Protect your credit with a credit freeze
New legislation has been passed that makes it easier for consumers to protect their credit. In September 2018, the Federal Trade Commission (FTC) passed a law that allows U.S. consumers to freeze their credit quickly and for free. While credit freezing has existed for some time, there was always a charge associated with it.
Now you might be asking, what’s a credit freeze? And how does a credit freeze impact my credit score?
A credit freeze restricts access to your credit file, making it more difficult for identity thieves to open new accounts in your name. If you fear identity theft or data breaches have occurred, then you might want to consider placing a freeze on your credit report.
To put a freeze on your accounts, you’ll need to visit all 3 credit reporting agency websites: www.transunion.com; www.experian.com and www.equifax.com.
A credit freeze does not affect your credit score and does not prevent you from getting your free annual credit report. A freeze also does not keep you from opening a new account, applying for a job, renting an apartment or buying insurance. However, you still must monitor all bank, credit card and insurance statements for fraudulent transactions.
Lifting the freeze so that you can allow creditors access to your profile is also free and can be done over the phone or online. New security measures, such as using a PIN number, are now in place to ensure you can unfreeze your credit more securely.
If you’re interested in freezing your credit, learn more by visiting https://www.consumer.ftc.gov/blog/2018/09/free-credit-freezes-are-here
Contact GRARelocation@grarate.com for more information.