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I have had my credit frozen for many years. When I moved and needed credit approval for my utilities, I unfroze it for 30 days. If you lose the pins you are screwed. There is no way that I know of to reinstate it. You can't access Social Security with your credit frozen either. Try and open a credit card and you will be denied.
I froze y credit over ten years ago and have had no problems. I also have a large LOC so have never needed credit. I have purchased a new home and several automobiles during that time and never had to unfreeze my credit due to paying cash.
Just recently, for the first time ever I had to do a temporary unfreeze, that was when my LOC termed out and I needed to get a new one. LOC's are good for 10 years and my ten years was up. YOu can unfreeze your credit in several ways. You can unfreeze it for a specific company, say you buy new vehicle. You can unfreeze it for only that dealership, or you can unfreeze it for a certain period of time.
I unfroze mine for three days to allow my bank to finish my LOC. It can be for any period of time you request. I could have unfrozen it for just my bank, but they charge more to unfreeze if you do it for one specific company.
The cost to unfreeze was $5 for each myself and my wife at two companies, and the third company charged me $10 for my unfreeze, and $5 for my wife, for a total of $35 to unfreeze it for a few days. It's usually $10 for each person but because I'm over a certain age, I believe it's 65, they give you a price break.It was a simple procedure.
I have had any problems with insurance or any other company by having a freeze. I highly recommend doing it. I sleep wel at night knowing my credit is safe.
I have had my credit frozen for many years. When I moved and needed credit approval for my utilities, I unfroze it for 30 days. If you lose the pins you are screwed. There is no way that I know of to reinstate it. You can't access Social Security with your credit frozen either. Try and open a credit card and you will be denied.
I had no problem opening accounts with utility companies when I moved to a new area. The new utility companies checked with my previous companies to see if I paid by bills and it was a done deal.
I also had no problem with SS, as I retired and applied for SS for both myself and my spouse and the question of SS never came up. We have been collecting SS fir a few years now and have never had a problem or a question about credit??
I have had the same CC for years, no need to apply for a new one so that too has never been an issue.
I did apply for credit to an out of state company to supply for credit for fuel oil for one of my out of state rental properties and they wanted me to unfreeze my credit, so I paid for the oil on my CC rather than unfreeze my credit. Having an LOC means never having to unfreeze credit every time you turn around.
As mentioned, I have only unfrozen my credit one time in 10 years, and that was ro renuw my LOC, so I'm good for another 10 years.
You can't access Social Security with your credit frozen either.
I forgot about this. Tried to register online - and couldn't. SS needs to to verify who you are with Experian.
But instead of unfreezing my credit, I just went down to the SS office in person with ID. Proved who I was and they gave me a letter with a password to sign-up online.
Hey, I am bumping this thread because I was going to ask the same question. All the credit scares in the news (plus I very rarely apply for credit) got me thinking it might be a good thing for me. Places that have been hacked include places where I have information on file (although I've never been contacted that I need to worry). Still, you find out these things "months" after the hack. So I started thinking maybe a credit freeze would be a good, preventative measure.
Although my original question was answered, it looks like no one answered the person who asked, "what if you don't get the pins/lost in the mail." That does concern me. Chances are, the pins won't get lost, but I've had mail lost in the past--it happens. I can imagine other scenarios too where the pins could be lost or destroyed. There just seems to me there has to be another way to prove your identity if you need to unfreeze your credit.
Last edited by TMBGBlueCanary; 06-08-2015 at 08:23 AM..
I had some very funky unauthorized inquiries on my credit, and another SS# associated with my credit report. I placed a 90 day freeze on it several years ago to protect it during a questionable time. As I'm rebuilding my credit, I will certainly investigate having a regular freeze on my credit to protect it.
What have been your experiences with credit freezes?
-- Do you have one? How long? How has it worked out? Good/Bad?
I have had mine for two years now. I didn't have my identify stolen if that's what your asking. There's really no way to tell if it's been good or bad for me, same as having fire insurance, it's a complete waste of money because my house didn't catch on the last two years. Did I really need it?
Quote:
Originally Posted by rdflk
-- How about getting it lifted? I've seen a few nightmare stories.
I lifted it twice so far, once for a security check for a job, another to buy a car. I had zero trouble both times, but I did find out what credit agency they were running my credit on, so I only had to temporarily unfreeze my credit for one agency, not all three. I don't recall if it was Experian either time.
Quote:
Originally Posted by rdflk
I've thought about getting freezes, but the few nightmare stories I've seen about not being able to talking to a PERSON IF I need to, if something goes wrong getting it lifted makes me wary.
I'm sure if you added up all the people who had nightmare problems with lifting there credit freezes, you be hard pressed to come up with a 100 people total. compare that to the estimated 15 million people a year that have some form of identify theft, your concerns are WAY OVER BLOWN,
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