Credit Freeze and Unfreeze
Do I have to pay to freeze my credit at the 3 credit agencies?
No, as of September 2018 freezing your credit is federally regulated and free. Don’t confuse freezes with locks or alerts, which are paid services provided by the three credit agencies.
How can I access my credit report if I place a freeze?
You can still access your credit report and history, as can all your current creditors. Only potential new creditors are denied access, thus ensuring no one can open unauthorized new accounts and preventing identity theft.
How quickly is my credit frozen once I place the request online or by telephone?
The agencies are required to freeze the credit within one business day.
How quickly can I unfreeze, or “thaw”, my credit?
All three credit agencies claim the unfreezing is immediate, but all also recommend leaving an hour or so just to be sure everything goes smoothly.
Can I unfreeze my credit for a specified period of time?
Depending on the agency, you may unfreeze your credit for a specified period of time or you may leave it open ended.
Should my spouse and/or children freeze their credit?
Yes, we recommend you have each family member freeze their credit in order to truly combat identity theft.
Do I have to freeze at all three credit agencies?
Yes, in order for the freeze to be truly effective and block unauthorized access to opening new accounts, you must place the freeze at all three agencies.
Does a credit freeze effect my credit score?
No, a credit freeze does not have any adverse effect on your credit score.
Who might need to access my credit file?
A bank or other lender might need access for a mortgage, car loan or credit card. A store might need to access your credit before offering you a store card to obtain a discount. Even long-term service providers (i.e. internet, cell phone) might require access to set up your service.
If you have any questions, please feel free to contact Jennifer Lehman at Jennifer.Lehman@plumstreetadvisors.com.
How to Freeze Your Credit
All three credit agencies, Transunion, Experian and Equifax, allow you to both freeze and unfreeze (sometimes known as thawing) online or by telephone. Each agency requires personal, unique identifying information as well as a PIN and sometimes an account to complete online.
TRANSUNION
How to freeze your credit online: Got to www.transunion.com/credit-freeze and follow the prompts and instructions. We recommend making your email address your user ID and trying to use one password for all three agencies (8-15 characters, at least one upper and lower case letter, number and special character).
Alternatively, you may call Transunion at 1(888) 909-8872.
EXPERIAN
How to freeze your credit online: Go to www.experian.com/freeze and follow the prompts and instructions. We recommend making your email address your user ID and trying to use one password for all three agencies (8-15 characters, at least one upper and lower case letter, number and special character).
Alternatively, you may call Experian at 1(888) 397-3742
EQUIFAX
How to freeze your credit online: Go to www.equifax.com/personal/credit-report-services, choose “Place a Freeze” and follow the prompts and instructions. We recommend making your email address your user ID and trying to use one password for all three agencies (8-15 characters, at least one upper and lower case letter, number and special character).
Alternatively, you may call Equifax at 1(888)298-0045.