Lifting credit freezes....anyone run into this? now need to create accounts

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F150HD
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Lifting credit freezes....anyone run into this? now need to create accounts

Post by F150HD » Mon Dec 03, 2018 5:03 pm

Many here got PINs freezing credit a year back w/ the Equifax debacle. NOW the pin there is worthless and you have to create an 'account' to freeze/unfreeze? wth?
Maybe I missed it.....seems like one more thing that can be 'hacked'?

Transunion - need an 'account' there too (userid and password), tho they still required the PIN.

Experian- was as expected- just use the PIN to unfreeze, no formal 'account signup' required.

Kinda balked at having more userids and passwords to manage, esp as Equifax couldn't keep data safe to begin with, now they have userids and passwords to protect as well.

:confused

Sorry if this is old news to some...guessing most don't lift freezes that regularly, so, forewarned this is a hurdle ahead if you choose to unfreeze for anything.

Rupert
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Re: Lifting credit freezes....anyone run into this? now need to create accounts

Post by Rupert » Mon Dec 03, 2018 5:05 pm

There was a thread about this a while back. The bureaus made this change in response to the new federal law that makes freezing/unfreezing credit free for everyone.

texas lawdog
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Re: Lifting credit freezes....anyone run into this? now need to create accounts

Post by texas lawdog » Mon Dec 03, 2018 5:07 pm

I recently ran into this and looked at the FAQ's for Equifax,

"Placing, lifting and removing a security freeze is free. You can place, temporarily lift, or permanently remove a security freeze on your Equifax credit report online by creating a myEquifax account. A PIN is no longer required for online security freeze transactions.

To place, temporarily lift, or permanently remove a security freeze on your Equifax credit report, you can also call our automated line at (800) 349-9960. You will need the 10-digit PIN you received when the freeze was originally placed to lift or remove a freeze by phone or mail."

You might think about using a service like Lastpass to keep track of user id's and passwords.

Good Luck,

megabad
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Re: Lifting credit freezes....anyone run into this? now need to create accounts

Post by megabad » Mon Dec 03, 2018 6:51 pm

Correct. In response to the prevalence of data breaches, Some credit bureaus have eliminated the only thing that helped keep people's credit secure. I don't want to make a huge deal about it or attract attention, but I highly recommend everyone setup these accounts right away if you have an older credit freeze in place. Otherwise it is...uh...rather easy for just about anyone to unfreeze just about anyone's credit since they took away your PIN.

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F150HD
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Re: Lifting credit freezes....anyone run into this? now need to create accounts

Post by F150HD » Mon Dec 03, 2018 7:34 pm

megabad wrote:
Mon Dec 03, 2018 6:51 pm
Correct. In response to the prevalence of data breaches, Some credit bureaus have eliminated the only thing that helped keep people's credit secure. I don't want to make a huge deal about it or attract attention, but I highly recommend everyone setup these accounts right away if you have an older credit freeze in place. Otherwise it is...uh...rather easy for just about anyone to unfreeze just about anyone's credit since they took away your PIN.
thats exactly what I was thinking- hence this thread. The PIN at Equifax is worthless, anyone w/ your email address and basic info about you could potentially create an account in your name, its absurd.

Discussion I followed before (and news articles I've read) was mainly that it is now 'free' to freeze, nothing about the PINs being pointless and how unsecure this is.

Looks like Innovis is still PIN based as is Chexsystems thankfully.
Last edited by F150HD on Mon Dec 03, 2018 7:37 pm, edited 1 time in total.

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F150HD
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Re: Lifting credit freezes....anyone run into this? now need to create accounts

Post by F150HD » Mon Dec 03, 2018 7:35 pm

Rupert wrote:
Mon Dec 03, 2018 5:05 pm
There was a thread about this a while back. The bureaus made this change in response to the new federal law that makes freezing/unfreezing credit free for everyone.
was aware of the shift to free, tho I'd pay for a freeze anyway, That the PIN (for Equifax) has become worthless is a head scratcher.

