[Credit freezes and un-freezes are now free]

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student
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[Credit freezes and un-freezes are now free]

Post by student » Thu May 24, 2018 7:48 pm

[See update below (Page 2). --admin LadyGeek]

https://www.doctorofcredit.com/congress ... t-freezes/

It has been signed by the President.

https://www.cnbc.com/2018/05/24/trump-s ... tions.html

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TimeRunner
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Re: Free to freeze and unfreeze your credit report

Post by TimeRunner » Thu May 24, 2018 7:52 pm

Dang, that's good news. Strange that the news didn't surface in any mainstream publications that I read, although I could have missed it (WSJ, NYT, LAT, WashPo). A typical unfreeze is $30 for the Big 3 here in California, double that if my wife's required to do that. :beer
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Re: Free to freeze and unfreeze your credit report

Post by JBTX » Thu May 24, 2018 8:20 pm

TimeRunner wrote:
Thu May 24, 2018 7:52 pm
Dang, that's good news. Strange that the news didn't surface in any mainstream publications that I read, although I could have missed it (WSJ, NYT, LAT, WashPo). A typical unfreeze is $30 for the Big 3 here in California, double that if my wife's required to do that. :beer
It is buried in a bill that rolls back parts of Dodd Frank - which is more headline grabbing.

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Re: Free to freeze and unfreeze your credit report

Post by LadyGeek » Thu May 24, 2018 8:45 pm

Here's the official source: S.2155 - 115th Congress (2017-2018): Economic Growth, Regulatory Relief, and Consumer Protection Act | Congress.gov | Library of Congress
Latest action: 05/24/2018 Became Public Law No: 115-174.

TITLE III--PROTECTIONS FOR VETERANS, CONSUMERS, AND HOMEOWNERS

(Sec. 301) The bill amends the Fair Credit Reporting Act to increase the length of time a consumer reporting agency must include a fraud alert in a consumer's file. It also: (1) requires a consumer reporting agency to provide a consumer with free credit freezes and to notify a consumer of their availability, (2) establishes provisions related to the placement and removal of these freezes, (3) creates requirements related to the protection of the credit records of minors.
The wiki will need to be updated: Credit freeze

What does it mean by "(2) establishes provisions related to the placement and removal of these freezes," as there is no mention that it is free to remove the freeze?
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Re: Free to freeze and unfreeze your credit report

Post by fortfun » Thu May 24, 2018 9:17 pm

LadyGeek wrote:
Thu May 24, 2018 8:45 pm
Here's the official source: S.2155 - 115th Congress (2017-2018): Economic Growth, Regulatory Relief, and Consumer Protection Act | Congress.gov | Library of Congress
Latest action: 05/24/2018 Became Public Law No: 115-174.

TITLE III--PROTECTIONS FOR VETERANS, CONSUMERS, AND HOMEOWNERS

(Sec. 301) The bill amends the Fair Credit Reporting Act to increase the length of time a consumer reporting agency must include a fraud alert in a consumer's file. It also: (1) requires a consumer reporting agency to provide a consumer with free credit freezes and to notify a consumer of their availability, (2) establishes provisions related to the placement and removal of these freezes, (3) creates requirements related to the protection of the credit records of minors.
The wiki will need to be updated: Credit freeze

What does it mean by "(2) establishes provisions related to the placement and removal of these freezes," as there is no mention that it is free to remove the freeze?
I doubt they'll be free. However, there are a few states that require freeze/unfreeze to be free. I don't know why they all don't...

student
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Re: Free to freeze and unfreeze your credit report

Post by student » Thu May 24, 2018 9:37 pm

LadyGeek wrote:
Thu May 24, 2018 8:45 pm
Here's the official source: S.2155 - 115th Congress (2017-2018): Economic Growth, Regulatory Relief, and Consumer Protection Act | Congress.gov | Library of Congress
Latest action: 05/24/2018 Became Public Law No: 115-174.

