Starting today you can freeze and thaw your credit reports with no fee, thanks to a law passed by Congress.
Credit freezing can be useful to prevent fraud as it will prevent new accounts from being opened, but you need to remember to thaw your reports before you apply for credit.
You may also be able to use freezing to your advantage in case you have many hard pulls on one credit report and don’t think you’ll get approved for a credit card, you may be able to have the bank’s reconsideration department look at another report that isn’t frozen. People have success getting banks like Chase to check another report when one or two are frozen. Capital One does 3 hard pulls when you apply for credit, but people have had success freezing one or 2 reports to limit the hard pulls that they do.
- Click here to freeze/thaw your Equifax report.
- Click here to freeze/thaw your Experian report.
- Click here to freeze/thaw your Transunion report.
What are your credit freezing strategies?
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13 Comments On "You Can Now Freeze Your Credit Reports For Free"
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Which banks will deny you based on too many pulls?
This is wonderful news!
How easy will it be to unfreeze?
Easy.
If the report is freezed, can they add bad reports to it?..
This is a great question. Would love to know the answer. That way bad news isn’t posted to that account. You can then freeze the account that does have the bad report and unfreeze the one that doesn’t.
I always understood it as news can always be added to your record but the access to new credit checks is frozen. You should also note that organizations that you have a relationship with can periodically check for any changes.
It only stops new accounts from being opened, not reporting from existing accounts.
what about wells fargo do they pull from all 3 agencies?
do you have to have a banking account to be approved for cc with them?
For how long does it stay frozen?
I will assume till you unfreeze it .. lol
Tu b’shvat
There is a 4th credit reporting agency, Innovis. https://www.innovis.com/personal/securityFreeze