topic Re: Update on Freezing Accounts in Credit Cards

Update on Freezing Accounts

Red1Blue — Thu, 06 Mar 2008 19:28:01 GMT

I just talked to CreditSecure about Freezing the CR's.

I think it is more complex than what it is worth it.

Once we freeze the CR's then we can not access the reports from CreditSecure or TrueCredit.

Each time, we have to purchase the reports directly from CRA's and that can cost lot of money.

There is no other way to check the reports periodically once the CR's are Frozen.

I have to think through more about this process.

Did any use this feature of Freezing the CR's?

Re: Update on Freezing Accounts

Anonymous — Thu, 06 Mar 2008 19:33:01 GMT

concord, with all due respects to you, it sounds like you are trying to cure a cold with a band-aid.

You need to change your mindset, to a "I got some great cards, now I must discipline myself to refrain from applying for anything else."

It comes down to want vs. need. Do you actually need anymore cc's, or other type of credit instrument? Or just want it.

I say that as kindly as I can. I too have the cravings, but when I do, I turn to constructive activities, like reading Credit in the News, as a diversion. I thirst for knowledge in the realm of consumer credit, because I will not fall into the same trap I did for so many years and remain ignorant of how this stuff works.

Re: Update on Freezing Accounts

Anonymous — Thu, 06 Mar 2008 19:46:21 GMT

I have a freeze on my 3 credit reports. The only reason to do it is for a (supposedly) higher level of security -- no one (except current creditors, etc.) can get your report without the PIN.

Otherwise you have to do a temporary thaw or lifting of the freeze. It is inconvenient; if I want to get my reports from Score Watch or Suze, I have to call and then wait. Sometimes it is unfrozen immediately, other times it takes 3 days. I'm not sure if you can get your report from annualcreditreport.com without a thaw.

The laws differ from state to state on your rights and the costs. In my state, you pay $10/report to freeze, nothing if you're an ID theft victim, and nothing to temporarily or permanently lift. Other states will charge you for thaws. The CRAs can be ignorant; I had to talk to 5 people at EX before they did the thaw for free (as they are required to do under the laws of my state).

So it seems to be effective as a block against anyone opening credit in my name. It's just a pain every time I want to get a report.

Re: Update on Freezing Accounts

Red1Blue — Thu, 06 Mar 2008 20:48:37 GMT

What I am trying to do is freeze the CR's so no one else would access them. But at the same time, I need to dispute the information on the CR's so I can get rid off some of the old negative stuff. That means, I need to have access to the CR's so I can check and verify the accuracy. Looks like it is a catch 22. I have to figure out the priorities and then take the next steps.

Re: Update on Freezing Accounts

MsKmm00 — Thu, 06 Mar 2008 21:18:04 GMT

I think I may be confused. Other than companies you apply with, the only other way anyone would have access to your report would be for solicitation ... is that correct? Therefore, why wouldn't you just call the opt out number and that would cure the problem.?

Re: Update on Freezing Accounts

Anonymous — Thu, 06 Mar 2008 21:19:48 GMT

MsKmm00 wrote:
I think I may be confused. Other than companies you apply with, the only other way anyone would have access to your report would be for solicitation ... is that correct? Therefore, why wouldn't you just call the opt out number and that would cure the problem.?

It's a protection against fraud. In theory, you are right. Nobody should be pulling someone's reports except the parties you mentioned. In practice, though, people who commit identity theft cause reports to be pulled all the time when they shouldn't be.

Re: Update on Freezing Accounts

Anonymous — Thu, 06 Mar 2008 21:47:13 GMT

concorduser wrote:

What I am trying to do is freeze the CR's so no one else would access them. But at the same time, I need to dispute the information on the CR's so I can get rid off some of the old negative stuff. That means, I need to have access to the CR's so I can check and verify the accuracy. Looks like it is a catch 22. I have to figure out the priorities and then take the next steps.

I would get the reports cleaned up, and then put the freeze on if you still want to.