SimonJester
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Re: Lifting credit freezes....anyone run into this? now need to create accounts

Post by SimonJester » Tue Dec 04, 2018 8:31 am

This is absolutely insane, there was no account verification on Equifax at all. I thought they would at least ask the normal security questions like when obtaining a credit report for the account creation. So yes create the account before someone else creates it for you...
"They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety." - Benjamin Franklin

athenslb57
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Re: Lifting credit freezes....anyone run into this? now need to create accounts

Post by athenslb57 » Wed Dec 05, 2018 5:19 pm

If you already have a "freeze" in place with a PIN then you cannot place a "lock" on your account. So someone cannot sign up for a new account @ Equifax and "lock" your account. I just tried to signup for the lock & alert app but was unable to because I have an existing "freeze" in place. This was verified after speaking with a supervisor. You can use either but not both.

https://www.consumer.ftc.gov/blog/2017/ ... uifax-faqs

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GoldStar
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Re: Lifting credit freezes....anyone run into this? now need to create accounts

Post by GoldStar » Wed Dec 05, 2018 10:01 pm

Recent thread on this:
viewtopic.php?t=261733

sid hartha
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Re: Lifting credit freezes....anyone run into this? now need to create accounts

Post by sid hartha » Thu Dec 06, 2018 12:41 pm

athenslb57 wrote:
Wed Dec 05, 2018 5:19 pm
If you already have a "freeze" in place with a PIN then you cannot place a "lock" on your account. So someone cannot sign up for a new account @ Equifax and "lock" your account. I just tried to signup for the lock & alert app but was unable to because I have an existing "freeze" in place. This was verified after speaking with a supervisor. You can use either but not both.

https://www.consumer.ftc.gov/blog/2017/ ... uifax-faqs
I guess the question is could someone create an account and unfreeze your account if you did it long ago under the old way with the PIN. It seems like the answer might be yes, not sure what safeguards are in place. So what I am hearing is for those of us that did this long ago we might now need to create accounts to manage this since they have done away with the PIN process. Does that sound correct? Thanks for alerting the Boglehead Community to this issue!

Rupert
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Re: Lifting credit freezes....anyone run into this? now need to create accounts

Post by Rupert » Thu Dec 06, 2018 12:47 pm

sid hartha wrote:
Thu Dec 06, 2018 12:41 pm
athenslb57 wrote:
Wed Dec 05, 2018 5:19 pm
If you already have a "freeze" in place with a PIN then you cannot place a "lock" on your account. So someone cannot sign up for a new account @ Equifax and "lock" your account. I just tried to signup for the lock & alert app but was unable to because I have an existing "freeze" in place. This was verified after speaking with a supervisor. You can use either but not both.

https://www.consumer.ftc.gov/blog/2017/ ... uifax-faqs
I guess the question is could someone create an account and unfreeze your account if you did it long ago under the old way with the PIN. It seems like the answer might be yes, not sure what safeguards are in place. So what I am hearing is for those of us that did this long ago we might now need to create accounts to manage this since they have done away with the PIN process. Does that sound correct? Thanks for alerting the Boglehead Community to this issue!
Yes, you need to create an account, particularly at Equifax. (I believe -- but hope to be corrected if wrong -- that the old PIN is still required at some stage of the account-creation process at Experian and TransUnion). I just temporarily unfroze my file at Equifax earlier this week and had to create an account to do so. At no point during the account creation process did they ask for the PIN they gave me when I initially froze my file. I did have to enter my social security number, etc., to create the account. But if someone has stolen your identity and has your personal information, then they could create an account in your name at Equifax and unfreeze your file without you ever knowing it. I did not even receive an email, etc., from Equifax confirming that I had created an account or temporarily unfrozen my file.

Edited to add this update: Equifax finally sent me a confirmation email about 5 days after I created my account.

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