Credit Freeze

[tompalm]

I was watching Clark Howard yesterday http://www.clarkhoward.com/ and he talked about credit freeze. http://www.clarkhoward.com/news/personal-finance-credit/credit-freeze-and-thaw-guide/nFbL/

It seems like a good idea for me. We don't plan to buy another house or request credit for anything, so why not freeze our credit. This will prevent someone from opening a credit card using our SS # and it will prevent Identity Theft. Does anyone know a reason why we should not do this?

 

[dougp26364]

I was watching Clark Howard yesterday http://www.clarkhoward.com/ and he talked about credit freeze. http://www.clarkhoward.com/news/personal-finance-credit/credit-freeze-and-thaw-guide/nFbL/

It seems like a good idea for me. We don't plan to buy another house or request credit for anything, so why not freeze our credit. This will prevent someone from opening a credit card using our SS # and it will prevent Identity Theft. Does anyone know a reason why we should not do this?

Sometimes, when you make a change to something like car insurance, cable provider or cell phone provider, they'll run credit check. If there's a freeze on your credit you could get bumped into a higher risk catagory. There was an article on The Consumerist website a few days back about a guy having issues with a cable provider who checked his credit after they told him they wouldn't be, then he was stuck as a high risk customer (whatever that meant).

 

[KCI]

A credit freeze is an excellent idea IF YOU DON"T PLAN TO GET ANY NEW CREDIT SOON.
We have had a credit freeze for a couple years and have not had any problems. Credit freezes are dictated by state law, so each is a little diffenent, so before you open one check out your states requirements. Most of the credit agencies charge a fee to open or close a freeze but again this varies by state. If you decide to open a freeze you will have to do it with each credit agency separately. You don't just tell one and they tell the others. To open a freeze you will have to come up with a personal ID number and password. Keep a good record of these because you will need them to make any changes later on.
Be advised that getting a copy of your own credit report becomes more difficult, but can be done in writing. We have never had any problems with normal use of our credit cards.
KCI's Wingman

 

[tompalm]

Thanks, I put it on and feel better about doing it.