Freeze credit report?

[JoeP]

Anyone here freeze their credit report? Please confirm that it needs to be done on all 3 credit reporting agencies.

Looking at Experian's site, it says the following (emphasis mine):

The security freeze is designed to prevent credit, loans, and services from being approved in your name without your consent. However, you should be aware that using a security freeze to take control over who gets access to the personal and financial information in your credit report may delay, interfere with, or prohibit the timely approval of any subsequent request or application you make regarding a new loan, credit, mortgage, government services or payments, insurance, rental housing, employment, investment, license, cellular phone, utilities, digital signature, internet credit card transaction, or other services, including an extension of credit at point of sale

We do make several online purchases using our credit card, so I have to wonder if the freeze will prevent future purchases.

Any other risks or other considerations? We're looking at this as a preventative measure to help prevent identity theft.

Thanks.

[txmom842]

No, you will be able to purchase via online with your credit cards all day long. The only trouble that I have run into because of freezing my reports is dealing with new insurance contracts (I am a licensed life agent). And even that is simple to deal with--you just go to the respective bureaus online site and put a temporary lift of the freeze, 1 day, or a week--you name it. There is a $10 fee each time though, but at least I can sleep at night knowing that my info is safe. Hope this helps.

[krantcents]

Anyone here freeze their credit report? Please confirm that it needs to be done on all 3 credit reporting agencies.

Looking at Experian's site, it says the following (emphasis mine):

We do make several online purchases using our credit card, so I have to wonder if the freeze will prevent future purchases.

Any other risks or other considerations? We're looking at this as a preventative measure to help prevent identity theft.

Thanks.

I had a close call years ago with identity theft. As a precaution, I froze my credit reports for 6 months. It did not interfere with my everyday use of the card. The credit agencies are supposed to contact you if they receive an inquiry.

[snafu]

txmom: why are you fearful of your information staying safe? Was there a particular incident?

[~bs]

credit freeze just locks everything until the customer authorizes access (temporary thaw). You can still utilize everything you normally do, it just affects it when you try to get new credit lines (or someone else tries). you have to contact all 3 credit bureaus, and it does cost a nominal fee every time you decide to freeze and unfreeze yoru card. And all this freezing and unfreezing (temporary and otherwise) costs money.

Generally not something you do unless there's a specific reason for it, like you had identity stolen or information stolen in the past especially if you're setting up new accounts or changing jobs or renting a new place, as you are going to block the credit pulls.

Look at it this way, is attaching 4 wheel boots to your car tires every time you step out of it going to make it a lot harder for thieves to steal your vehicle? Yes. But is it going to be worth the hassle to unlock the wheel boots every time you need to use the car?