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Freezeeeeeng! Credit Reports, or Monitoring Service.

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Cory
Established Contributor

Freezeeeeeng! Credit Reports, or Monitoring Service.

Hello,

 

I'm interested in placing a credit freeze, or some type of lock on all three credit reporting agency without having to pay a fee. I am planning on opting out of pre-screen offers of credit, and going far under the radar from now on. I have more credit than I need, and more CU accounts then I need.

 

So what is the best way to go about this?

  1. If I place a freeze on the 3 CB's, how long will the freeze last?

I'm looking to keep something going for years to come. Can someone chime in on this post? Or would suggest something for me?

 

Thanks for your help,

Cory

Message 1 of 5
4 REPLIES 4
Anonymous
Not applicable

Re: Freezeeeeeng! Credit Reports, or Monitoring Service.

You have to inform each CB separately and credit freeze could be associated with some fees depends on the state you live.

I would recommend contact the CB directly or online so you can check you state's rules/fees.

 

Message 2 of 5
Anonymous
Not applicable

Re: Freezeeeeeng! Credit Reports, or Monitoring Service.


@Cory wrote:

Hello,

 

I'm interested in placing a credit freeze, or some type of lock on all three credit reporting agency without having to pay a fee. I am planning on opting out of pre-screen offers of credit, and going far under the radar from now on. I have more credit than I need, and more CU accounts then I need.

 

So what is the best way to go about this?

  1. If I place a freeze on the 3 CB's, how long will the freeze last?

I'm looking to keep something going for years to come. Can someone chime in on this post? Or would suggest something for me?

 

Thanks for your help,

Cory


A freeze will last until you decide to lift it.

 

Mike101 is absolutely correct inthat you should contact each CRA to determine what fees may apply.

 

Something you may want to consider is that if you have CRA monitoring through Equifax and / or TransUnion you can use the credit monitoring service to manage your freezes without additional charge. 

Message 3 of 5
RobertEG
Legendary Contributor

Re: Freezeeeeeng! Credit Reports, or Monitoring Service.

Opt-out and a freeze are very different.

 

When you "opt-out," you are simply telling the CRA, by notice under FCRA 604(e), that you dont want them to provide access to your credit report when any promotional pull request for your name and address is made by any creditor.  That blocks any future promotional offers from a creditor who may have requested your current CR address.  That "opt out" notice to the CRA remains until specifically rescinded by you.  It does not "freeze" your CR for other authorized pulls.

 

A "freeze" on access to your CR is a different, and much more drastic, matter.

A credit freeze is a way to block your credit reports,usually  to make it a lot tougher for an identity thief to get a loan or open a credit account in your name. While a freeze is in place, no one, not even you, can open an account in your name. Lenders, insurers and even employers doing background checks are not able to access your credit file.  You can have the freeze lifted if you need to get new credit, or permit other access, but you have to give the bureaus an specific authorization for any inquiry while the account is frozen.

 

 

Message 4 of 5
Cory
Established Contributor

Re: Freezeeeeeng! Credit Reports, or Monitoring Service.

Thank you guys for replying.

 

I do want to opt-out of pre-screen offers of credit, and freeze all of my credit reports. I understand that this will make it hard for a criminal and me to access my file and I'm okay with that.

 

The only time I want to apply for more credit is when I have a big ticket item, and that only comes every 6 years for me or longer. The point is, I am not expecting to apply for any credit for awhile, I'll go under the radar.

 

I'm just not into paying a fee to the credit bureau for this. I heard a freeze can only last for 30 to 90 days? Or until you request it be removed?

 

Cory

Message 5 of 5
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