Freezing Reports

[ronstar7]

Can somene tell me the benefits if any of doing this? Will it stop inquires that I did not initiate. In the garden but still dont want outside intrusion. Also plrease tell me what it DOESNT stop.

Thanks!

[Fico2Go]

the following 3 main reasons:

1:  unsolicited loan or  credit offers;

2:  unauthorized credit check for new accounts;

3:  fraudulent or unauthorized opening of new accounts;

A freind of mine had his credit report accessed by a creditor of a fraudulent account.    He never gave them permission. 

The creditor HPed his file in addtion to SP several times in the course of two weeks. 

If he had frozen his file a HP would not have been possible.  Left unfrozen he had to dispute with the credit bureau to get them removed which could have ended unfavorably. 

A frozen file doesn't stop a SP from happening but great for HP protection.  Anyone with a permissible purpose ( broad term ) can access your credit file  otherwise.