You can monitor your own credit while it’s frozen by getting reports from and by setting up a free credit monitoring account. In many cases, you’ll have to pay to put a freeze on your files if you are not a victim of identity theft, although some states exempt people over a certain age. And a freeze has no effect on your credit score. However, a freeze will not prevent collection agencies or creditors you already have from seeing your credit information.Ī credit freeze does not affect your ability to use the credit accounts you already have. That means if scammers try to misuse your personal data to open a fraudulent credit account, they are unlikely to be approved. No one else will be able to check your credit until and unless you lift the freeze. Here’s how to do an Equifax credit freeze:Ī credit freeze makes your credit report off-limits to anyone who does not already have access to it. You’ll have to freeze your credit with each of the three major credit bureaus: Equifax, Experian and TransUnion. NerdWallet recommends a freeze unless you intend to use your credit in the near future, such as opening a new credit account or applying for a lease or job. In that case, a fraud alert might be more appropriate. Credit monitoring, another service the credit bureaus offer, can tell you when someone uses your data to apply for credit, but it won’t typically prevent it. If you’re looking to keep your credit data from being accessed, the best way to protect it is a credit freeze, also known as a security freeze. The offer had been set to expire on Wednesday. Equifax made freezes free late last year in the wake of a data breach that compromised personal data on about 145 million U.S. The cost to lift a freeze varies by state.Equifax has extended its offer of free credit freezes through June 30. A credit reporting company must lift a freeze no later than three business days after getting your request. In the vast majority of states, a freeze remains in place until you ask the credit reporting company to temporarily lift it or remove it altogether. In a few states, credit freezes expire after seven years. To lift a freeze on your credit report(s): You will need it if you choose to lift the freeze. Keep the PIN or password in a safe place. Fees vary based on where you live, but commonly range from $5 to $10.Īfter receiving your freeze request, each credit reporting company will send you a confirmation letter containing a unique PIN (personal identification number) or password. You’ll need to supply your name, address, date of birth, Social Security number and other personal information. To place a freeze on your credit report(s):Ĭontact each of the nationwide credit reporting companies: You still need to monitor all bank, credit card and insurance statements for fraudulent transactions. A freeze also does not prevent a thief from making charges to your existing accounts. The cost and lead times to lift a freeze vary, so it’s best to check with the credit reporting company in advance. But if you’re doing any of these, you’ll need to lift the freeze temporarily, either for a specific time or for a specific party, say, a potential landlord or employer. A credit freeze does not prevent you from getting your free annual credit report, keep you from opening a new account, applying for a job, renting an apartment, or buying insurance. This service is free to consumers.Ĭredit Freeze: A credit freeze restricts access to your credit report, making it more difficult for identity thieves to open new accounts in your name. To place a fraud alert on your report, contact one of the nationwide credit reporting companies (the company you contact must share the alert information with the other companies) and ask for the company to put a fraud alert on your credit file. Even with a fraud alert or freeze, you should still actively monitor your accounts for fraudulent transactions.Ĭredit Report Fraud Alerts: When you have a fraud alert on your report, businesses must first verify your identity before issuing credit. If you’re concerned about someone gaining access to your credit report without your permission, you may consider placing a fraud alert or credit freeze on your report(s). You may also contact Equifax directly at 1.866.447.7559 with any questions. The website also provides additional information on steps consumers can take to protect their personal information. Based on the company’s investigation, the unauthorized access occurred from mid-May through July 2017.Įquifax has established a dedicated website, to help consumers determine if their information has been potentially impacted and to sign up for one year of complimentary credit file monitoring and identity theft protection. Equifax, a major credit reporting agency, recently announced a cybersecurity breach potentially impacting approximately 143 million U.S.
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