![]() Schaub said the credit bureaus don't have much incentive to carefully explain things like credit freezes or fraud alerts. This is a free freeze.īut all that jargon - freezes, locks, alerts - can truly confuse consumers who are already overwhelmed in their financial lives. We're not talking about buying some service or signing up for some credit lock product that might have certain strings and conditions, as well as a fee. Many times, people only fully understand a credit freeze once they're actual victims of ID theft and told that a credit freeze is essential. "It's just assumed that people know what a credit freeze is," said Florian Schaub, U-M assistant professor of information, whose research focuses on security and privacy issues.īut Schaub, 35, said too often "credit freeze" is just swept into the jargon in the industry - jargon that many consumers simply do not understand. If the consumer wants to lift the freeze - for example, to finance a new phone or fridge - that has to happen within an hour. Under the new law, if a consumer asks for a freeze online or by phone, the credit reporting agency has to put the freeze in place no later than the next business day, according to a Federal Trade Commission blog. The consumer who signs up for a voluntary credit freeze is given a PIN - a PIN that you want to keep track of - to use when you want to unfreeze that credit file in order to apply for new credit. Instead, a credit freeze stops many, but not all, businesses and others from reviewing your credit file. And if you’re considering a child credit freeze, you also may want to read Child Identity Theft.Perhaps others remember tips that once suggested putting your credit card in the freezer in a baggie to control spending. If you think someone stole your identity, visit the FTC’s website,, to get a personalized recovery plan that walks you through the steps to take.įor more information, check out Place a Fraud Alert, Extended Fraud Alerts and Credit Freezes, and Credit Freeze FAQs. If you think a credit reporting agency is not placing a credit freeze or fraud alert properly, you can submit a complaint online or by calling 85. Credit Bureau ContactsĬontact the national credit bureaus to request fraud alerts, credit freezes (also known as security freezes), and opt outs from pre‑screened credit offers. ![]() You also can find links to their websites at /CreditBureauContacts. The one that you contact must notify the other two, unlike the credit freeze where you must contact all three credit reporting agencies. You can place a fraud alert or active duty alert by visiting any one of the three nationwide credit reporting agencies – Equifax, Experian or TransUnion. The active duty alert also gives you an added benefit: the credit reporting agencies will take your name off their marketing lists for prescreened credit card offers for two years (unless you ask them to add you back on). You’ll still have access to active duty alerts, which let you place a fraud alert for one year, renewable for the time you’re deployed. If you’re in the military, you have an additional option. Fraud alerts will still be free and identity theft victims can still get an extended fraud alert for seven years. Starting September 21, 2018, when you place a fraud alert, it will last one year, instead of 90 days. ![]() Year-long fraud alertsĪ fraud alert tells businesses that check your credit that they should check with you before opening a new account. If you want a free freeze guaranteed by federal law, then opt for a freeze, not a lock. They work in a similar way, but locks may have monthly fees. You also can lift the freeze temporarily without a fee.ĭon’t confuse freezes with locks. If you make your request by mail, the agency must place or lift the freeze within three business days after it gets your request. If you request a lift of the freeze, the agency must lift it within one hour. If you request a freeze online or by phone, the agency must place the freeze within one business day. How will these freezes work? Contact all three of the nationwide credit reporting agencies – Equifax, Experian, and TransUnion. ![]() And if you are someone’s guardian or conservator or have a valid power of attorney, you can get a free freeze for that person, too. You also can get a free freeze for your children who are under 16. Starting September 21, 2018, you can freeze and unfreeze your credit file for free. Security freezes, also known as credit freezes, restrict access to your credit file, making it harder for identity thieves to open new accounts in your name. Here’s what you should know: Free credit freezes Free credit freezes and year-long fraud alerts are here, starting September 21 st, thanks to a new federal law.
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