Good news for some of us on credit freezes

[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/pf/free-credit-freeze/index.html

 

[athena53]

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/pf/free-credit-freeze/index.html

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.

 

[MichaelB]

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.

 

[samclem]

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.

 

[easysurfer]

Maybe there is a silver lining after all from all the data breaches .

 

[kaneohe]

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.

 

[donheff]

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.

 

[eytonxav]

I wonder how much revenue they were receiving from the freeze/unfreeze transactions?

 

[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.

 

[audreyh1]

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/pf/free-credit-freeze/index.html

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.

 

[audreyh1]

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.

Not AFAIK. In TX the initial charge is free for over 65, but you have to pay for lifts and refreezes.

 

[aja8888]

If one is over 65 it's already free.

.

Not in Texas yet.

 

[rodi]

If one is over 65 it's already free.

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

 

[kaneohe]

New law signed by President.......... https://www.cnbc.com/2018/05/23/how...affects-consumers.html?recirc=taboolainternal

now the 4 mo. wait............

 

[frank]

does anyone know when the new rules take effect? it would be nice to have a date. thanks

 

[REWahoo]

The changes will take effect about four months after the bill is signed.

Congress just made credit freezes free

I understand the bill was signed yesterday.

 

[ShokWaveRider]

does anyone know when the new rules take effect? it would be nice to have a date. thanks

4 months from last Tuesday.....

 

[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.

 

[REWahoo]

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.

One-stop shopping for identity thieves.

 

[MichaelB]

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.

What I'd rather have is unrestricted and no-fee access to my credit report.

 

[GTFan]

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.

Yeah I'm shocked, shocked I say that Equifax took no penalty from Congress out of this. /s

It's amazing to me that these three agencies control the keys to the credit kingdom with so little oversight.

Well, no it isn't.

 

[Sunset]

What I'd rather have is unrestricted and no-fee access to my credit report.

I'd rather have the free freeze and unfreeze, as that will stop some crime.



We already get free access to credit report once per year, and even if you checked it every day, all you would see is that someone already opened a CC or took out a loan in your name.

The crime would already be done some time ago as credit history has a built in delay.