topic Re: Credit Freeze question in Credit Cards

Credit Freeze question

sunshine7157 — Thu, 15 Mar 2012 20:25:06 GMT

I have my files frozen at all 3 CB's. When I requested them to be frozen, it was indicated that there are 'exceptions' to the freeze(s) such as the report will not be frozen to credit companies that I currently do business with (AMEX, for example). Does this then mean that when I am ready to apply for another AMEX (or request a cli on a current one) that I will not have to 'unfreeze' my report in order for AMEX to pull my credit? Odd question, I know. Anybody familiar with this?

Re: Credit Freeze question

LS2982 — Thu, 15 Mar 2012 20:48:52 GMT

@sunshine7157 wrote:
I have my files frozen at all 3 CB's. When I requested them to be frozen, it was indicated that there are 'exceptions' to the freeze(s) such as the report will not be frozen to credit companies that I currently do business with (AMEX, for example). Does this then mean that when I am ready to apply for another AMEX (or request a cli on a current one) that I will not have to 'unfreeze' my report in order for AMEX to pull my credit? Odd question, I know. Anybody familiar with this?

No, any time your files are frozen you can not create HP's for new credit without lifting it.

Re: Credit Freeze question

pizzadude — Thu, 15 Mar 2012 21:28:51 GMT

One thing to be aware of regarding freezes is that CAs can still pull your report even if it has been frozen.

Re: Credit Freeze question

bichonmom — Thu, 15 Mar 2012 21:44:14 GMT

@sunshine7157 wrote:
I have my files frozen at all 3 CB's. When I requested them to be frozen, it was indicated that there are 'exceptions' to the freeze(s) such as the report will not be frozen to credit companies that I currently do business with (AMEX, for example). Does this then mean that when I am ready to apply for another AMEX (or request a cli on a current one) that I will not have to 'unfreeze' my report in order for AMEX to pull my credit? Odd question, I know. Anybody familiar with this?

The credit freeze really only prevents potential creditors from doing a HP, because the intention behind it is to prevent fraud, identity theft, etc. Many people here also use it to help prevent apping, since you have to take the extra step and cost of removing the freeze temporarily for the application.

Any current or previous creditors can still SP your reports, including collection agencies. However, I believe they can't do a HP, even if they are a current creditor.

For Amex, if you have an acct. and apply for a new CC, it's a soft pull unless you're approved, and then they re-code it to hard. So, you *should* be able to app for Amex without lifting the freeze. But I believe it depends on *how* you app. You would need to be logged into your acct when you app. If you app online and aren't logged it, I think it doesn't realize you're a current customer or something, and will do a HP regardless of whether or not you're approved. (Of course, then you'd also need to lift your freeze.)

YMMV, but that's the general consensus I've read here.

ETA: I don't quite understand why, but the CRAs told me that a freeze would NOT prevent a CA from putting a HP on my CR. It doesn't really make sense to me, because a CC can't do a HP for an app. I think it has to do with *how* the pull is coded; and the way the law is written, CAs can do HPs even with frozen reports. (At least, there's no guarantee it wouldn't happen.)

Re: Credit Freeze question

LS2982 — Thu, 15 Mar 2012 21:58:32 GMT

@pizzadude wrote:

One thing to be aware of regarding freezes is that CAs can still pull your report even if it has been frozen.

Re: Credit Freeze question

pizzadude — Thu, 15 Mar 2012 22:04:36 GMT

@bichonmom wrote:
@sunshine7157 wrote:
I have my files frozen at all 3 CB's. When I requested them to be frozen, it was indicated that there are 'exceptions' to the freeze(s) such as the report will not be frozen to credit companies that I currently do business with (AMEX, for example). Does this then mean that when I am ready to apply for another AMEX (or request a cli on a current one) that I will not have to 'unfreeze' my report in order for AMEX to pull my credit? Odd question, I know. Anybody familiar with this?
The credit freeze really only prevents potential creditors from doing a HP, because the intention behind it is to prevent fraud, identity theft, etc. Many people here also use it to help prevent apping, since you have to take the extra step and cost of removing the freeze temporarily for the application.