TITLE III--PROTECTIONS FOR VETERANS, CONSUMERS, AND HOMEOWNERS

(Sec. 301) The bill amends the Fair Credit Reporting Act to increase the length of time a consumer reporting agency must include a fraud alert in a consumer's file. It also: (1) requires a consumer reporting agency to provide a consumer with free credit freezes and to notify a consumer of their availability, (2) establishes provisions related to the placement and removal of these freezes, (3) creates requirements related to the protection of the credit records of minors.
The wiki will need to be updated: Credit freeze

What does it mean by "(2) establishes provisions related to the placement and removal of these freezes," as there is no mention that it is free to remove the freeze?
Interesting. It does seem to only mention free credit freezes but made no mention of "free" removal. All the news outlets seem to think that it is free for both freezing and lifting. For example: http://money.cnn.com/2018/05/22/pf/free ... index.html
"The new legislation will make placing, lifting, and permanently removing freezes free no matter where you live."

I guess we would know in about four months when it takes effect, according to the cnn article.

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Re: Free to freeze and unfreeze your credit report

Post by uberme » Thu May 24, 2018 9:42 pm

Wasn't the removal always free but adding had a cost? Should be completely free now which is great news!

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Re: Free to freeze and unfreeze your credit report

Post by TimeRunner » Thu May 24, 2018 10:06 pm

uberme wrote:
Thu May 24, 2018 9:42 pm
Wasn't the removal always free but adding had a cost? Should be completely free now which is great news!
No, removal was $10 per person for each credit bureau in Calif. If you were, for example, applying for a mortgage re-fi with your spouse, you would be paying $60, maybe even twice. (Once at application, once just before signature as a Freddie Mac/Fanny Mae requirement.) I will be delightfully surprised if removal is free.
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Re: Free to freeze and unfreeze your credit report

Post by LadyGeek » Fri May 25, 2018 8:40 am

The bill's summary page was just that - a summary. To be sure, I checked the actual text. It was in the "text" tab: Text - S.2155

Then, click on S. 2155 (Enrolled-Bill) - XML format (your web browser understands this format, wait for the page to load)

Found it! I underlined the important parts:
SEC. 301. PROTECTING CONSUMERS’ CREDIT.

'''
(2) PLACEMENT OF SECURITY FREEZE.—

“(A) IN GENERAL.—Upon receiving a direct request from a consumer that a consumer reporting agency place a security freeze, and upon receiving proper identification from the consumer, the consumer reporting agency shall, free of charge, place the security freeze not later than—

“(i) in the case of a request that is by toll-free telephone or secure electronic means, 1 business day after receiving the request directly from the consumer; or

“(ii) in the case of a request that is by mail, 3 business days after receiving the request directly from the consumer.

...

(3) REMOVAL OF SECURITY FREEZE.—

“(C) REMOVAL OF SECURITY FREEZE BY CONSUMER REQUEST.—Except as provided in subparagraph (A)(ii), a security freeze shall remain in place until the consumer directly requests that the security freeze be removed. Upon receiving a direct request from a consumer that a consumer reporting agency remove a security freeze, and upon receiving proper identification from the consumer, the consumer reporting agency shall, free of charge, remove the security freeze not later than—

“(i) in the case of a request that is by toll-free telephone or secure electronic means, 1 hour after receiving the request for removal; or

“(ii) in the case of a request that is by mail, 3 business days after receiving the request for removal.
Freezing and unfreezing your credit report is indeed free. :beer

Also, the last part of Section 301:
(c) Effective Date.—The amendments made by this section shall take effect on the date that is 120 days after the date of enactment of this Act.
So, 120 days after 05/24/2018 (May 24, 2018) is 9/20/2018 (September 20, 2018) - the last day is included in the calculation.

Update: Added "Placement of security freeze" to quoted bill.

