google-site-verification: google30a059f9a075f398.html

Credit Freeze on Equifax: Answers to Common Questions

Credit freeze common problem

Equifax is one of the four major credit bureaus in the United States, and every consumer has a responsibility to freeze credit reports at the bureaus. This security freeze is a tool to prevent economic loss, such as identity thefts trying to open a credit card with your social security number.

Here are two main ways to protect your information:

  1. Register for free fraud alerts or credit monitoring
  2. Securely freeze your credit account

Below you will find more information about the latter in the form of question and answer. Here’s how to freeze your Equifax credit file, the barriers and costs you expect, and how it affects your credit score.

How to freeze Equifax credit or security?

Credit freeze, also known as a security freeze, is designed to block any unauthorized access to any information in Equifax credit files. This will prevent any fraudulent application for a new loan or credit card, for example, on your behalf.

Security Blocking is different from requesting fraud alerts or monitoring your credit. Since your credit information can not be used by other individuals or potential lenders, in addition to your authorized staff, if your sensitive personal information is compromised, security freeze is a smart tool that can block any attempt to access your personal credit report. At any time, you can temporarily lift or unfreeze security measures and protect your safe harbor against identity theft at a small fee.

If you’re concerned about identity theft, those who report massive data breaches, or who get your credit report without your permission, consider freezing your credit line in your report.

What is a credit freeze?
Will a credit freeze affect my credit score?
Does the credit freeze stop pre-setting credit provision?
Can anyone see my credit report if it is frozen?
How to freeze my credit report?
How can I lift the freeze?
What is the difference between a credit freeze and a fraud alert?
What is a credit freeze?

A credit freeze, known as a security freeze, allows you to restrict access to credit bureau credit reports, which in turn makes it more difficult for identity thieves to open new accounts on your behalf.

Its impact is:

It’s a preventative tool that makes identity thieves more difficult to open new accounts on your behalf – your goal

However, most creditors need to check your credit report before approving the new account. If they can not see your documents, they may not extend the credit that may affect your credit verification during the application process.

Can a credit freeze affect my credit score?

Can not. A credit freeze will not affect your credit score.

Credit freeze is not:

Prevent you from getting a free annual credit report
Keep you from opening new accounts, applying for jobs, renting houses or buying insurance. But if you are doing these things, you need to temporarily freeze, either at a specific time or for a specific party, such as a potential landlord or employer. Unfreeze costs and delivery times vary, so it’s best to check with a credit reporting company in advance.
Prevent thieves from changing your existing account. You still need to monitor all your bank, credit card, and insurance reports to find fraudulent deals.

Does the credit freeze stop pre-setting credit provision?

Can not. If you want to stop getting pre-screened credit, call 888-5OPTOUT (888-567-8688) or get online. Phone numbers and websites operated by the National Credit Reporting Company. You can choose five years or permanent. However, the information sent by some companies is not based on pre-screening, and your federal exit does not prevent such requests.

If you think about exiting, you should know that pre-arranged offers can offer many offers, especially if you’re in a credit card or insurance market. Prescreened offers help you understand the services available, compare costs, and find the best products for your needs. Since you have pre-selected to accept the offer, it can only be rejected in limited circumstances. Pre-screened terms may also be more favorable than publicly available terms. In fact, some credit cards or insurance products can only be provided through pre-screening services.

Can anyone see my credit report if it is frozen?

Some entities still have access to it.

Your report can be posted to your existing creditors or debt collectors acting on their behalf.
Government agencies may accept court or administrative orders, subpoenas, or search warrants.
How to freeze my credit report?

Contact credit reporting companies or bureaus throughout the country:
Equifax – 1-800-349-9960
Experian – 1-888-397-3742
TransUnion – 1-888-909-8872
Innovis -1-800-540-2505
You need to provide your name, address, date of birth, social security number, and other personal information. The cost may vary depending on where you live from $ 5 to $ 10.

Upon receipt of a request for a freeze, each credit reporting company will send you a confirmation letter with a unique password (personal identification number) or password. Save your password or password in a safe place. If you choose to unfreeze, you will need it.

How can I lift the freeze?

In some states, the credit freeze expires in seven years. In the vast majority of states, the freeze still exists until you request that the credit reporting company be temporarily removed or completely removed. The credit reporting company must be released within three business days of receiving your request. The cost of lifting the freeze varies from country to country.

If you choose a temporary lift because you’re applying for credit or work, and you can find out which credit reporting company will contact you for your documents, you can save some money by just freezing the company’s freeze.

What is the difference between a credit freeze and a fraud alert?

Credit freeze locks your credit. Fraud alerts allow creditors to obtain copies of your credit report as long as they take steps to verify your identity. For example, if you provide a phone number, your business must call you to confirm that you are the person who provided the credit application. Fraudulent alerts may effectively prevent someone from opening a new credit account on your behalf, but these warnings may not prevent the abuse of your existing account. You still need to monitor all your bank, credit card, and insurance reports to find fraudulent deals.

There are three types of fraud alerts available:

  1. Initial fraud alert. If you are concerned about identity theft but have not yet become a victim, this fraud alert will protect your credit against unverified visits for at least 90 days. If your wallet, social security card, or other personal, financial or account information is lost or stolen, you may need to place a fraud alert on your file.
  2. Extended fraud alert. For victims of identity theft, an extended fraud alert will protect your credit for seven years.
  3. Active Monitoring. This type of fraud alert lasted one year for servicemen who wanted to protect their credit during deployment.

To add a fraud alert to your credit report, contact your credit reporting company nationwide. Fraud alerts are free. The company you called must tell other credit reporting companies; they, in turn, will raise an alarm on their report version.