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Is this 'freezing my credit' at Equifax?
Old 09-12-2017, 04:32 PM   #1
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Is this 'freezing my credit' at Equifax?

I signed up for the "free" credit monitoring through Equifax (TrustedID). When I logged into my account, I see this:

Credit Lock Status

Status: Report unlocked

There is a button labeled "Lock Report" and I'm wondering if I click it, is that the same thing as freezing my credit at Equifax?
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Old 09-12-2017, 04:48 PM   #2
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I think so
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Old 09-12-2017, 05:40 PM   #3
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Look so....

https://www.equifaxsecurity2017.com/trustedid-premier/

Note the footnote:
Quote:
Locking your credit file with Equifax Credit Report Control will prevent access to your Equifax credit file by certain third parties, such as credit grantors or other companies and agencies. Credit Report Control will not prevent access to your credit file at any other credit reporting agency, and will not prevent access to your Equifax credit file by companies like Equifax Global Consumer Solutions which provide you with access to your credit report or credit score or monitor your credit file; Federal, state and local government agencies; companies reviewing your application for employment; companies that have a current account or relationship with you, and collection agencies acting on behalf of those whom you owe; for fraud detection and prevention purposes; and companies that wish to make pre-approved offers of credit or insurance to you. To opt out of such pre-approved offers, visit www.optoutprescreen.com.
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Old 09-12-2017, 06:19 PM   #4
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I don't think it is the same thing. TransUnion has a free product called True Identity where you can lock your report (or unlock it) at will and for free. I considered doing it but think I will do the freeze as well.

I think the difference is that with a freeze the credit union is doing the freezing. They give you a PIN to unlock. They are the ones you actual do the freeze and have control over it.

With the lock you are doing the locking and unlocking. If someone hacks you and gains access to your password for TrueIdentity (or presumably Trusted Premier) then that person could then unlock your credit and you would have no recourse against TransUnion (or Equifax as the case may be) since you are the one controlling the locking and unlocking. I think it might be more convenient to do that type of locking and unlocking rather than the true credit freeze but I think we are going to do the freeze.

Note that this is what I think based upon what I read, but I haven't actually tried out either Trusted Premier or True Identity so don't know exactly.
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Old 09-12-2017, 07:58 PM   #5
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Reading closer, my thought is that you are right Katsmeow. A freeze is more firm than a lock.

More convenient vs more secure.
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Old 09-13-2017, 06:18 AM   #6
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Also, it makes sense to lock all three of the big three in case some credit extenders are checking only one of the three. Many companies check all three but I have seen reports here of people getting new CCs or auto loans needing to unfreeze only one account to get the product.
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