The email makes it seem like it’s Transunion only and you can already do that yourself with the myTransUnion app only the myTransUnion app is an actual security freeze.
People should not be relying on locks, however, whether directly from the CRA or from a third party. Locks are not legally the same as freezes and if a lock can’t be removed, you’re going to be forced into arbitration as your maximum legal recourse. There have already been examples of Equifax reports getting locked to the point Equifax can’t even get them and if the online system is down that you used to lock your report, your report is stuck whereas a freeze can be removed over the phone with your PIN.
I would do the method that is mandated and regulated and that is the security freeze and before anyone says that the chances of a site being down are slim, I had to go through this with Transunion already when trying to remove my security freeze earlier this month when I ordered myFICO. Their login website was down and I ended up having to call them and use my PIN to get my freeze off.
Saeren you wrote well some concerns and an actual life situation. Thanks for the insight!
I was extremely annoyed with the whole ordeal with TransUnion so I now have myTransUnion on my phone. It works when the website doesn’t and it’s the actual security freeze.
Theres nothing like signing up for a credit monitoring product and then getting flagged for fraud, calling and answering their questions just to get a system error and remember that your reports are frozen, have the rep be patient enough to all you a few minutes to unfreeze your reports just to get through two and not be able to unfreeze the other. I had to call TU then call myFICO back and answer a whole new set of security questions.
But as annoying as that was, knowing that I could actually get locked out of my file altogether with a lock? Forget about it. Takes me 5 minutes to fill the form out on Experian, open the myTransUnion app on my phone and tap the button to unfreeze, and log into Equifax to lift that one and that’s worth the peace of mind of knowing that if something goes wrong, I have a PIN I can call the automated system for each bureau with.
@Saeren: thank you for your excellent answer. I intend to download the app and freeze my TU report ASAP. Now, you say there’s a form to fill out with Experian to freeze their report? And how is it set up with Equifax? I am glad to hear about the PIN, because I have heard horror stories about people being permanently locked out of the Equifax reports. This would actually be an excellent guide for someone with the knowledge to create.
Why did signing up for my MF require you to unfreeze your reports? If I may ask ... or do I misunderstand?
You can freeze each report by following the instructions here
https://help.equifax.com/s/article/How-do-I-place-temporarily-lift-or-permanently-remove-a-security-... just create a myEquifax account.
https://www.transunion.com/credit-freeze just follow the instructions for freeze my credit. Then you can get the myTransUnion app to manage it.
https://www.experian.com/ncaconline/freeze just fill out that form.
Both TU and EX will let you pick a PIN, EQ generates a PIN for you so save it somewhere.
When your credit is frozen, nobody can pull your reports unless they have an existing credit relationship with you (and I have found that this doesn’t always work either - for example in order to get my TU score from Sync I had to unlock the first time, same with Disco score card (the free one from Experian, not the one that comes with your card)).Basically the freeze prevents third parties from pulling your credit, even for monitoring, but the need to lift is only the first time. I put my freezes back on after getting myFICO setup and I’ve been getting alerts just fine.
Sounds like the verification issue caused by incorrect info on third party reports. Get a copy of your LexisNexis report and make sure that everything is correct. There’s another one and the name is escaping me but I believe the security questions usually come from LexisNexis IIRC.