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Credit freeze questions

Established Contributor

Credit freeze questions

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.

Thanks!

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$15000 ........... $12500 ............ $11750 ............ $10000 ........... $9400 ............ $5000 ............. $5000
In the Garden until at least November 2015
Message 1 of 5
4 REPLIES
Super Contributor

Re: Credit freeze questions

All your current lenders will still be able to access your reports but no other lenders will have that right unless you authorize 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 2 of 5
Highlighted

Re: Credit freeze questions

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"...

 

Thanks


Starting Score: EQ 768 TU 729
Current Score: EQ 823 TU 821 EX 823
Goal Score: ALL ABOVE 800 (Goal met!)


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Message 3 of 5
New Member

Re: Credit freeze questions

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.  

AMEX Blue Cash Everyday $30k | PenFed Platinum Rewards Signature Visa $25k | Discover IT $19k | Chase Sapphire $15k | Andrews Federal Globetrek Rewards Visa $15k | Community America Platinum Cashback Visa $15k | Citi Diamond Preferred Mastercard $14,4k | Citi Dividend Platinum Select Mastercard $5800k

FICO - 785

The best indicator of your future credit behavior is your past credit behavior.
Message 4 of 5

Re: Credit freeze questions

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.


Starting Score: EQ 768 TU 729
Current Score: EQ 823 TU 821 EX 823
Goal Score: ALL ABOVE 800 (Goal met!)


Who knew not opening new credit accounts for 2 years and paying off those credit cards works?


Take the FICO Fitness Challenge

Message 5 of 5