Update 9/17/2018: The legislation will take effect on 9/21/2018. See: Re: New York Times--NYTimes: Freezing Credit Will Now Be Free. Here’s Why You Should Go for It.
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Re: Free to freeze and unfreeze your credit report

Post by LadyGeek » Fri May 25, 2018 1:56 pm

FYI - The actual legislative change applies to the Fair Credit Reporting Act.
SEC. 301. PROTECTING CONSUMERS’ CREDIT.

(a) In General.—Section 605A of the Fair Credit Reporting Act (15 U.S.C. 1681c–1) is amended—
The wiki has been revised. See: Credit freeze

(Updates to the wiki article can be discussed in: Wiki article - Credit freeze)
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2015
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Re: Free to freeze and unfreeze your credit report

Post by 2015 » Fri May 25, 2018 6:45 pm

I agree this is the best news and about time for those of us in states like here in CA that have allowed the big credit agencies to extort for removal of freezes.

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Re: Free to freeze and unfreeze your credit report

Post by SimonJester » Sat May 26, 2018 8:22 am

This is great news, and will push me back to a freeze vs a lock. It should have been free from the beginning, my state is also one that allows a $10 charge for a freeze and thaw. Now the credit agencies will just push their credit monitoring and credit score products. This is a win for us for sure...
"They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety." - Benjamin Franklin

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Re: Free to freeze and unfreeze your credit report

Post by pennstater2005 » Sat May 26, 2018 8:09 pm

Just saw this. Makes jumping back into the credit card game much easier.

Removals were free in PA. Temporary lifts were $10 although only Experian charged for that.
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Re: Free to freeze and unfreeze your credit report

Post by mpsz » Sat May 26, 2018 8:27 pm

Connecticut just passed a similar law earlier this month. Glad to see this done on the national level too.

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Free credit freezes and un-freezes after Sep 21, 2018

Post by VictoriaF » Tue Sep 11, 2018 9:33 am

My source is Brian Krebs: https://krebsonsecurity.com/2018/09/in- ... -fee-free/

Read his post and follow his links:
- CFPB - guide to agencies collecting consumer information [PDF]: https://files.consumerfinance.gov/f/201 ... panies.pdf
- Krebs's May 2018 article about NCTUE collecting consumer information: https://krebsonsecurity.com/2018/05/ano ... nctue-com/

Read comments:
- Krebs's readers reveal various difficulties with setting and removing freezes.
- One person writes that you may be able to place a free freeze now, before September 21, because credit reporting agencies are rolling them state by state.

Victoria
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Re: Free credit freezes and un-freezes after Sep 21, 2018

Post by Housedoc » Tue Sep 11, 2018 9:35 am

Long overdue. My state was changed $10 per agency.

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Re: Free credit freezes and un-freezes after Sep 21, 2018

Post by JBTX » Tue Sep 11, 2018 10:42 am

Thanks for posting. I was wondering when it took effect.

I haven't frozen credit yet, but I may do so after this is in effect.

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damjam
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Re: Free credit freezes and un-freezes after Sep 21, 2018

Post by damjam » Tue Sep 11, 2018 11:03 am

This is great.
My spouse and I froze our credit after the whole Equifax (or was it Experian?) debacle.
I have had to unfreeze mine it on two occasions since then. Once all three credit reporting companies and the second time just one of the companies. It seemed relatively painless. Both times I unfroze for a limited time period, so I didn't have to do anything to refreeze.
The fee is/was an annoyance.
I have yet to try to get a free credit report since freezing, so I'm wondering how well that will go. It's coming up on a year, so I guess I'll find out soon enough.

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HueyLD
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Re: Free credit freezes and un-freezes after Sep 21, 2018

Post by HueyLD » Tue Sep 11, 2018 11:11 am

I have gotten free credit reports from all three companies since the freeze.

No problems getting the reports. And it is so comforting to see the phrase of security freeze on each report.

P.s. Many thanks to Victoria for the PSA.

