is frozen, what benefit do you get from freezing your credit that out weights the problems resulting from freezing your credit?
I see this as a huge benefit, and believe that credit should be frozen by default unless we need to unfreeze it (when opening accounts, applying for loans, ...)A security freeze can help prevent identity theft. Most businesses will not open credit accounts without first checking a consumer's credit history. If your credit files are frozen, even someone who has your name and Social Security number would probably not be able to get credit in your name.
Re: How to security freeze your credit?
I froze our credit several years ago and have had no problems. I unfroze it 1 time temporarily when I started Directv. I recommend the freeze.
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Re: How to security freeze your credit?
But a security freeze only protects against the opening of a new account in your name. It does not prevent an identity thief from using your current CC accounts to run up charges. If a thief forges charges on a new account under your name how can you be liable for the charges? Seems that most identity theft arises from stealing information to make charges on current CC/DC accounts, i.e., Target or Michaels.masterofinvesting wrote:Quoting from http://www.oag.ca.gov/idtheft/facts/freeze-your-credit:manwithnoname wrote: Given all of the problems noted by posters if your credit is frozen, what benefit do you get from freezing your credit that out weights the problems resulting from freezing your credit?I see this as a huge benefit, and believe that credit should be frozen by default unless we need to unfreeze it (when opening accounts, applying for loans, ...)A security freeze can help prevent identity theft. Most businesses will not open credit accounts without first checking a consumer's credit history. If your credit files are frozen, even someone who has your name and Social Security number would probably not be able to get credit in your name.
Re: How to security freeze your credit?
CC theft is more common but identity theft is a MUCH bigger pain to deal with. It can also ruin your credit for sometime.manwithnoname wrote: But a security freeze only protects against the opening of a new account in your name. It does not prevent an identity thief from using your current CC accounts to run up charges. If a thief forges charges on a new account under your name how can you be liable for the charges? Seems that most identity theft arises from stealing information to make charges on current CC/DC accounts, i.e., Target or Michaels.
To help protect against cc theft I recommend setting up fraud and high spending alerts so you receive text messages when your cc is used.
- masterofinvesting
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Re: How to security freeze your credit?
When I came to know that there is an option to freeze my credit (it wasn't advertised very well), this was how I saw it:
[*] Credit Freeze: Lock the barn before the horse leaves, and unlock it when you want to take the horse for a walk. Very cheap.
[*] Credit Monitoring: Setup a way to monitor the horse (security cameras, etc.,), which lets you know when the horse leaves - so you can go search for it. Expensive, and doesn't really prevent the horse from leaving.
[*] Do Nothing: Don't lock the barn and assume the horse will stay put. Not recommended.
[*] Credit Freeze: Lock the barn before the horse leaves, and unlock it when you want to take the horse for a walk. Very cheap.
[*] Credit Monitoring: Setup a way to monitor the horse (security cameras, etc.,), which lets you know when the horse leaves - so you can go search for it. Expensive, and doesn't really prevent the horse from leaving.
[*] Do Nothing: Don't lock the barn and assume the horse will stay put. Not recommended.
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Re: How to security freeze your credit?
Huh?sunnyday wrote:CC theft is more common but identity theft is a MUCH bigger pain to deal with. It can also ruin your credit for sometime.manwithnoname wrote: But a security freeze only protects against the opening of a new account in your name. It does not prevent an identity thief from using your current CC accounts to run up charges. If a thief forges charges on a new account under your name how can you be liable for the charges? Seems that most identity theft arises from stealing information to make charges on current CC/DC accounts, i.e., Target or Michaels.
To help protect against cc theft I recommend setting up fraud and high spending alerts so you receive text messages when your cc is used.
Why do I need to set up fraud/high spending alerts? My CC companies do it automatically. A couple of years ago I received a T/C from the fraud squad at a CC company asking me if had made a X thousand dollar purchase of electronics equipment at a discount store in an urban location 50 miles from my home in the last 2 hours. I said no and was informed that a purchase had been made to my acct. The sale popped up on the CC company fraud squad terminal merely because of the amount and the location was a place I never frequented. CC company canceled the sale and sent me new CC in 24 hours.
Re: How to security freeze your credit?
I forgot to mention that there is a work around if you don't want to unfreeze your credit -- and your time during business hours is open: You can go into the local SS office with your ID (and sit and wait) and they will create your account right there. That's how I did it.Carl53 wrote:SS website had a workaround that allowed frozen credit a few years ago when I tried (may still have it). After several visits to the not so local SS office, I gave up and unfroze Experian for a few days.GerryL wrote: TIP: before freezing your credit, go to the Social Security web site and set up an account. Experian manages the job of authenticating people signing up for a My Social Security account, and for some reason they can't figure out how to overlook a credit freeze THAT THEY HAVE BEEN PAID TO SET UP.
