[Maddie2009]

You heard about Equifax problem. I have frozen my credit account. I think, it's a good thing to do. Now, it's free.

Equifax | PersonalIDInfo

Free credit freezes from Equifax | Consumer Information


September 19, 2017
by
Lisa Weintraub Schifferle
Attorney, FTC, Division of Consumer & Business Education

Many people have had very sensitive personal information exposed in the Equifax breach — Social Security numbers, account numbers, even drivers’ license numbers. Equifax is offering free credit freezes until November 21, 2017. The company also will refund fees to anyone who already paid for freezes since September 7, when it announced the breach. If you’re thinking of placing a freeze, read this first.

A freeze means that no one (including you) can access your credit file until you unfreeze it, using a PIN or passphrase. That makes it harder for identity thieves to open new accounts in your name.

To be effective, you must place a freeze with all three credit reporting agencies — Equifax, Transunion and Experian. That’s because when a thief tries to take out new credit, a business can pull your credit report from any of the three agencies. If you’ve only frozen your Equifax file and the business checks with Experian or Transunion, your Equifax freeze does you no good.

There’s also cost to consider. A freeze can cost you money every time you freeze and unfreeze your file. While Equifax will let you place or lift a freeze for free until November 21, TransUnion and Experian are not offering free freezes. And, as of now, Equifax’s offer will end on November 21. That means that any time you need to get new credit, you’ll need to lift the freeze, then place it again, with each of the three agencies — at a cost of $5 to $10 per agency each time, depending on your state’s law.

But wait, you say, I heard that freezes are free for identity theft victims. So, will I get free freezes from the other two agencies too? No. An identity theft victim is someone whose information not only has been exposed, but also has been misused. If you’re a data breach victim, your information is at greater risk of misuse but unless that happens, you’re not an identity theft victim and not entitled to free freezes on that basis.

To learn more about credit freezes, read Credit Freeze FAQs and Extended Fraud Alerts and Credit Freezes. If you want a free credit freeze from Equifax you can call them at 800-349-9960 or visit them online at freeze.equifax.com.

If you’re looking for an alternative to a credit freeze, consider a fraud alert. Although a fraud alert won’t lock your credit like a freeze does, it will tell anyone who runs your credit that they should check with you before opening a new account. Fraud alerts are free but they end after 90 days, unless you remember to renew them. You may also want to sign up for Equifax’s free credit monitoring, which lets you know about changes to your credit file. But remember that the free credit monitoring doesn’t stop someone from opening accounts in your name. Also, it lasts only one year and the threat of identity theft relating to the breach is likely to last a lot longer than that.

[villagetinker]

If you are over 65 and a resident of Florida, you get Credit Freezes for FREE.

[CFrance]

Originally Posted by villagetinker

If you are over 65 and a resident of Florida, you get Credit Freezes for FREE.

vt, could you please list how and where and with whom?

[jnieman]

Interested to know if it is necessary to go to the other 2 credit bureaus and freeze there also. We were also breached and were successful freezing our credit last week on Equifax.

[Carla B]

It is necessary to inform all three. Like VT said, if you're over 65 and a Florida resident, no charge. However, they can levy a $10 charge if you lift it temporarily. The PIN# should be kept in a safe place. If you want to lift it to buy something or get a new credit card, ask the vendor which credit bureau they intend to use. If they tell you they don't know, it is a "random check," then lift one and see if that works. Always only allow a few days the before lift expires.

[Indy-Guy]

Clark Howard Credit Freeze Guide

Credit Freeze Guide: The best way to protect yourself against identity theft | Page 329171449 | Clark Howard

[Mleeja]

Originally Posted by villagetinker

If you are over 65 and a resident of Florida, you get Credit Freezes for FREE.

But if you need to unfreeze the accounts is there a charge for this?

[villager]

They charged me for my credit freeze. Bummer. Wish I had known beforehand.

[simpkinp]

Originally Posted by Indy-Guy

Clark Howard Credit Freeze Guide

Credit Freeze Guide: The best way to protect yourself against identity theft | Page 329171449 | Clark Howard

Thank you so very much for posting this. I froze all my credit and will sleep better tonight. You are an angel 👼

[Schaumburger]

Originally Posted by Mleeja

But if you need to unfreeze the accounts is there a charge for this?

According to the Clark Howard Credit Freeze Guide: "The cost to “thaw” your reports for one creditor — or for a specific period of time — ranges from free to $10."

I froze all 3 credit reports 3 weeks ago. I live in Illinois, and I was charged $10 per report. But in my opinion it was money well spent, as I still work full time, and I don't have unlimited free time to watch all 3 credit reports like a hawk. Since I have no plans to open a new credit card, buy a car or a home in the foreseeable future, a credit freeze on all 3 credit reporting agencies seemed like a prudent measure. Now I just have to remember to keep the 3 PIN's from the credit report agencies in a safe place.

I did get my Transunion credit report (free) about 2 weeks ago. Fortunately nothing suspicious was on Transunion's report. Four months from now I will have to remember to either get my Experian or Equifax credit report for free. And then 4 months after that, get the third credit report for free.

Hopefully most people know they are entitled to get their credit reports free once a year. Supposedly the best strategy is to request your credit report every 4 months from a different credit report agency on a rotating schedule.

[Schaumburger]

Interesting "coincidence" that Equifax CEO Richard Smith and former chief security officer Susan Mauldin both retired shortly after the breach was disclosed.

According to an article on the CNBC web site, the board of directors of Equifax might clawback pay of former CEO Richard Smith and former chief security officer Susan Mauldin.

According to CNBC, Smith's walked away with $18.4 million in pension benefits, but forfeited his 2017 bonus. Hope he can scrape by on $18.4 million.