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SquawkIdent
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Re: Free credit freezes and un-freezes after Sep 21, 2018

Post by SquawkIdent » Tue Sep 11, 2018 11:17 am

My question is will the credit bureau's be reimbursing folks for all the fees paid prior to this to freeze and unfreeze our accounts? Maybe the credit card companies should get involved in this too because the the freezes were caused by negligence by the bureau's.

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HueyLD
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Re: Free credit freezes and un-freezes after Sep 21, 2018

Post by HueyLD » Tue Sep 11, 2018 11:58 am

SquawkIdent wrote:
Tue Sep 11, 2018 11:17 am
My question is will the credit bureau's be reimbursing folks for all the fees paid prior to this to freeze and unfreeze our accounts? Maybe the credit card companies should get involved in this too because the the freezes were caused by negligence by the bureau's.
I agree with what you said, but I don't think the CBs will be required to reimburse fees collected prior to 9/21.

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Re: Free credit freezes and un-freezes after Sep 21, 2018

Post by mariezzz » Wed Sep 12, 2018 11:24 am

Will wait before freezing, to find out how 'unfreezing' goes for others.

Free is generally good though. I doubt unfreezing will be any worse under 'free' than 'fee'.

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Re: Free credit freezes and un-freezes after Sep 21, 2018

Post by elderwise » Thu Sep 13, 2018 10:15 am

An interesting twist to this good thing' , and what I also read in the comment on the linked blog article.

It will become easier , to the crooks / ID thieves as well to place such freezes / unfreeze on our CR's - how will this be countered?

Thoughts?

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Re: Free credit freezes and un-freezes after Sep 21, 2018

Post by camillus » Thu Sep 13, 2018 10:24 am

DW and I froze all credit (including Chexis and Innovis) after the Equifax breach, paying various fees.

Since then we have done a "temporary thaw" once each. It was actually fairly painless. In the "temporary thaw" process you simply go to the website, enter your PIN, and select how long you would like your reports unfrozen. When the re-freeze date comes, your reports are frozen again without any action on your part. I'd estimate it took 15-20 minutes to do a temporary thaw.

One temporary thaw was required when we switched broadband internet providers. A switch to a mobile phone provider would also require access to your credit report.

I set up a mysocialsecurity account for myself during a thaw, but I missed the window for DW. So if I want to set that up, I would have to initiate a thaw on her side. So I suppose this whole deal is a bit of a pain.

I'd rather be frozen than not though. It seems like every week I get notified of another breach or that one of my accounts is listed in the dark web somewhere. Identity theft would be a LOT more of a pain than freezing/unfreezing.

Also, I have some peace of mind with creditkarma.com. I get an email when something changes with my credit reports, and can view my full reports at any time with Equifax and Transunion, I believe.

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Re: Free credit freezes and un-freezes after Sep 21, 2018

Post by AJS » Thu Sep 13, 2018 10:34 am

elderwise wrote:
Thu Sep 13, 2018 10:15 am
An interesting twist to this good thing' , and what I also read in the comment on the linked blog article.

It will become easier , to the crooks / ID thieves as well to place such freezes / unfreeze on our CR's - how will this be countered?

Thoughts?
The thought is that if crooks have someone's information and find out that there is a security freeze, then they just give up and move to the next person who may not have their credit file frozen. Crooks typically go for the easy targets. Also, there is an 11 digit code that only you know which is needed to thaw your credit. The number is obviously stored on the rating agencies servers so it can be stolen but this would be a deterrent as well. My opinion is that it is best to have a freeze in place.
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Re: Free credit freezes and un-freezes after Sep 21, 2018

Post by VictoriaF » Thu Sep 13, 2018 10:47 am

elderwise wrote:
Thu Sep 13, 2018 10:15 am
An interesting twist to this good thing' , and what I also read in the comment on the linked blog article.

It will become easier , to the crooks / ID thieves as well to place such freezes / unfreeze on our CR's - how will this be countered?

