topic Re: locking your credit in General Credit Topics

locking your credit

Anonymous — Thu, 14 Feb 2019 03:12:00 GMT

Will locking my credit report also prevent soft pulls on my credit report? I am so over random soft pulls from random people looking to see what I am up to. I finally decided to pay attention to soft pulls on my report and see tons from companies I dont recognize or companies I dont get services through.

Thanks for your help.

Re: locking your credit

Anonymous — Thu, 14 Feb 2019 05:49:47 GMT

From Experian:

When locked, your Experian Credit File is accessible to:

You
Potential employers or insurance companies during the application process
Companies that have an existing credit relationship with you
Collection agencies acting on behalf of companies you may owe
Personalized offers from Experian, such as credit card offers, if you choose to receive them
Companies providing pre-screened credit card offers

Re: locking your credit

AverageJoesCredit — Thu, 14 Feb 2019 12:08:09 GMT

Just freeze your reports, its free, and you can always unfreeze when you need to app.

Re: locking your credit

DaveInAZ — Thu, 14 Feb 2019 22:56:03 GMT

If you want to prevent random soft pulls from companies you don't recognize or companies you don't get services through you need to do a pre-screen opt out: https://www.optoutprescreen.com

The credit bureaus happily sell your info to companies wanting to sell you something and/or see if you qualify for credit offerings, opt out prevents them form doing that. But if you do opt out you can't get any offers from credit card pre-qual sites as they can't access your credit report.

I did an opt out for over a year, I was carrying some sizable credit card balances, all 0% balance transfers or 0% intro, and was getting a ton of personal loan offers in the mail. I had not interest in getting a 15% or more loan to pay off 0% balances ahead of time and for which I had the funds in savings accounts to payoff before the 0% ended. Besides being annoying most of them had pre-qual codes on them so I had to shred them instead of just tossing in the trash with other junk mail. I decided to opt back in a month or so ago and haven't gotten any loan offers year, so maybe they figured out I wasn't interested.

I dont' know if freezing your credit reports does the same thing as opt-out, I know locking doesn't as I had all my reports locked when I was getting the loan offers.

Re: locking your credit

Anonymous — Fri, 15 Feb 2019 01:45:02 GMT

So locking your credit report basically just blocks hard pulls? Thats not too bad i guess. I really dont want to do a freeze since I dont want to go through the hassle when we are applying for a mortgage. I did a freeze on two reports a couple years ago and it was hell getting it removed.

Re: locking your credit

mitchblue — Sat, 16 Feb 2019 11:15:28 GMT

@AverageJoesCredit wrote:
Just freeze your reports, its free, and you can always unfreeze when you need to app.

Its not free everywhere. Most are 3-10 bucks. Thought I think after the Equifax breach they offer it free now. The other two I still think cost.

Re: locking your credit

mitchblue — Sat, 16 Feb 2019 11:19:10 GMT

@Anonymous wrote:
So locking your credit report basically just blocks hard pulls? Thats not too bad i guess. I really dont want to do a freeze since I dont want to go through the hassle when we are applying for a mortgage. I did a freeze on two reports a couple years ago and it was hell getting it removed.

It prevents people from messing with your credit. If one's info was stolen. So more than just blocking a hard pull. It takes maybe 2 minutes or less to freeze or unfreeze (temp freeze).

Re: locking your credit

Anonymous — Sun, 17 Feb 2019 03:06:25 GMT

@mitchblue wrote:
@AverageJoesCredit wrote:
Just freeze your reports, its free, and you can always unfreeze when you need to app.
Its not free everywhere. Most are 3-10 bucks. Thought I think after the Equifax breach they offer it free now. The other two I still think cost.

Freezing and lifting freezes IS now free on all CRBs, since a new Federal law went into effect Sep 21, 2018

Note locking isn't covered, but you probably shouldn't be doing that anyway!

Re: locking your credit

CreditInspired — Sun, 17 Feb 2019 10:18:13 GMT

@buildingafuture
Now, a freeze is as easy as 1-2-3. I have a freeze on all 3 CRAs, which gives you a pin. And you have 3 options once the freeze is in place and you want it unfrozen to apply for a credit card or loan:

1. Unfreeze for a specific date
2. Unfreeze for a specific date range
3. Unfreeze for a specific lender

That’s it! Yep, easy as pie.

Re: locking your credit

mitchblue — Tue, 19 Feb 2019 18:14:31 GMT

@Anonymous wrote:
@mitchblue wrote:
@AverageJoesCredit wrote:
Just freeze your reports, its free, and you can always unfreeze when you need to app.
Its not free everywhere. Most are 3-10 bucks. Thought I think after the Equifax breach they offer it free now. The other two I still think cost.
@mitchblue wrote:
@AverageJoesCredit wrote:
Just freeze your reports, its free, and you can always unfreeze when you need to app.
Its not free everywhere. Most are 3-10 bucks. Thought I think after the Equifax breach they offer it free now. The other two I still think cost.
Freezing and lifting freezes IS now free on all CRBs, since a new Federal law went into effect Sep 21, 2018

Note locking isn't covered, but you probably shouldn't be doing that anyway!

Thank you did not know that.