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Credit Freeze

Old 10-25-2019, 09:40 AM
  #1  
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Default Credit Freeze

Backstory:

Yesterday I get an email confirm that someone sent money to a recipient in Morocco from an old online Western Union account I had. I did some digging. The transaction did occur (confirmed with WU). I immediately reported it. I confirmed the card used to send the money wasn't any that I owned. I called local PD and filed a report. Police said good on me for reporting it because it looks like someone used a stolen debit card to send the money using my account. So in summary, it looks like someone bruteforced my old WU account online, input a stolen debit card, and sent the money. I checked all three credit reports, no new accounts were opened, no suspicious activity.

I went ahead and took the next step of freezing my other three credit scores.

In my research, this doesn't hurt your credit (which mine is very good @ 800+) and doesn't hurt anything you have open.

I rarely ever apply for new credit. I just re-financed my mortgage. I also just leased my new truck. The next time I'll need my credit run is in 2+ years when my fiancee's lease is up.

Big question I have: Why don't I just leave it frozen? It looks like I can un-freeze it pretty easy if I need to apply for new credit.
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Old 10-25-2019, 10:02 AM
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I got breached by the equifax hack, had a bunch of accounts opened in my name & spent a ton of time unwinding it all. Since then I’ve left mine frozen with no issues. I haven’t tried to open any new lines of credit so no comment on how that goes.
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Old 10-25-2019, 10:03 AM
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Originally Posted by HookMeUpII View Post
...
Big question I have: Why don't I just leave it frozen? It looks like I can un-freeze it pretty easy if I need to apply for new credit.
Got an answer yet?
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Old 10-25-2019, 10:06 AM
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Originally Posted by chrispnet View Post
Got an answer yet?
I don't but I feel like maybe there's something I'm missing here?

Why doesn't the American public leave there's frozen then?

I might be opening myself up to flamefest for asking that question. I apply for credit for only two reasons: auto lease and mortgage...which I don't do often at all.
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Old 10-25-2019, 10:14 AM
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Originally Posted by HookMeUpII View Post
I don't but I feel like maybe there's something I'm missing here?

Why doesn't the American public leave there's frozen then?

I might be opening myself up to flamefest for asking that question. I apply for credit for only two reasons: auto lease and mortgage...which I don't do often at all.
No down side unless you buy a lot of stuff on credit and don't like to have to unfreeze. Security>Convenience.
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Old 10-25-2019, 10:14 AM
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Originally Posted by HookMeUpII View Post
I don't but I feel like maybe there's something I'm missing here?

Why doesn't the American public leave there's frozen then?

I might be opening myself up to flamefest for asking that question. I apply for credit for only two reasons: auto lease and mortgage...which I don't do often at all.
Nope. There is an unlocking charge, but that's about it.
Most guys just aren't preparing themselves because this stuff happens to "someone else".
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Old 10-25-2019, 10:19 AM
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I froze my accounts (and wife's) 8 years ago. We've slept wonderfully since. We tell everyone one we know to do this....
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Old 10-25-2019, 10:21 AM
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My SS# has been hacked, froze it get weekly updates from Experion. Lot of time on phone to clear up but nothing huge , thankfully caught it in time.


I would (and DO) advise EVERYONE to put a freeze on their SS#. Even KIDS
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Old 10-25-2019, 10:26 AM
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I keep mine frozen. If someone needs to run a credit check I ask who they are using and unfreeze it until the check goes through and then refreeze it. No adverse affect on credit score that I can see, mine is 800+
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Old 10-25-2019, 10:33 AM
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Mine has been frozen for a while. Bought a car and thawed it for a few days and then back in the freezer.
When you un freeze it you can set a time limit and it will go back in the freezer.

Easy.

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Old 10-25-2019, 10:34 AM
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I froze all three credit bureaus about 3 years ago. When I purchase something requiring a credit inquiry I ask which credit bureau they will be using and un-freeze just that one for 24 to 48 hour. Not a big deal to the un-freeze and last time I did it it was free. The frozen scores have caused some hassle generally because of the finance person didn’t pull the score in a timely manner or inquired to the wrong bureau.
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Old 10-25-2019, 10:39 AM
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Originally Posted by buzzellc View Post
... Not a big deal to the un-freeze and last time I did it it was free. ...
Now that you say that, I vaguely recall that "free" is now the law.
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Old 10-25-2019, 11:45 AM
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I don't know you wouldn't keep it frozen. Credit monitoring will only tell you AFTER someone does something with your credit Freezing it (at all three credit bureaus) will keep them from doing something with it to begin with. In SC its always been free; I've had mine frozen since a few years before I found out that the SC DOR got hacked for everyone who filed taxes since 1998. If I ever need to buy anything, I just unfreeze them for a set amount of time (you can schedule it to freeze/unfreeze)
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Old 10-25-2019, 12:53 PM
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Thanks guys. I think that basically answers my question. I am going to keep them frozen until it's time to apply for some sort of credit.
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Old 10-25-2019, 02:55 PM
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Keep it frozen. I went through some identity theft issues a few years back and have had them frozen since then.

At this point the unfreeze is basically instant, so if I want to apply for a loan (I did, two, last month) I can unfreeze for 1-2 days then refreeze. My only complaint is that I have gotten pretty crappy answers from some groups about exactly WHICH credit bureaus they hit, and i'm not willing to randomly unfreeze all three, but most have been ok.

I feel like I've seen a reduction in junk mail since then but couldn't swear to it. I tell everybody I know to keep them frozen. As long as you can use the internet and can be bothered to think about it 30 mins before you try to open an account, you'll be fine. To be honest, as a grown adult it is surprising how RARELY I need to access it.
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Old 10-25-2019, 03:15 PM
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I keep mine frozen.... But you have to be careful. I had mine unlocked for a auto purchase and it was suppose to re lock after 48 hours.

Two months later I discovered it was still open at one.
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Old 10-25-2019, 03:33 PM
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Wife and I have had ours frozen for 3+ yrs now without issue. From what I've researched, having it frozen has no bearing on your credit score.
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Old 10-25-2019, 05:20 PM
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All of the big hacks in the last few years means that virtually everyone has had enough info stolen for someone to open credit lines in their name.... You have to be stupid to NOT keep your credit frozen.
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Old 10-25-2019, 05:32 PM
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I just keep insurance on my credit line. I’ve had two credit cards go south. Both times the card company were on it before it became an issue. I suspect both were from employees of vendors I’ve used. The card co went all in to find the culprits and left me out of the hassle.p
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Old 10-25-2019, 05:38 PM
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The wife and I froze our credit reports many years ago. The only problem I've had was when I applied for online access to my Social Security account. SSA ran a credit check through Experian without telling me and the check failed due to my locked credit report. Their explanation was "that's how we confirm your identity" (WTH? At that point, they had been paying me a SS benefit for 2 years!) I went to the local SSA office, showed them a photo ID and that seemed to satisfy them.
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