Thoughts?
This is a case, similar to creating your online IRS and Social Security accounts, where you should place a freeze as soon as possible before crooks have done it for you. After you have a freeze, others can't do it on your behalf.

Victoria
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Re: Free credit freezes and un-freezes after Sep 21, 2018

Post by lthenderson » Thu Sep 13, 2018 10:53 am

VictoriaF wrote:
Tue Sep 11, 2018 9:33 am

- One person writes that you may be able to place a free freeze now, before September 21, because credit reporting agencies are rolling them state by state.
I thawed and then froze all three of my accounts two weeks ago without any fees. I was surprised at the time. Hadn't heard about this until now.

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Re: Free credit freezes and un-freezes after Sep 21, 2018

Post by arsenalfan » Thu Sep 13, 2018 10:56 am

I froze my and my partners' credit at Innovis, Transunion, Experian & Equifax.
Recently I needed to unfreeze for a credit card. Called Transunion, entered SSN and PIN# and specified # of days I wanted the thaw.
All automated.
Went fine, took 2 minutes (one to find the paper I made with all the pin#s and phone #s/websites).

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New York Times--NYTimes: Freezing Credit Will Now Be Free. Here’s Why You Should Go for It.

Post by Paul Romano » Sun Sep 16, 2018 2:41 pm

[Thread merged into here, see below. --admin LadyGeek]

New York Times 9/16/18


Freezing Credit Will Now Be Free. Here’s Why You Should Go for It.

https://www.nytimes.com/2018/09/14/you ... tcore-ipad


"Consumers will soon be able to freeze their credit files without charge. So if you have not yet frozen your files — a recommended step to foil identity theft — now is a good time to take action, consumer advocates say.

Security freezes, often called credit freezes, are “absolutely” the best way to prevent criminals from using your personal information to open new accounts in your name, said Paul Stephens, director of policy and advocacy with Privacy Rights Clearinghouse, a consumer advocacy nonprofit group.

Free freezes, which will be available next Friday, were required as part of broader financial legislation signed in May by President Trump.


Freezes will not protect you from other types of fraud, like someone using the number of a credit card you already have, or impersonating you online to claim your Social Security benefits. To help prevent those types of theft, Mr. Litt recommends checking your credit card statements regularly for suspicious charges, and setting up and monitoring an online Social Security account, to prevent criminals from opening one first and diverting your benefit checks. A PIRG report suggests other helpful steps as well.

Checking your credit report periodically is also wise. You are entitled to one free copy each year from the big three bureaus at annualcreditreport.com. (A security freeze will not prevent you from getting your free annual report, the F.T.C. says.)"

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Re: New York Times--NYTimes: Freezing Credit Will Now Be Free. Here’s Why You Should Go for It.

Post by jehovasfitness » Sun Sep 16, 2018 2:43 pm

Froze ours. Then because you have to do 3 separate freezes for each spouse that's 6 logins/passwords.

We were car shopping recently and what a PITA to unfreeze

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Re: New York Times--NYTimes: Freezing Credit Will Now Be Free. Here’s Why You Should Go for It.

Post by LadyGeek » Sun Sep 16, 2018 3:04 pm

This thread is now in the Personal Finance (Not Investing) forum (credit freeze).

We've followed this since the legislation was changed. See: Free to freeze and unfreeze your credit report

In that thread, I calculated that the law would go into effect on September 20, 2018 (next Thursday). Was I off by a day?
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Re: New York Times--NYTimes: Freezing Credit Will Now Be Free. Here’s Why You Should Go for It.

Post by drk » Sun Sep 16, 2018 3:08 pm

shelanman wrote:
Sun Sep 16, 2018 2:44 pm
Wouldn't it be great if the news reported the facts instead of the conclusion you're supposed to draw from them?
This is a column called "Your Money Adviser".

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Re: New York Times--NYTimes: Freezing Credit Will Now Be Free. Here’s Why You Should Go for It.

