BillNOVA
Dryer sheet aficionado
Has anyone tried either of the above? Monitoring seems expensive. What are people doing to safeguard their credit.
But you don't need to sign up for expensive services offered by credit-reporting bureaus and other companies to keep your identity safe. Most of their products are unnecessary or ineffective, or they duplicate things you can do yourself—free. Our own assessment of some two dozen identity-theft protection products crowding the market found dubious value. Here's how to protect yourself
Has anyone tried either of the above? Monitoring seems expensive. What are people doing to safeguard their credit.
Monitoring is not the best approach, IMHO. Take a look at this : Credit Freeze and Thaw Guide | www.clarkhoward.com
In NC, I can freeze and thaw for free. I'd been wanting a cash back credit card, and thawed for a few weeks to let that application through. We also get free reports, so I have events on the calendar, 4 months apart (for each of the 3 companies). The hardest thing is to make sure you know the passwords. I use lastpass.
--Dale--
We've had a credit freeze at all three credit bureaus for years. Most companies use Experian for a credit check and Experian is easy to temporarily lift for a credit check. It's $10.82 to unlock for a period of time I can choose and it's all done online and in real time. Wouldn't be without a credit freeze.
When I need something, such as taking out a farm and ranch policy with the Farm Bureau, I asked what credit bureau they use so I can temporarily lift the freeze. I logged onto Experian and gave the FB two days to run the report and then the freeze was back in place.
We wouldn't be without a credit freeze.
I've had a credit freeze for years and there have been only two instances I needed a thaw. One was when I took out a Farm and Ranch policy with Texas Farm Bureau and they needed to run a one-time credit check because it was a new policy.What kinds of things would require a thaw? I was assuming only applications for new cards or loans, which would be few and far between for me. But you mention insurance policy - so maybe the thaw is needed for more routine things? Looks like a $10 charge here in IL for each temporary thaw.
Seems like I should do this, I just don't want any surprises and find I'm routinely needing to thaw this.
-ERD50
Thanks for noting the "logistics". I'm in Indiana, where apparently this is free!The good news about a freeze is you can always take it off if you don't like it. There's a little inconvenience if you're applying for new credit; however, the peace of mind is priceless.
Make sure the freeze is on both of you at all three credit bureaus.
Note: if you're applying for new credit, explain you have a credit freeze in place and you'll need to know which of the three credit bureaus they use for a credit check. In my case it's always been Experian. Log on, select a time period for which you want your credit to the thawed, pay with your credit card*, get a confirmation number (I think), and log out. Then the new creditor can run a credit check.
(*I log on, put in my PIN, put in my credit card information because I have to pay a $10.82 payment to temporarily thaw - hopefully that will be done away with soon.)
Here's what Consumer Reports had to say about the subject:
.. Put a freeze on your credit reports, watch your statements,..