Credit Freezes will be available to all consumers by November 1st, whether or not they have been victims of Identity Theft.
from bankrate:
Consumers in all 50 states already have the right to place a fraud alert, regardless of whether they are victims of ID theft. The fraud alert lasts for 90 days and alerts new creditors and other businesses checking the creditworthiness of an applicant that the consumer may be a victim of fraud.
While the fraud alert merely asks the lender to take additional precautions, a credit or security freeze prevents third parties from receiving a copy of the consumer’s credit report or credit score, making businesses less likely to grant credit or services to the applicant. Only businesses with a permissible purpose, or for whom the consumer lifts the freeze may obtain the consumer’s credit information.
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Credit Freezes will be available to all consumers by November 1st, whether or not they have been victims of Identity Theft.
from bankrate:
Consumers in all 50 states already have the right to place a fraud alert, regardless of whether they are victims of ID theft. The fraud alert lasts for 90 days and alerts new creditors and other businesses checking the creditworthiness of an applicant that the consumer may be a victim of fraud.
While the fraud alert merely asks the lender to take additional precautions, a credit or security freeze prevents third parties from receiving a copy of the consumer’s credit report or credit score, making businesses less likely to grant credit or services to the applicant. Only businesses with a permissible purpose, or for whom the consumer lifts the freeze may obtain the consumer’s credit information.
—With TransUnion, you may do so by mail. To remove the freeze permanently, you must do so in writing. The credit freeze remains in effect until you remove it permanently in writing. You will receive a PIN, so that you may lift the freeze temporarily by writing or calling.
—With Experian, you may do so by mail. To remove the freeze permanently, you must do so in writing. The credit freeze remains in effect until you remove it permanently in writing. You will receive a PIN, so that you may lift the freeze temporarily by writing or calling or instantly online.
—With Equifax (their plan has not yet been finalized), you may do so by mail. You may permanently remove or lift the freeze temporarily by calling the toll-free number provided to you.
All credit freezes will remain in effect until you remove it permanently or lift it temporarily, except in Kentucky, Nebraska, Pennsylvania, Rhode Island and South Dakota, where it expires after seven years.
Fees to add or remove a credit freeze will vary, so please check with each.
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