Post by EddyB » Sun Sep 16, 2018 3:56 pm

drk wrote:
Sun Sep 16, 2018 3:08 pm
shelanman wrote:
Sun Sep 16, 2018 2:44 pm
Wouldn't it be great if the news reported the facts instead of the conclusion you're supposed to draw from them?
This is a column called "Your Money Adviser".
In any case, the only opinion ventured by the author seems to be “[c]hecking your credit report periodically is also wise.” The article does report the facts that certain consumer advocates suggest particular courses of action, and that certain researchers have made various findings. Pretty sure that’s how news reporting is supposed to work.

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Re: New York Times--NYTimes: Freezing Credit Will Now Be Free. Here’s Why You Should Go for It.

Post by tj » Sun Sep 16, 2018 10:59 pm

Maybe it already is free? I was able to unfreeze mine last week and I wasn't charged.

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Re: New York Times--NYTimes: Freezing Credit Will Now Be Free. Here’s Why You Should Go for It.

Post by MindBogler » Sun Sep 16, 2018 11:24 pm

I lost interest in the article immediately upon reading the title. This modern day practice of describing one's premise in the title of an article is nothing more than a dog whistle for those who cannot think crtically for themselves.

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Re: New York Times--NYTimes: Freezing Credit Will Now Be Free. Here’s Why You Should Go for It.

Post by drk » Sun Sep 16, 2018 11:38 pm

tj wrote:
Sun Sep 16, 2018 10:59 pm
Maybe it already is free? I was able to unfreeze mine last week and I wasn't charged.
It also depends on the state. Washington State residents have been able to freeze/unfreeze for free since June 7.

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Re: New York Times--NYTimes: Freezing Credit Will Now Be Free. Here’s Why You Should Go for It.

Post by HueyLD » Mon Sep 17, 2018 9:42 am

LadyGeek wrote:
Sun Sep 16, 2018 3:04 pm
This thread is now in the Personal Finance (Not Investing) forum (credit freeze).

We've followed this since the legislation was changed. See: Free to freeze and unfreeze your credit report

In that thread, I calculated that the law would go into effect on September 20, 2018 (next Thursday). Was I off by a day?
LG,

May 24 was a Thursday. And 120 days includes 17 weeks and one day. So, 120 days from May 24 falls on Friday, 9/21.

Isn't math fun? :)

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Re: New York Times--NYTimes: Freezing Credit Will Now Be Free. Here’s Why You Should Go for It.

Post by damjam » Mon Sep 17, 2018 10:15 am

jehovasfitness wrote:
Sun Sep 16, 2018 2:43 pm
Froze ours. Then because you have to do 3 separate freezes for each spouse that's 6 logins/passwords.

We were car shopping recently and what a PITA to unfreeze
Sorry to hear that you found the unfreezing process to be burdensome.

Spouse and I froze last year after the Equifax debacle. I've had to unfreeze mine twice since then. Once all three credit reporting companies and another time just one. Didn't seem that bad to me. Both times the unfreeze was for a specified period, so no further effort on my part to refreeze.

I will say that many years ago we had our credit frozen and unfreezing was much less streamlined. Had to do it by letter if I remember correctly.

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Re: New York Times--NYTimes: Freezing Credit Will Now Be Free. Here’s Why You Should Go for It.

Post by blevine » Mon Sep 17, 2018 10:06 pm

If you have your unfreeze pin, the process does not take that long. Did this twice in last few months. One of the big 3 was more difficult than the others, but was able to unfreeze all 3, and have it set for a period so we could go about our business and know it will freeze again without intervention. Unfreeze for a month in case your car deal falls through, and you need time to start again with another dealer. You can unfreeze indefinitely then freeze again when done, but I felt it less work to go through the steps once to unfreeze/refreeze, if you can approximate how long you may need to finalize use of your credit reports.

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Re: New York Times--NYTimes: Freezing Credit Will Now Be Free. Here’s Why You Should Go for It.

