Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Credit account freeze question
Old 06-01-2016, 02:29 PM   #1
Recycles dryer sheets
 
Join Date: Aug 2009
Posts: 141
Credit account freeze question

Hello folks,

About 2 months ago, there were few huge transactions on our credit card within a matter of 30 minutes. Glad we had set up transaction alert, we caught them within an hour or so. We worked out with the credit card company and sorted out everything within a month.

That day we were so panicked, that we registered a complaint with the police and during conversation, the officer suggested credit freeze. I knew about credit freeze but never occurred it to me.

So we froze the accounts that very same day. Next day, family emergency showed up and we had to rush across half of the globe. Now the thing is, I remember Experian gave us a code that we will need to thaw the account. I have a screenshot of it. TransUnion sent us an email about the transaction but no code was offered in the email. I don't remember if the code was given online (when we performed that transaction). I don't remember anything about Equifax.

My questions are
- Is it advisable to call Equifax to see if we had performed a credit freeze online?
- Is it advisable to call TransUnion to ask about thawing process, and reissue the codes, since we don't have them?
- If its not advisable to call, how do I proceed with this?

Many thanks in advance.
__________________

__________________
noelm is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 06-01-2016, 04:07 PM   #2
Dryer sheet aficionado
 
Join Date: Jun 2013
Posts: 42
I'd go ahead and call and jump through the hoops to get you back set up online. You're probably not the first one to have to do this. Once you've done it and can get back online, you can "thaw" your credit for a short period of time, when needed and then it will automatically freeze again.

Just not a big deal!
__________________

__________________
canuck5 is offline   Reply With Quote
Old 06-01-2016, 04:08 PM   #3
Dryer sheet aficionado
 
Join Date: Jun 2013
Posts: 42
They do charge you for the freezing/thawing ..... $6 or something like that
__________________
canuck5 is offline   Reply With Quote
Old 06-01-2016, 04:32 PM   #4
Moderator Emeritus
aja8888's Avatar
 
Join Date: Apr 2011
Location: The Woodlands, TX
Posts: 7,166
Quote:
Originally Posted by canuck5 View Post
They do charge you for the freezing/thawing ..... $6 or something like that
Depends on your state and the credit agency. I unfroze my Experian account temporarily and was charged $12 if I recall.
__________________
......."Everybody has a plan until they get punched in the face." -- philosopher Mike Tyson.
aja8888 is offline   Reply With Quote
Old 06-01-2016, 04:38 PM   #5
Recycles dryer sheets
SteveNU's Avatar
 
Join Date: Feb 2010
Posts: 313
I have unfrozen my accounts twice recently after applying for new credit cards. Both times the credit card company told me which agency to unfreeze and I was able to get a one time use PIN for free. Then you just call and give the credit card company the PIN and they were able to access my report and approve the applications.

Sent from my Nexus 7 using Early Retirement Forum mobile app
__________________
SteveNU is offline   Reply With Quote
Old 06-01-2016, 05:10 PM   #6
Full time employment: Posting here.
Aerides's Avatar
 
Join Date: Nov 2015
Posts: 695
While I can see the benefit of freezing bank/debit and actual asset accounts, credit cards - presuming they are with a reputable issuer - I would not bother to lock.

That it even took you a month to get resolved is surprisingly long. A good issuer will credit you back the Fraud almost instantly, then go about getting whole themselves (with no bother to you) with whichever merchant processed the charges. Not to mention getting you a new number, new cards, overnighted to you as soon as you call.
__________________
Aerides is offline   Reply With Quote
Old 06-02-2016, 06:41 AM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
donheff's Avatar
 
Join Date: Feb 2006
Location: Washington, DC
Posts: 8,645
Why would you unfreeze your accounts for a trip? Your credit cards still work, the freeze simply blocks new lines of credit (which is a big deal). You can use your cards to pay for the trip. The problem that led to your freeze can still occur with the freeze on but since the credit card companies assume the risk that is not a big problem. The problem the freeze deals with is identity thieves opening new credit lines (cards, cars, houses, whatever) in your name.
__________________
Every man is, or hopes to be, an Idler. -- Samuel Johnson
donheff is online now   Reply With Quote
Old 06-02-2016, 08:35 AM   #8
Recycles dryer sheets
 