I've unfroze one of the credit agencies rarely as needed. Not much hassle. It sure has been nice not getting as many stupid calls from collections agencies trying to collect on someone with a similar name to mine.
Re: How to security freeze your credit?
You don't "need" to set up spending alerts but keep in mind that your scenario is a very easy catch for the CC companies. If it was a lower purchase amount they likely would have missed it. Someone recently got my debit card number and charged a couple hundred dollars worth at multiple locations. The total was about $2,500 and it took the company a couple days to detect it. If I had alerts set up, I would have caught and canceled it in the first purchase. If I didn't have alerts and the company didn't detect it could have been tens of thousands of dollars stolen. Instead of relying on the company to detect it, I like the added added protection especially considering credit card theft will be increasing.manwithnoname wrote:Huh?sunnyday wrote:CC theft is more common but identity theft is a MUCH bigger pain to deal with. It can also ruin your credit for sometime.manwithnoname wrote: But a security freeze only protects against the opening of a new account in your name. It does not prevent an identity thief from using your current CC accounts to run up charges. If a thief forges charges on a new account under your name how can you be liable for the charges? Seems that most identity theft arises from stealing information to make charges on current CC/DC accounts, i.e., Target or Michaels.
To help protect against cc theft I recommend setting up fraud and high spending alerts so you receive text messages when your cc is used.
Why do I need to set up fraud/high spending alerts? My CC companies do it automatically. A couple of years ago I received a T/C from the fraud squad at a CC company asking me if had made a X thousand dollar purchase of electronics equipment at a discount store in an urban location 50 miles from my home in the last 2 hours. I said no and was informed that a purchase had been made to my acct. The sale popped up on the CC company fraud squad terminal merely because of the amount and the location was a place I never frequented. CC company canceled the sale and sent me new CC in 24 hours.
Re: How to security freeze your credit?
Thanks for the info. Looks like it's free to set up in NC so seems like a no brainer especially since I hardly ever have my credit pulled. I'll add the PIN to password management software that I use.hudson wrote:Here are the rules for NC:sunnyday wrote:Great, thank you. I haven't checked how much it is in North Carolina but it seems like it would be worth the price (of anything just for peace of mind).
For other states do a web search entering the name of your state with the words "credit freeze".
http://www.ncdoj.gov/getdoc/e265b0c0-6a ... reeze.aspx
http://www.ncdoj.gov/getdoc/5ec7dfeb-a2 ... redit.aspx
http://www.ncga.state.nc.us/EnactedLegi ... 75-63.html
Consider creating a cheat sheet with the all the info needed to quickly unfreeze your credit...especially the pin numbers. I didn't think I'd ever need to unfreeze my credit, but I couldn't enter into a new wireless phone contract (or cable...or satellite) without unfreezing all 3. I couldn't write a check to pay for a large purchase...the company had some kind of service that checked your credit before taking your check...and the person I worked with didn't know it....I had to find out though research. The salesman says, "Yes we'll take your check" but the money person has different rules. Some vendors will tell you which credit agency that they use...some rotate...many times the person that you are dealing with is clueless. My future plan is to unlock all three for a week before dealing with a credit situation.
Did you put your cheat sheet where you can find it 3 years from now?
Re: How to security freeze your credit?
+1 . I went ahead and froze all my report todaymasterofinvesting wrote:When I came to know that there is an option to freeze my credit (it wasn't advertised very well), this was how I saw it:
[*] Credit Freeze: Lock the barn before the horse leaves, and unlock it when you want to take the horse for a walk. Very cheap.
[*] Credit Monitoring: Setup a way to monitor the horse (security cameras, etc.,), which lets you know when the horse leaves - so you can go search for it. Expensive, and doesn't really prevent the horse from leaving.
[*] Do Nothing: Don't lock the barn and assume the horse will stay put. Not recommended.
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Re: How to security freeze your credit?
Did any have issues apply for a freeze online at any of the 3 CRA's?
I tried applying online at Experian and they indicated they couldn't honor my request online instead to mail in the required documents. I'm in CA and they charge $10 and noticed Experian charge my cc for that amount even with that notice. However I did see a -$10 later suring the day so looks like they refunded that amount.
Has anyone experienced this issue? How did you apply for a freeze at all 3 bureaus?
Would applying via phone be the fastest safest way?
Appreciate any advice and what your experience is.
I tried applying online at Experian and they indicated they couldn't honor my request online instead to mail in the required documents. I'm in CA and they charge $10 and noticed Experian charge my cc for that amount even with that notice. However I did see a -$10 later suring the day so looks like they refunded that amount.
Has anyone experienced this issue? How did you apply for a freeze at all 3 bureaus?
Would applying via phone be the fastest safest way?
Appreciate any advice and what your experience is.
Re: How to security freeze your credit?
Unless you are in frequent need of requesting credit a credit freeze is a great idea. I have had them for about ten years. One suggestion: make sure you safeguard the pin number that you receive from the credit agency. I learned that lesson the hard way.