Post by LadyGeek » Mon Sep 17, 2018 10:43 pm

HueyLD wrote:
Mon Sep 17, 2018 9:42 am
LadyGeek wrote:
Sun Sep 16, 2018 3:04 pm
This thread is now in the Personal Finance (Not Investing) forum (credit freeze).

We've followed this since the legislation was changed. See: Free to freeze and unfreeze your credit report

In that thread, I calculated that the law would go into effect on September 20, 2018 (next Thursday). Was I off by a day?
LG,

May 24 was a Thursday. And 120 days includes 17 weeks and one day. So, 120 days from May 24 falls on Friday, 9/21.

Isn't math fun? :)
Thanks. I missed an important word - "after":
(c) Effective Date.—The amendments made by this section shall take effect on the date that is 120 days after the date of enactment of this Act.
The wiki is phrased the same way ("after"), so 2 wrongs make 1 right. :)

See: Credit freeze - Bogleheads (Fees vary by state)
wiki wrote: The Fair Credit Reporting Act (15 U.S.C. 1681c–1) was changed on May 24, 2018. Fees for placing and removing a credit freeze will no longer apply after September 20, 2018
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.

GCD
Posts: 547
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Re: New York Times--NYTimes: Freezing Credit Will Now Be Free. Here’s Why You Should Go for It.

Post by GCD » Tue Sep 18, 2018 2:37 am

To be honest, I find all the advice to freeze your credit highly annoying. My wife and I have had ours frozen since around 2002. The easier and cheaper and more common it is for people to do it the more incentive there is for crooks to overcome it. Right now it is pretty effective. I wonder how long that will last. It's only a matter of time before the credit freeze is no longer an effective tool.

Any ideas on what the next stage of security is? What can be done to separate oneself from the millions of people wising up to the credit freeze? Gotta stay one step ahead don't you know.

It's kind of like driving with your headlights on in the daytime. Once everyone does it you don't stand out anymore. Then you get motorcyclists with weird flashing lights trying to up their visibility in the visibility arms race. This is just a security arms race and now the masses are going to freeze their credit we need to move on to the next level.

Any suggestions?

denovo
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Re: New York Times--NYTimes: Freezing Credit Will Now Be Free. Here’s Why You Should Go for It.

Post by denovo » Tue Sep 18, 2018 2:58 am

Anyone know if temp unfreezing is also free?
"Don't trust everything you read on the Internet"- Abraham Lincoln

international001
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Re: New York Times--NYTimes: Freezing Credit Will Now Be Free. Here’s Why You Should Go for It.

Post by international001 » Tue Sep 18, 2018 4:35 am

How easy is it to unfreeze it? I like to play the new credit card game to get bonus miles

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damjam
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Re: New York Times--NYTimes: Freezing Credit Will Now Be Free. Here’s Why You Should Go for It.

Post by damjam » Tue Sep 18, 2018 7:34 am

international001 wrote:
Tue Sep 18, 2018 4:35 am
How easy is it to unfreeze it? I like to play the new credit card game to get bonus miles
Unfreezing is simple. Probably too simple as GCD alluded to.

When you freeze (which can often be done online, but not always) you receive a PIN for unfreezing.
Obviously keep the PIN safe.

When you need to unfreeze you go to their website or call a number provided and follow the prompts. Takes only a few minutes for each credit reporting company.

Earlier this year, when I needed to unfreeze a single credit reporting company to open a new utility type of account, I was able to unfreeze immediately and call the same day to the utility and open the account. I only unfroze for the one day. I was actually surprised the recent unfreeze was so quick. In the past the unfreeze was not so immediate and sometimes required writing a letter.
If your doing something like shopping for a car, mortgage, or applying for CCs you'll probably need to unfreeze for a more extended amount of time.

JBTX
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Re: New York Times--NYTimes: Freezing Credit Will Now Be Free. Here’s Why You Should Go for It.