Join Date: Aug 2011
Location: Atlanta
Posts: 420
Quote:
Originally Posted by donheff View Post
Why would you unfreeze your accounts for a trip? Your credit cards still work, the freeze simply blocks new lines of credit (which is a big deal). You can use your cards to pay for the trip. The problem that led to your freeze can still occur with the freeze on but since the credit card companies assume the risk that is not a big problem. The problem the freeze deals with is identity thieves opening new credit lines (cards, cars, houses, whatever) in your name.
that is my understanding.
WE pay $3 for each agency to un freeze and we tell them for how long.
if we lose the pin (all 3 have them) we have to write them to get a new one.
__________________
SJ1_ is offline   Reply With Quote
Old 06-02-2016, 08:39 AM   #9
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2004
Posts: 11,615
Quote:
Originally Posted by donheff View Post
Why would you unfreeze your accounts for a trip?
+1. When traveling you'll probably be exposing your identity info/account info to more than the usual risk of theft, and it's possible you'll be busy/not tightly in comms with those who might be offering transaction alerts, so less able to spot/do anything about it. I'd leave the freeze in place, it's good, solid, cheap protection against the worst impacts of identity theft.
__________________
"Freedom begins when you tell Mrs. Grundy to go fly a kite." - R. Heinlein
samclem is online now   Reply With Quote
Old 06-04-2016, 09:47 AM   #10
Recycles dryer sheets
 
Join Date: Sep 2011
Location: MSP
Posts: 270
Quote:
Originally Posted by SteveNU View Post
I have unfrozen my accounts twice recently after applying for new credit cards. Both times the credit card company told me which agency to unfreeze and I was able to get a one time use PIN for free. Then you just call and give the credit card company the PIN and they were able to access my report and approve the applications.

Sent from my Nexus 7 using Early Retirement Forum mobile app

I appreciate this timely info as DW and I had recently gone through the process of freezing our credit. It was long overdue and we could anticipate no more need for credit for the foreseeable future. Fast forward a year and I find myself toying with refinancing our mortgage from an already low interest 30 yr to an even lower interest 15. Dang, gotta mess with the whole credit thaw/refreeze thing for both DW and I. But this makes it look like no big deal.
__________________
UpAnchor is offline   Reply With Quote
Old 06-04-2016, 10:04 AM   #11
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 16,496
I was planning to jump through some hoops to get a free credit freeze, and then I realized that any thaw and refreeze wouldn't be free, so the initial cost is minor.

I expect we'd probably do a temporary unfreeze at least once a year.
__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is online now   Reply With Quote
Old 06-04-2016, 10:09 AM   #12
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Chuckanut's Avatar
 
Join Date: Aug 2011
Location: West of the Mississippi
Posts: 6,334
IIRC, once you hit 65, thawing and freezing is free in all states in the USA.

Edit: Wrong info above. Some states do not charge those who are 65 and over. But, others do.
__________________
The worst decisions are usually made in times of anger and impatience.
Chuckanut is offline   Reply With Quote
Old 06-04-2016, 10:10 AM   #13
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 16,496
Quote:
Originally Posted by noelm View Post
Hello folks,

About 2 months ago, there were few huge transactions on our credit card within a matter of 30 minutes. Glad we had set up transaction alert, we caught them within an hour or so. We worked out with the credit card company and sorted out everything within a month.

That day we were so panicked, that we registered a complaint with the police and during conversation, the officer suggested credit freeze. I knew about credit freeze but never occurred it to me.

So we froze the accounts that very same day. Next day, family emergency showed up and we had to rush across half of the globe. Now the thing is, I remember Experian gave us a code that we will need to thaw the account. I have a screenshot of it. TransUnion sent us an email about the transaction but no code was offered in the email. I don't remember if the code was given online (when we performed that transaction). I don't remember anything about Equifax.

My questions are
- Is it advisable to call Equifax to see if we had performed a credit freeze online?
- Is it advisable to call TransUnion to ask about thawing process, and reissue the codes, since we don't have them?
- If its not advisable to call, how do I proceed with this?

Many thanks in advance.
I never worried about doing a credit freeze based on credit card fraud. The perps only had a credit card number, they didn't have stuff like social security number and date of birth. Credit cards are super easy to replace with a new number.

A credit freeze is to prevent someone from opening NEW credit accounts/loans/utilities in your name, or gaining access to your tax information from the IRS.
__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is online now   Reply With Quote
Old 06-04-2016, 10:11 AM   #14
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 16,496
Quote:
Originally Posted by Chuckanut View Post
IIRC, once you hit 65, thawing and freezing is free in all states in the USA.
Even if you already have a freeze in place?

