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To Freeze or Not To Freeze Your Credit File
Posted on Jul 5, 2007 by Michelle Pastor
There is debate about freezing a credit file. This blog by Paul Richard explains the controversy and tells what happens when he freezes his credit report. To read more, read the entire blog.
This writer has initiated a credit file freeze on all of my credit files by sending a letter to each of the three major credit reporting agencies. Obtaining credit file freezes in California, for example, is relatively easy. It required a $10 administrative fee, some identification confirmations (copy of a driver's license etc.) and each request was sent via Certified Mail with a return receipt requested.
Within a week, Experian, Trans Union and Equifax had acknowledged my freeze request in writing and sent me a copy of my credit report. Also included was a PIN number which must be used when I may want to utilize a temporary unfreezing or "lift" so a creditor might look at my files.
Next, I put my credit freeze requests to the test and made applications for some gasoline credit cards and a credit card from a bank. The bank credit department called me within a week to inform me they couldn't access my file and a temporary lift would have to be utilized if I wanted them to proceed. The gasoline credit card companies sent me a letter indicating they couldn't get access to my credit files within two weeks of contacting them.
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Comments
George Jenkins on Jul 8, 2007
Thanks for posting this. I am very curious about the benefits of credit freeze since, a) I live in a state where we don't have this, and b) I have been a victim of ID theft.
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