So in an attempt to force me to garden, I am considering putting a freeze on my credit report ot make it more difficult to apply for new accounts. My understanding is that lenders you currently have a relationship with (in my case, AMEX, Citi, Discover, Barclays and Bank of America) can still access/update credit reports as needed, correct? So would I need to unfreeze my CR to allow AMEX to give me a 6 month CLI (Blue Cash) since they are a SP? I know Barclays HPs, and I am considering apping in June for a CLI if I don't get an auto-CLI from them by then. Will I have to unfreeze for them? Also, I'm assuming accounts I've already applied for but haven't reported yet will still be reported, correct (in my case, the Blue Sky)? Also, putting a freeze on my account won't affect my ability to use my current accounts in any way, correct? The information I read on Experian's website kind of made it sound like I might affect my ability to use my accounts by doing so.
All your current lenders will still be able to access your reports but no other lenders will have that right unless you authorize
I jump from employer to employer as a contractor. Sometimes my new employer will want to run a background check on me before I can work.
Will freezing my 3 credit bureau accounts cause the investigators to not be able to see my credit report? I want them to have read access (I pay my bills, I have lived at only 2 addresses in 20 years for example). It seems reasonable that a frozen account could get a "soft inquiry"...
Yes, everyone you have an account with currently will be able to access your credit freely withouit any trouble. CLIs are different for some companies. Some will give you an automatic increase after a certain amount of time. Others will need a hard pull if you request it. I think Chase is this way.
The text below is from Experian showing what a Security Freeze does not include. I want is to freeze anyone from opening a new line of credit in my name (which this would do). What I do not want is to block a potential employer from getting rejected when looking up my credit report (pre-screening). If Experian is correct, I should be covered. Got my Target Email today. Time to take action..
[Experian] Security Freeze Exceptions
Placing a "security freeze" on your credit report prohibits us from releasing any information in your credit report without your express authorization, except to those with whom you have an existing account or a collection agency acting on behalf of the existing account, for purposes of reviewing (account maintenance, monitoring, credit line increases and account upgrades and enhancements) or collecting the account. Your information also may be used for the purposes of prescreening as provided for by the federal Fair Credit Reporting Act, even if a security freeze is on the report.