I didn't run across this senior benefit when I looked at costs.
__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is online now   Reply With Quote
Old 06-04-2016, 10:14 AM   #15
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 16,496
Quote:
Originally Posted by donheff View Post
Why would you unfreeze your accounts for a trip? Your credit cards still work, the freeze simply blocks new lines of credit (which is a big deal). You can use your cards to pay for the trip. The problem that led to your freeze can still occur with the freeze on but since the credit card companies assume the risk that is not a big problem. The problem the freeze deals with is identity thieves opening new credit lines (cards, cars, houses, whatever) in your name.
I missed where someone was doing a thaw for a trip?
__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is online now   Reply With Quote
Old 06-04-2016, 10:14 AM   #16
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Chuckanut's Avatar
 
Join Date: Aug 2011
Location: West of the Mississippi
Posts: 6,334
Quote:
Originally Posted by audreyh1 View Post
Even if you already have a freeze in place?

I didn't run across this senior benefit when I looked at costs.
I was mistaken. But, some states do not have a charge to freeze the credit records after 65.

Here's one example for Florida:

Quote:
Florida (security freeze rights established by state law)
Eligibility: All consumers.
Fees: No fees for identity theft victims and seniors 65 years and older. All others pay $10 to place the freeze, lift it temporarily, or remove it altogether.
Effective date of law: July 1, 2006
Permanent freeze remains until removal requested by consumer.
Copy of Florida’s security freeze law
Instructions for using Florida’s security freeze law
Consumers Union’s guide to security freeze protection | Consumers Union
__________________
The worst decisions are usually made in times of anger and impatience.
Chuckanut is offline   Reply With Quote
Old 06-04-2016, 10:25 AM   #17
Thinks s/he gets paid by the post
DFW_M5's Avatar
 
Join Date: Sep 2003
Posts: 4,982
If anyone is trying to setup a My Social Security account, you cannot do so online if you have a credit freeze in place with Experian, who is the credit agency the gummit uses to verify your identity.

See this article:http://bucks.blogs.nytimes.com/2013/...-account/?_r=0
__________________
Doing things today that others won't, to do things tomorrow that others can't. Of course I'm referring to workouts, not robbing banks.
DFW_M5 is offline   Reply With Quote
Old 06-04-2016, 10:27 AM   #18
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 16,496
I don't think Texas gives you any breaks at all. You can get the initial freeze for free IF you have certain reports that show you've been a victim of fraud, and the credit bureaus are pretty strick about these even when they are the reason for the breach!

If I'd gotten a letter from the IRS that my account had been compromised - no probem. It's not so clear that Experian being breached and DHs T-mobile account info including DOB and SS# being accessed (one of millions) is sufficient without a subsequent specific fraud occurring in his name.

Experian provided free credit monitoring. But not a free credit freeze, LOL!
__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is online now   Reply With Quote
Old 06-04-2016, 10:32 AM   #19
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 16,496
Quote:
Originally Posted by DFW_M5 View Post
If anyone is trying to setup a My Social Security account, you cannot do so online if you have a credit freeze in place with Experian, who is the credit agency the gummit uses to verify your identity.

See this article:http://bucks.blogs.nytimes.com/2013/...-account/?_r=0
Yes, that's right. And I think having a credit freeze in place is important to protect yourself from both social security and IRS tax fraud.

Set up your social security account first, though.

We can no longer access our IRS accounts to see transcripts - they took that down. But people calling in can still get personal info, and having a freeze means they can't do identity verification unless you temporarily thaw. That's a good thing, because fraudsters call in to try to get your info.
__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is online now   Reply With Quote
Old 06-15-2016, 09:09 AM   #20
Recycles dryer sheets
 
Join Date: Sep 2011
Location: MSP
Posts: 270
Went through the process last night to place temporary lifts (thaws) on all bureaus for both DW and I - so 6 total. Took about an hour I'm guessing, maybe a bit less. But I had snapshots of the original PINs saved on my computer so that probably sped things up. (Generally there was a place to check if you did or did not remember your PIN.) I guess I wouldn't characterize the process as 'fun' and it would have been a little easier if the various bureaus were more consistent in their freeze/thaw processes, but I feel an hour's work and $30 outlay (6 x $5 in MN) is a reasonable price to pay for having reduced risk of fraud the rest of the time. This was my first experience in lifting a freeze so it should go even quicker next time - should there be one.
__________________

__________________
UpAnchor is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Freeze credit report? wanaberetiree Other topics 27 03-04-2016 09:33 AM
When/if to freeze credit? Fermion FIRE and Money 12 09-13-2014 01:38 PM
Why Doesn't Everyone Freeze Their Credit? golftrek Other topics 34 01-28-2014 08:01 PM
Credit Freeze Experiences Chuckanut Other topics 20 08-11-2012 11:34 AM
The Real Cause of the Credit Freeze? audreyh1 FIRE and Money 20 10-10-2008 07:44 PM

 

 
All times are GMT -6. The time now is 11:15 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.