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Good news for some of us on credit freezes
05-23-2018, 07:18 AM
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#1
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Moderator
Join Date: Apr 2012
Location: San Diego
Posts: 14,140
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Good news for some of us on credit freezes
New law will make placing and removing credit freezes free in every state. As a California resident I had to pay $10 per agency to unfreeze my credit when I bought my car last year. (0% financing).
I know some states already have laws requiring credit freezes to be free... This covers the rest of us.
https://amp.cnn.com/money/2018/05/22...eze/index.html
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05-23-2018, 07:31 AM
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#2
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2014
Posts: 7,306
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Quote:
Originally Posted by rodi
New law will make placing and removing credit freezes free in every state. As a California resident I had to pay $10 per agency to unfreeze my credit when I bought my car last year. (0% financing).
I know some states already have laws requiring credit freezes to be free... This covers the rest of us.
https://amp.cnn.com/money/2018/05/22...eze/index.html
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Thanks- that IS good news! I froze my credit for all three and now I just pass up new credit card offers because it's too much trouble and expense to un-freeze them. I pay in full every month but there are frequently some good sign-on bonus offers to be had.
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05-23-2018, 07:32 AM
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#3
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Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,518
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Good news indeed, thanks for posting. According to the article, the bill still needs to be signed and will take effect in 4 months, but it’s a done deal.
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05-23-2018, 07:37 AM
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#4
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2004
Location: SW Ohio
Posts: 14,404
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Thanks, this is good news. With the wide-ranging damage individuals experience largely due to the inability/unwillingness of companies to protect personal data, and the meager remedies that are available when they are negligent, this seems quite reasonable.
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05-23-2018, 07:49 AM
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#5
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2008
Posts: 13,127
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Maybe there is a silver lining after all from all the data breaches .
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Have you ever seen a headstone with these words
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05-23-2018, 02:38 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Jan 2006
Posts: 4,172
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Thanks for posting......had not heard anything about this ......but it is very welcome to have both security and also the freedom to unfreeze w/o the cost.
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05-24-2018, 05:57 AM
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#7
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2006
Location: Washington, DC
Posts: 11,313
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I was surprised when I got a new car a couple of months ago to find no charge for the unfreeze. I think Equifax was temporarily waiving the fee due to the breech but DC may have required the others to waive fees as well. Good to see that this will be a permanent requirement nationwide.
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Idleness is fatal only to the mediocre -- Albert Camus
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05-24-2018, 06:11 AM
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#8
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gone traveling
Join Date: Sep 2003
Location: DFW
Posts: 7,586
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I wonder how much revenue they were receiving from the freeze/unfreeze transactions?
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05-24-2018, 09:28 AM
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#9
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2011
Location: West of the Mississippi
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If one is over 65 it's already free.
If that is the only price Equifax pays for its fiasco, they should pop the champagne corks. It's like the rest of us getting a $2 fine for parking all day in a downtown NY No Parking area.
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The worst decisions are usually made in times of anger and impatience.
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05-24-2018, 09:28 AM
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#10
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
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Quote:
Originally Posted by rodi
New law will make placing and removing credit freezes free in every state. As a California resident I had to pay $10 per agency to unfreeze my credit when I bought my car last year. (0% financing).
I know some states already have laws requiring credit freezes to be free... This covers the rest of us.
https://amp.cnn.com/money/2018/05/22...eze/index.html
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Thank god! We only had to pay I think one of the three each when we put in our freezes, but I wasn’t looking forward to the temporary unfreeze charges.
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Retired since summer 1999.
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05-24-2018, 09:36 AM
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#11
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 37,931
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Quote:
Originally Posted by Chuckanut
If one is over 65 it's already free.
If that is the only price Equifax pays for its fiasco, they should pop the champagne corks. It's like the rest of us getting a $2 fine for parking all day in a downtown NY No Parking area.
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Not AFAIK. In TX the initial charge is free for over 65, but you have to pay for lifts and refreezes.
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Retired since summer 1999.
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05-24-2018, 10:05 AM
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#12
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Moderator Emeritus
Join Date: Apr 2011
Location: Conroe, Texas
Posts: 18,593
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Quote:
Originally Posted by Chuckanut
If one is over 65 it's already free.
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Not in Texas yet.
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*********Go Astros!*********
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05-24-2018, 11:09 AM
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#13
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Moderator
Join Date: Apr 2012
Location: San Diego
Posts: 14,140
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Quote:
Originally Posted by Chuckanut
If one is over 65 it's already free.
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It varies by state, currently. In CA it's free to put the freeze on the first time IF you are over 65 OR the victim of identity theft with a police report to prove it. IF you are under age 65 it's $10/agency.
It varies by agency - but it's typically $10 to lift the credit freeze for a date range if you're under 65. And $2 if you're over 65. So even seniors have to pay to unlock/relock.
https://www.oag.ca.gov/idtheft/facts/freeze-your-credit
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Retired June 2014. No longer an enginerd - now I'm just a nerd.
micro pensions 6%, rental income 20%
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05-25-2018, 05:54 AM
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#15
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Thinks s/he gets paid by the post
Join Date: Jan 2010
Location: dubuque
Posts: 1,163
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does anyone know when the new rules take effect? it would be nice to have a date. thanks
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05-25-2018, 06:03 AM
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#16
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,000
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Quote:
The changes will take effect about four months after the bill is signed.
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Congress just made credit freezes free
I understand the bill was signed yesterday.
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Numbers is hard
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05-25-2018, 06:06 AM
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#17
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2003
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Quote:
Originally Posted by frank
does anyone know when the new rules take effect? it would be nice to have a date. thanks
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4 months from last Tuesday.....
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05-25-2018, 06:53 AM
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#18
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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Now what would be great is if there could be a one-stop website that one could freeze/unfreeze multiple agencies at the same time.
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05-25-2018, 06:59 AM
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#19
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Join Date: Jun 2002
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Quote:
Originally Posted by pb4uski
Now what would be great is if there could be a one-stop website that one could freeze/unfreeze multiple agencies at the same time.
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One-stop shopping for identity thieves.
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Numbers is hard
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05-25-2018, 07:05 AM
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#20
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Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,518
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Quote:
Originally Posted by pb4uski
Now what would be great is if there could be a one-stop website that one could freeze/unfreeze multiple agencies at the same time.
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What I'd rather have is unrestricted and no-fee access to my credit report.
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