 |
|
09-07-2017, 05:48 PM
|
#1
|
|
Recycles dryer sheets
Join Date: May 2011
Location: Austin
Posts: 375
|
Freeze credit?
I don’t want new credit card or loan opened under my name anymore.
So I am wondering whether I can achieve this by freezing my credit at the 3 credit bureaus.
I guess many people on this board already done this.
|
|
|
 |
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!
|
|
09-07-2017, 05:55 PM
|
#2
|
|
Moderator Emeritus
Join Date: Apr 2011
Location: Conroe, Texas
Posts: 18,731
|
 Quote:
Originally Posted by HillCountry
I don’t want new credit card or loan opened under my name anymore.
So I am wondering whether I can achieve this by freezing my credit at the 3 credit bureaus.
I guess many people on this board already done this.
|
Yep! You guessed right!
__________________
*********Go Yankees!*********
|
|
|
|
|
09-07-2017, 06:02 PM
|
#3
|
|
Administrator
Join Date: Apr 2006
Posts: 23,038
|
__________________
Living an analog life in the Digital Age.
|
|
|
|
|
09-07-2017, 08:33 PM
|
#4
|
|
Recycles dryer sheets
Join Date: May 2011
Location: Austin
Posts: 375
|
So do you guys just do 3 or try more from the list on FAQ?
|
|
|
|
|
09-07-2017, 08:48 PM
|
#5
|
|
Moderator Emeritus
Join Date: Apr 2011
Location: Conroe, Texas
Posts: 18,731
|
Quote:
Originally Posted by HillCountry
So do you guys just do 3 or try more from the list on FAQ?
|
Did the big 3.
__________________
*********Go Yankees!*********
|
|
|
|
|
09-07-2017, 09:09 PM
|
#6
|
|
Moderator Emeritus
Join Date: May 2007
Posts: 12,901
|
Our credit has been frozen at all big three bureaus since 2015 because our health insurance company was breached. I have had to temporarily lift the freeze on a couple of occasions due to credit checks (the last time was to hook up utilities to my house). It is an annoyance (and an expense) but it beats dealing with the consequences of identity theft.
|
|
|
|
|
09-07-2017, 09:51 PM
|
#7
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Feb 2005
Location: Central MS/Orange Beach, AL
Posts: 9,072
|
I just did the big 3. At the moment I can't think of any reason I will have to lift the freeze, but will deal with it if it occurs.
__________________
Retired 3/31/2007@52
Investing style: Full time wuss.
|
|
|
|
|
09-08-2017, 06:01 AM
|
#8
|
|
Thinks s/he gets paid by the post
Join Date: Jan 2010
Location: dubuque
Posts: 1,174
|
If you freeze your credit do you have to lift the freeze in order to buy a new car? does the freeze cover all credit transactions?
|
|
|
|
|
09-08-2017, 06:08 AM
|
#9
|
|
Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,716
|
Quote:
Originally Posted by frank
If you freeze your credit do you have to lift the freeze in order to buy a new car? does the freeze cover all credit transactions?
|
A freeze covers new credit inquiries. So, anyone wanting to check your credit or open a new account would be denied and require you to temporarily lift the freeze.
|
|
|
|
09-08-2017, 06:14 AM
|
#10
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Nov 2009
Posts: 6,695
|
Quote:
Originally Posted by FIREd
Our credit has been frozen at all big three bureaus since 2015 because our health insurance company was breached. I have had to temporarily lift the freeze on a couple of occasions due to credit checks (the last time was to hook up utilities to my house). It is an annoyance (and an expense) but it beats dealing with the consequences of identity theft.
|
Same here, except that it wasn't an expense because in my state (NY) we can lift the freeze temporarily without incurring a fee.
I have had two instances since 2015 when I had to contend with the freeze. The first was when I tried to open a Sears CC to get a discount on a purchase. My attempt was denied and I didn't realize why until much later. The second was when I wanted to increase the limit on my existing CC. I dug out the PIN code from the freeze letter from the agency my bank used and in a conference call I authorized a temporary thaw to get the CC limit raised.
__________________
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.
