Applying security freezes.

Taylor Marchetta

• 2 min read
Applying security freezes.
Encased device that resembles a safe or a vault, surrounded by an icy environment. There are chains and locks suggesting it's securely sealed shut. In the background, there is a forest with snow on the trees, which gives a sense of coldness to the scene. The design submits this could be a concept for a high-security, possibly futuristic or fantasy-themed vault or safe, given its unusual and decorative appearance.
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Security freeze
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A security freeze, also known as a credit freeze, can be a useful tool to protect your credit information from unauthorized access. Here are some pros and cons:

Pros:

  1. Prevents unauthorized access: A security freeze restricts access to your credit report, making it difficult for identity thieves to open accounts in your name.

  2. No impact on existing accounts: Freezing your credit does not affect your existing credit accounts or credit score. You can continue to use your credit cards and loans as usual.

  3. Free (Under US law: S.2155): Federal and any states offer free security freezes. This makes it a cost-effective way to protect your credit.

  4. Easy to lift temporarily: If you need to apply for new credit or services, you can temporarily lift the freeze using a PIN provided by the credit bureau.

Cons:

  1. Inconvenience: Freezing your credit can be inconvenient, as you'll need to lift the freeze every time you apply for credit, which can take a few days.

  2. Not foolproof: While a security freeze can help prevent new accounts from being opened in your name, it may not prevent other types of identity theft, such as unauthorized use of your existing accounts.

  3. Doesn't protect against all types of fraud: A security freeze won't protect you from all types of fraud, such as someone using your existing credit card information online.

Overall, a security freeze can be a useful tool for protecting your credit information, but it's important to weigh the pros and cons based on your individual circumstances.

Federal law on Security freeze.

S.2155 - Economic Growth, Regulatory Relief, and Consumer Protection Act

"(Sec. 301) The bill amends the Fair Credit Reporting Act to increase the length of time a consumer reporting agency must include a fraud alert in a consumer's file. It also: (1) requires a consumer reporting agency to provide a consumer with free credit freezes and to notify a consumer of their availability, (2) establishes provisions related to the placement and removal of these freezes, (3) creates requirements related to the protection of the credit records of minors."

The state you live in might have different laws on the books.

If you've been compromised by identity theft: https://www.identitytheft.gov/. The site might be able to provide some good advice on how to make a recovery.

Organization info.

Organization: Equifax Experian Trans Union Innovis Lexis Nexis
Address: P.O. Box 740241 Atlanta, GA 30374 P.O. Box 9532 Allen, TX 75013 2 Baldwin Place Chester, PA 19002-1000 P.O. Box 1989 Pittsburgh, PA 15230-1689 P.O. Box 105108 Atlanta, GA 30348-5108
Phone number: 800-525-6285 888-397-3742 800-888-4213 800-540-2505 888-497-0011
Web Site: https://www.equifax.com/personal/credit-report-services/credit-freeze/ https://www.experian.com/freeze/center.html https://www.transunion.com/credit-freeze https://www.innovis.com/securityFreeze/index https://consumer.risk.lexisnexis.com/

Next post will be about Freezing children's credit identity