Post by JBTX » Tue Sep 18, 2018 11:45 am

damjam wrote:
Tue Sep 18, 2018 7:34 am
international001 wrote:
Tue Sep 18, 2018 4:35 am
How easy is it to unfreeze it? I like to play the new credit card game to get bonus miles
Unfreezing is simple. Probably too simple as GCD alluded to.

When you freeze (which can often be done online, but not always) you receive a PIN for unfreezing.
Obviously keep the PIN safe.

When you need to unfreeze you go to their website or call a number provided and follow the prompts. Takes only a few minutes for each credit reporting company.

Earlier this year, when I needed to unfreeze a single credit reporting company to open a new utility type of account, I was able to unfreeze immediately and call the same day to the utility and open the account. I only unfroze for the one day. I was actually surprised the recent unfreeze was so quick. In the past the unfreeze was not so immediate and sometimes required writing a letter.
If your doing something like shopping for a car, mortgage, or applying for CCs you'll probably need to unfreeze for a more extended amount of time.
If you apply for a credit card, and your credit is frozen, does cc contact you? How? Do they tell you which reporting agency they are using?

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HueyLD
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Re: New York Times--NYTimes: Freezing Credit Will Now Be Free. Here’s Why You Should Go for It.

Post by HueyLD » Tue Sep 18, 2018 11:48 am

Yes, the cc company will send you a letter with a dedicated number to call.

You call that number and ask them which credit bureau they use.

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damjam
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Re: New York Times--NYTimes: Freezing Credit Will Now Be Free. Here’s Why You Should Go for It.

Post by damjam » Tue Sep 18, 2018 12:22 pm

JBTX wrote:
Tue Sep 18, 2018 11:45 am
damjam wrote:
Tue Sep 18, 2018 7:34 am
international001 wrote:
Tue Sep 18, 2018 4:35 am
How easy is it to unfreeze it? I like to play the new credit card game to get bonus miles
Unfreezing is simple. Probably too simple as GCD alluded to.

When you freeze (which can often be done online, but not always) you receive a PIN for unfreezing.
Obviously keep the PIN safe.

When you need to unfreeze you go to their website or call a number provided and follow the prompts. Takes only a few minutes for each credit reporting company.

Earlier this year, when I needed to unfreeze a single credit reporting company to open a new utility type of account, I was able to unfreeze immediately and call the same day to the utility and open the account. I only unfroze for the one day. I was actually surprised the recent unfreeze was so quick. In the past the unfreeze was not so immediate and sometimes required writing a letter.
If your doing something like shopping for a car, mortgage, or applying for CCs you'll probably need to unfreeze for a more extended amount of time.
If you apply for a credit card, and your credit is frozen, does cc contact you? How? Do they tell you which reporting agency they are using?
I would imagine you could call and ask even before you apply. That's what I did when I got the utility hook up.

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celia
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Location: SoCal

Re: New York Times--NYTimes: Freezing Credit Will Now Be Free. Here’s Why You Should Go for It.

Post by celia » Tue Sep 18, 2018 12:24 pm

This is not news. We froze our accounts several years ago, for free.

okayplayer
Posts: 3
Joined: Sat Feb 24, 2018 7:26 pm

Re: New York Times--NYTimes: Freezing Credit Will Now Be Free. Here’s Why You Should Go for It.

Post by okayplayer » Tue Sep 18, 2018 4:29 pm

Do you all recommend freezing your credit for your kids (age 5,3,1)? Any reason to/not to?

SchruteB&B
Posts: 37
Joined: Mon Jul 02, 2018 7:48 am

Re: New York Times--NYTimes: Freezing Credit Will Now Be Free. Here’s Why You Should Go for It.

Post by SchruteB&B » Tue Sep 18, 2018 4:43 pm

celia wrote:
Tue Sep 18, 2018 12:24 pm
This is not news. We froze our accounts several years ago, for free.
How nice that you had that option.
I do think it is news, as I live in a state where there was a charge to freeze, and unfreeze. Every time.

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