Any current or previous creditors can still SP your reports, including collection agencies. However, I believe they can't do a HP, even if they are a current creditor.

For Amex, if you have an acct. and apply for a new CC, it's a soft pull unless you're approved, and then they re-code it to hard. So, you *should* be able to app for Amex without lifting the freeze. But I believe it depends on *how* you app. You would need to be logged into your acct when you app. If you app online and aren't logged it, I think it doesn't realize you're a current customer or something, and will do a HP regardless of whether or not you're approved. (Of course, then you'd also need to lift your freeze.)

YMMV, but that's the general consensus I've read here.

ETA: I don't quite understand why, but the CRAs told me that a freeze would NOT prevent a CA from putting a HP on my CR. It doesn't really make sense to me, because a CC can't do a HP for an app. I think it has to do with *how* the pull is coded; and the way the law is written, CAs can do HPs even with frozen reports. (At least, there's no guarantee it wouldn't happen.)

This is true unfortunately. CAs can do a Hard Pull on your frozen reports.

Re: Credit Freeze question

Anonymous — Thu, 15 Mar 2012 22:55:23 GMT

I don't even see why CA's would be allowed to do HPs in general, it's not like you're applying for credit with them. If anything, it just seems like a slap in the face.

Re: Credit Freeze question

sunshine7157 — Thu, 15 Mar 2012 23:10:00 GMT

Ok. So the general concensus is YES. Any company with whom I have a current credit account with can still do a HP even if my reports are frozen. I will at some point (maybe in May when inquiries fall off) test this theory. I will log into my current AMEX acct & app for a BCE-if it goes through no-questions-asked, we'll know. I'll let you know.

Re: Credit Freeze question

Anonymous — Thu, 15 Mar 2012 23:20:09 GMT

@sunshine7157 wrote:
Ok. So the general concensus is YES. Any company with whom I have a current credit account with can still do a HP even if my reports are frozen. I will at some point (maybe in May when inquiries fall off) test this theory. I will log into my current AMEX acct & app for a BCE-if it goes through no-questions-asked, we'll know. I'll let you know.

My reports are frozen and I'm an Amex member, I applied for the BCP and got denied (since I'm too new of a member), but they gave me an updated EX FICO score.. but there was no HP. So they softed me and still gave me a new FICO score.

Had they actually approved the application, I have no idea what would happen - maybe they'd require me to unlock something.

Re: Credit Freeze question

sunshine7157 — Thu, 15 Mar 2012 23:24:50 GMT

....which leads me to my next question: Please define 'too new of a member'. Any idea how long you need to have an account with them before they'll allow you another one? I got the Zync & the Delta Gold in January but I'd rather have BCE instead of Zync. I was figuring a 6 month wait.

Re: Credit Freeze question

bichonmom — Fri, 16 Mar 2012 00:48:16 GMT

I don't think they have a wait. Many of us have gotten 2 CCs in one day, since it can usually be done with only one HP (not always, tho!). I'd just be careful because it they see you're getting too much credit, they might FR you.

Re: Credit Freeze question

sunshine7157 — Fri, 16 Mar 2012 00:52:24 GMT

FR me? Yuck! From what I've read here, a FR to AMEX is as an audit is to the IRS. I've done nothing wrong yet I'd still feel like I was being followed by a cop. ;-D

Re: Credit Freeze question

bichonmom — Fri, 16 Mar 2012 00:55:08 GMT

I'm not saying they will. I'm just saying that it could happen if they think you're getting too much credit. No one really knows for sure what prompts a FR. I'm not trying to add to the paranoia. But for that reason, I'd probably wait a while.

Re: Credit Freeze question

sunshine7157 — Fri, 16 Mar 2012 00:57:06 GMT

Thank You! I will do that..