"I want my money working for me instead of me working for my money!"
|
|
|
|
|
09-08-2017, 06:19 AM
|
#11
|
|
Recycles dryer sheets
Join Date: Mar 2012
Posts: 388
|
Froze the big 3 about 4 years ago. It'd easy to open a time window if a trusted agency needs to get access.
|
|
|
|
|
09-08-2017, 07:03 AM
|
#12
|
|
Thinks s/he gets paid by the post
Join Date: Dec 2014
Posts: 2,511
|
Quote:
Originally Posted by frank
If you freeze your credit do you have to lift the freeze in order to buy a new car? does the freeze cover all credit transactions?
|
I did not unfreeze to buy a new car, just paid cash.
Fido changed credit card issuers a while back. They were able to process that without unfreezing credit.
If you need a new account listed... the credit company will likely require it to be listed on your credit report and this will require unfreezing the credit reports temporarily
|
|
|
|
|
09-08-2017, 07:27 AM
|
#13
|
|
Thinks s/he gets paid by the post
Join Date: Oct 2015
Posts: 2,328
|
I have had credit freeze for many years. It CAN be a small hassle when you want to apply for a new credit card, or when you switch cellphone plans or electric/gas utilities (say, because you move to a different place). All of those require a temporary lift which in some states is free and in other states comes with a small fee. Over the years, placing temporary lifts has become much easier and now can be done online in just a few minutes. Well worth it to me.
|
|
|
|
|
09-08-2017, 07:39 AM
|
#14
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jun 2008
Posts: 13,147
|
I froze my credit a few years ago after falling victim to the IRS Transcript hack. Did have to temporarily thaw a couple of times. Once was to sign up for Obamacare. The other time, I forget why. Is a bit inconvenient but feels safer.
Switched cellphone carriers and credit check got blocked. But the carrier said, no problem, I could have monthly payments made via autopay to my CC instead of credit check, which I did. A few days ago, tried to sign up for Informed Delivery service through USPS website. But error in verifying due to credit freeze. Ended up making a trip in person to get verified at counter, face to face.
__________________
Have you ever seen a headstone with these words
"If only I had spent more time at work" ... from "Busy Man" sung by Billy Ray Cyrus
|
|
|
|
|
09-08-2017, 10:06 AM
|
#15
|
|
Recycles dryer sheets
Join Date: May 2011
Location: Austin
Posts: 375
|
Thanks for the information!
Just froze equifax/experian.
It seems that transunion online freeze portal is down. Will try later.
|
|
|
|
|
09-08-2017, 10:12 AM
|
#16
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 17,094
|
|
|
|
|
|
09-08-2017, 10:33 AM
|
#17
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Apr 2013
Posts: 11,078
|
Quote:
Originally Posted by Sunset
Probably being hacked .... [emoji23][emoji23]
|
Sized for their average transaction load! HAHA never seen that before.
|
|
|
|
|
09-08-2017, 12:53 PM
|
#18
|
|
Thinks s/he gets paid by the post
Join Date: Dec 2005
Location: Lake Livingston, Tx
Posts: 4,204
|
I posted this on another thread, but, remember you need to freeze your's and wife/husband/  ? in order to be safe. When we were purchasing a car, mine was frozen. When we got to that point, the finance guy said. "That's OK, your wife's isn't frozen" Still paid cash, and have since frozen her accounts.
__________________
If it is after 5:00 when I post I reserve the right to disavow anything I posted.
|
|
|
|
|
09-08-2017, 02:35 PM
|
#19
|
|
Recycles dryer sheets
Join Date: May 2012
Location: Brewster
Posts: 367
|
Perhaps I'm being naive, but why would I spend the money and put up with the aggravation? I look at my accounts every day, and run the free annual credit check on all three agencies every year - next year's is already in my To Do list.
If some ne'er-do-well opens a credit card in my name and I don't notice it until my annual free credit check, so what? It sounds like an easy problem to fix, I'm in no way liable, and I'll have the added advantage getting to feel justifiably self-righteous and indignant.
|
|
|
|
|
09-08-2017, 02:45 PM
|
#20
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 38,145
|
Quote:
Originally Posted by Nightcap
Perhaps I'm being naive, but why would I spend the money and put up with the aggravation? I look at my accounts every day, and run the free annual credit check on all three agencies every year - next year's is already in my To Do list.
If some ne'er-do-well opens a credit card in my name and I don't notice it until my annual free credit check, so what? It sounds like an easy problem to fix, I'm in no way liable, and I'll have the added advantage getting to feel justifiably self-righteous and indignant.
|
You don't want the ne'er-do-well to access your IRS records, your SS records, and maybe some existing bank accounts.
__________________
Retired since summer 1999.
|
|
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|
Linear Mode
