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Freeze! Your credit...

By Margo Otey

Real Estate Agent with REMAX EXECUTIVE REALTY

March 14, 2010 11:00 PM

To help protect against Identity Theft try a Credit Freeze.

The 3 major credit reporting companies - TransUnion, Experian and Equifax - allow you to freeze access to your credit reports for a fee of $5/Freeze. Once a Credit or Security Freeze is placed on your account, credit reporting agencies will not release your information to anyone. If someone tries to use your identity to open a credit card or take out a loan in your name, they will be denied access.

A "Personal Identification Number" (PIN) allows you, for the same small fee, to lift the freeze when you need access. You can specify the duration of access - a week, a month, or permanently. After the time expires, the freeze goes back in place.

To complete the freeze on your accounts use these web links pasted into your browser:

http://www.experian.com/consumer/security_freeze.html

http://www.transunion.com/corporate/personal/fraudIdentityTheft/preventing/securityFreeze.page

http://www.equifax.com/cs/Satellite?c=EFX_ContentRoot&cid=1165203975981&pagename=5-1%2F5-1_Layout

Protect your credit!

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Emily Medvec

eXp Realty LLC - Santa Fe, NM

Broker | Realtor | Serving Santa Fe & Northern NM

Sounds like an interesting new product from credit big three.

Imagine how it would work if instead of us paying to freeze credit information access, the accounts were automatically frozen without fee and the information ONLY released for the same fee to parties known in advance, such as lenders, insurance companies and of course future employers.

Mar 14, 2010 11:13 PM

Barbara Todaro

RE/MAX Executive Realty - Happily Retired - Franklin, MA

Previously Affiliated with The Todaro Team

Margo....that's good information....I think that's been in existence for years....

Mar 14, 2010 11:26 PM

Margo Otey

REMAX EXECUTIVE REALTY - Westborough, MA

It's surprising that more people don't take advantage of this method of protecting your credit - especially in light of the increased focus of the bankers on the credit score of mortgage applicants?! Glad the information was useful.

@Emily: I imagine there would be some push-back from consumers if they had to pay each time someone pulled their credit history - even if it was at the consumer's request? It is a delicate balance between cost/consumer rights.

Mar 15, 2010 01:46 AM

Katie McBride

RE/MAX Executive Realty - Hopkinton, MA

The McBride Team

Great information, Margo. Thanks so much for sharing that with all of us.

Mar 16, 2010 02:28 AM

Hi Katie - you are welcome!

Mar 16, 2010 02:40 AM

Freeze! Your credit...

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Margo Otey

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