Freezing your credit?

Starpolisher · ‎03-10-2010

Has anyone here ever done this? Recently my son was sent a letter, from a bank, about opening a credit card that he did not apply for. It said due to his "security freeze" they needed more information. It came to my address and he hasn't lived here in years(which is what made me suspicious). He was't worried and advised me to freeze mine. I know it's a good idea but just how much of a hassle is it if you need to open a new account? He says you have to plan ahead. You have to do it with all three credit reporting agencies. Sometimes, I will open an account, rather than use my main card, just to get a promotion, (i.e., interest free, $Off, etc.) even though I may never use it again. I bought my other son a snow blower for Christmas from Lowe's and opened an account there because it gave me $100 off. (I never go to Lowe's)

Would like opinions from others who have put a "security freeze" on your credit.

TIA Starr

"Kindness is like snow ~It beautifies everything it covers"
-Kahlil Gibran

kaydee50 · ‎02-07-2011

Your son is correct. DH has frozen his credit several times but if applying for credit or a mortgage you have to remember to unfreeze it. As I recall, there is a password that you have to keep track of in order to undue the freeze. I don't bother.

CelticCrafter · ‎03-09-2010

You have to go to each credit reporting bureau to freeze your social security number and they will give you a password or pin number you have to save in order to the lift the freeze.

When you want to lift the freeze you can do it for a few days or remove it completely.

Diamonds22 · ‎03-09-2010

@CelticCrafter wrote:
You have to go to each credit reporting bureau to freeze your social security number and they will give you a password or pin number you have to save in order to the lift the freeze.

When you want to lift the freeze you can do it for a few days or remove it completely.

I froze mine 1 time & had a very hard time trying to unfreeze them. It took 2 days trying to get it unfrozen that I said never again. For me it was too much trouble as you have the company that wants to check it the same day & you can't get it done quickly.

tototwo · ‎03-09-2010

Years ago, someone stole mail out of my mailbox, and my neighbors' mailboxes. The thieves got enough personal info from my mail for someone to apply for a mortgage in Calif and get a loan on a car in Missouri within a couple days. I froze everything I could! I worked with my bank and the credit unions to get my identity back. It was over a year before my finances were normal again. So, yes, I'm a firm believer in freezing accounts. It's a pain, but necessary.

* A woman is like a tea bag. You can't tell how strong she is until you put her in hot water. *
- Eleanor Roosevelt

drizzellla · ‎03-14-2010

We have had our credit frozen for years. And it has worked out well - for us.

But we seem to have a different approach to credit cards. I have 2. And keeping track of 2, suits me just fine. I also would like to add I have dealt with quite a bit of fraud especially with my parents when they were in a nursing home. But I also had fraud against my personal account.

Have not had to deal with fraud since freezing my credit. Would like to add that I am retired. Don't plan on buying another house or car or big ticket item. I can always unfreeze to buy them if I choose.

If you open new accounts for a promotion. Freezing your credit won't work out well for you.

jackthebear · ‎03-11-2010

@Starpolisher wrote:
Has anyone here ever done this? Recently my son was sent a letter, from a bank, about opening a credit card that he did not apply for. It said due to his "security freeze" they needed more information. It came to my address and he hasn't lived here in years(which is what made me suspicious). He was't worried and advised me to freeze mine. I know it's a good idea but just how much of a hassle is it if you need to open a new account? He says you have to plan ahead. You have to do it with all three credit reporting agencies. Sometimes, I will open an account, rather than use my main card, just to get a promotion, (i.e., interest free, $Off, etc.) even though I may never use it again. I bought my other son a snow blower for Christmas from Lowe's and opened an account there because it gave me $100 off. (I never go to Lowe's)
Would like opinions from others who have put a "security freeze" on your credit.
TIA Starr

yes I did it.

and I only use one credit card, not opening more now, not worth it to save a discount for a card you have attached to you.

San Antonio Gal · ‎05-18-2017

@Diamonds22 wrote:
@CelticCrafter wrote:
You have to go to each credit reporting bureau to freeze your social security number and they will give you a password or pin number you have to save in order to the lift the freeze.

When you want to lift the freeze you can do it for a few days or remove it completely.

I froze mine 1 time & had a very hard time trying to unfreeze them. It took 2 days trying to get it unfrozen that I said never again. For me it was too much trouble as you have the company that wants to check it the same day & you can't get it done quickly.

@Starpolisher - @Diamonds22 is correct. It can be a big inconvenience when you need your credit for something. I wouldn't advise doing it. As long as you monitor your credit through one of the many credit reporting agencies, there should be no reason to freeze your credit.

Eileen in Virginia · ‎08-25-2010

We froze our credit cards after our identities were stolen in 1997. The Secret Service agent told us it was most likely the new Kohl's credit card DH had opened to get a discount or our new Sprint account. At that time, credit reports contained all the information someone would need to open new accounts, change your address on existing accounts (our situation) or apply for a mortgage or car loan. If I remember correctly, after freezing our accounts we could make purchases up to a certain dollar amount, but couldn't open new ones or apply for loans without the password.

After the theft, we closed a lot of credit cards and didn't need to make any large purchases, so freezing our accounts wasn't a problem. We needed to replace our washing machine several years later and had to provide the password to unlock our credit card to finalize the sale. I think we must have removed it years ago because we've opened new credit cards and bought other large appliances without providing a password.

Ainhisg · ‎03-09-2010

We froze our credit after the Equifax fiasco. We did it at all three agencies, and it was easy. I made a copy of the codes that you need to unfreeze the accounts and put the codes in our safety deposit box. My husband was ready to purchase a new vehicle last spring, and we contacted a couple of dealerships to find out what credit bureau they use. Transunion is the one used around here, so we unlocked his Transunion account online and set it to refreeze in two weeks. It was unfrozen in about 15 minutes and froze again when it was supposed to. Easy breezy! Freezing your credit reports is a great way to deter identity theft. No way would I keep mine open.