![]() ![]() You have to thaw your reports before applying.You'll also have to contact each of the other reporting agencies, even if they share a parent company, to freeze your reports. Unlike with fraud alerts, you have to freeze each of your three credit reports separately. It's free to freeze and unfreeze your reports, and there are often options to do this online, over the phone or by mail. While a freeze can help keep someone else from opening a new account in your name, they're not a fool-proof option and there are drawbacks to consider. You can review your report and dispute any inaccurate information for free, and the company has to investigate any non-frivolous disputes within 30 to 45 days. Although, unlike with the big three, you won't necessarily receive a free report at least once every 12 months. The Fair Credit Reporting Act (FCRA) also applies to these agencies, which means you can request a copy of your report. Freezing your report may keep a fraudster from opening various types of accounts in your name. LexisNexis Risk Solutions owns SageStream, and you can request a freeze from their website. SageStream collects and reports information to auto lenders, credit card issuers, retailers, utility companies and mobile phone carriers. Freezing your report may keep a fraudster from opening a new mobile phone plan or utility account. The NCTUE focuses on payment and account history data related to telecommunications, television, and utility accounts. ![]() National Consumer Telecom & Utilities Exchange.Freezing your report can also help keep fraudsters from opening credit accounts. While it's not as well-known as the big three, Innovis is another credit reporting agency that creditors generally use to help with identity verification and fraud prevention. Freezing your report may keep a fraudster from taking out an alternative loan or lease agreement. Clarity Services focuses on alternative financial services, such as payday loans and rent-to-own agreements. Freezing your report may keep a fraudster from opening a checking or savings account. ChexSystems primarily collects information about checking accounts, such as when you opened an account, if you've bounced checks and why an account was closed. These agencies that allow you to freeze include: The Consumer Financial Protection Bureau (CFPB) has a list of consumer reporting agencies that it updates each year with information on what each company does, its contact information, whether you can get a free copy of your report and if the company will freeze your report. ![]() Many of them have a particular focus, such as tenant screening or utilities. Similar to the three main credit bureaus, these agencies collect and store information about you and sell this information to other organizations. While many people know about the three nationwide consumer credit bureaus, there are many lesser-known consumer reporting agencies. ![]() You can also create and freeze credit reports for your children who are under 16 years old, which can help protect them from child identity theft. You can freeze your report with each of the big three credit bureaus for free. If your credit report is frozen, the credit bureau won't release your credit report, and the creditor will likely decline the application. Why freeze your credit reportsĪ credit freeze (or security freeze) limits who can access your reports, which can keep someone else from opening an account in your name.įor example, if someone tries to apply for a new loan or credit card in your name, the creditor will likely try to check your consumer credit report and FICO® Score. But there are also other consumer reporting agencies that collect and sell information about you, so freezing your reports at these agencies can be important. Many people know this is an option with the big three consumer credit bureaus - Experian, Equifax and TransUnion. Freezing your three main credit reports as well as reports at other consumer reporting agencies can keep criminals from opening accounts in your name.įreezing your credit reports is a simple step you can take if you're worried about someone stealing your identity and opening accounts in your name. ![]()
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