TransUnion

[Saleen099]

Upcoming changes to be aware of:

• Equifax Credit Lock will be deactivated in all Transunion accounts by 1/31/2025. More detailed information will be sent to the email we have on file.
• Buy Now, Pay Later installment loans may now appear on your credit report. You can learn more here.

To reflect these changes, our Terms of Service will be effective on 11/19/2024.

[Tiggr]

I wonder if opening one just for giggles to have a completed account will actually be beneficial (bnpl). I never thought these types of purchases should affect credit score anyways, seems like the whole reason they exist is to be outside of the credit system.

[Saleen099]

Thank you for being a valued TransUnion account holder.  This notification is to inform you of some upcoming changes to your TransUnion account.  Your account will move to an improved experience in first half of 2025.

A few things to keep in mind:

You do not need to take any action at this time to access your improved account experience.  Once your improved experience is live, you will get a notification and links to login and access your account.  You will also be notified in advance of your account upgrade with more details about your account features, FAQs and actions you can take.

The improved experience will include additional features like a better user experience, daily reports and scores, personalized credit offers plus much more.  However, some existing features that your current membership may have had access to will be discontinued.

In particular, credit lock features will be discontinued.  To summarize the deactivation:

• Equifax Credit Lock: This feature will be deactivated in all TransUnion accounts by January 31, 2025.  If you have an active lock on your Equifax credit file at the time of deactivation, it will remain locked for your protection until you replace it with a credit freeze on Equifax’s website.  You can also give their customer support team a call at (888) 378-4329.

• TransUnion Credit Lock:  This feature will be deactivated when your improved account experience is live, in the first half of 2025.  You will receive notifications with a firm date at least 30 days in advance of deactivation.  The updated experience will allow direct access to replace your Credit Lock with a Credit Freeze.  To learn more about a Credit Freeze click here.

[Pppoolboy]

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@Tiggr wrote:

I wonder if opening one just for giggles to have a completed account will actually be beneficial (bnpl). I never thought these types of purchases should affect credit score anyways, seems like the whole reason they exist is to be outside of the credit system.

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BNPL accounts, AKA consumer finance accounts (CFAs) will harm your credit score. Google "will CFAs hurt my credit score" and enjoy a good hour or so of reading.

CFAs have traditionally been used by poor people and those who take them out pose a higher credit risk.