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Credit Freeze vs Credit Lock
Old 05-02-2019, 10:46 AM   #1
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Credit Freeze vs Credit Lock

I have had free accounts at Experian and Credit Karma for about a year. Now that all expenses with moving and selling old home are paid, and house is mortgage free and I have a HELOC that has been paid down to a zero balance, I am wondering about freezing or locking both my and my wife's credit. When I went to Experian site, I saw that 1) we had to request individually for each of the three bureaus (a total of six actions) and 2) we had a choice of freeze vs lock. As we have sufficient credit card lines and large HELOC line; I don't think we will ever "need" to request credit again (only times possibly to take advantage of bonus for new credit card). So, which is better, lock or freeze?

thanks,

Marc
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Old 05-02-2019, 10:53 AM   #2
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Freeze. This keeps the bad guys out, doesn't simply try to alert you.



It only takes a few minutes each to unfreeze if you need to, and it's free. Check here: Have You Freezed/Unfreezed Your Credit Yet?


Just be very diligent when freezing...save all the user names, passwords and PINs. Make a file folder for it and you can be in total command.
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Old 05-02-2019, 11:13 AM   #3
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Agree with freezing. That's what we do. I had to unfreeze ours to set up a new savings account. If you need it, you can just also temporarily unfreeze it for a set amount of time. I'm glad it is though. I just got a letter in the mail that my medical records (and SS#) may have been disclosed earlier this year. (!)
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Old 05-02-2019, 11:20 AM   #4
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Originally Posted by sengsational View Post
Freeze. This keeps the bad guys out, doesn't simply try to alert you.



It only takes a few minutes each to unfreeze if you need to, and it's free. Check here: Have You Freezed/Unfreezed Your Credit Yet?


Just be very diligent when freezing...save all the user names, passwords and PINs. Make a file folder for it and you can be in total command.
+1 And be sure to keep those PINs available to retrieve if you need to unfreeze. I've had to unfreeze twice in the last couple of years to take advantage of very good credit offers. It was very easy to unfreeze, and then re-freeze.
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Old 05-02-2019, 11:26 AM   #5
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Freeze it. And you'll find a lot more than 3 places to freeze.... and in 3-4 dozen (there are a couple of old threads with a link to a pdf listing them).
At a minimum include Innovis and NCTUE
https://krebsonsecurity.com/2018/05/...get-nctue-com/
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Old 05-02-2019, 11:36 AM   #6
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Do the freeze, it's FREE.

I did and am happy

I just applied for a new credit card, and just unfroze for 2 days (set a timer) on the website, and was approved in 10 minutes.

I have 8 credit cards , and freezing does nothing bad to any credit ability.
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Old 05-02-2019, 11:38 AM   #7
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It only takes a few minutes each to unfreeze if you need to, and it's free. Check here: Have You Freezed/Unfreezed Your Credit Yet?

Just be very diligent when freezing...save all the user names, passwords and PINs. Make a file folder for it and you can be in total command.
Since we froze our credit (7 years ago), whenever we needed to thaw it for a while, the creditor told us which Bureau they use, and we have thawed for 1 day. Without exception it has been Experian. We have never had to thaw another.

IMO I think creditors are moving from Equifax and Transunion. Equifax Maybe because of their poor security reputation.
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Old 05-02-2019, 01:22 PM   #8
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Thanks all! Looks like wife and I have task to keep us busy this weekend.

Again, thanks,

Marc
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Old 05-02-2019, 01:34 PM   #9
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+1 And be sure to keep those PINs available to retrieve if you need to unfreeze. I've had to unfreeze twice in the last couple of years to take advantage of very good credit offers. It was very easy to unfreeze, and then re-freeze.
Freeze. I lost my pins - or hid them so well, I forgot where they are. If I'm lucky, I will never need credit again.
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