You can now freeze your credit report for FREE thanks to a new law that went into effect last Friday. And you can remove the freeze for FREE too. The freeze keeps every creditor from accessing your credit history when someone is applying for new credit in your name or SSN. This will help stop identity thieves in their tracks.
You do have to place the freeze with all 3 credit bureaus separately though. The freeze goes into effect in 1 business day. You can un-freeze your credit report within 1 hour and you have to do this with all 3 credit bureaus too.
With how quick the freeze can be taken off I would recommend that every consumer freeze their credit report and then un-freeze it before applying for new credit, such as for a mortgage or car loan.
The consumer advocacy group U.S. PIRG also recommends people freeze their report at the National Consumer Telecom & Utilities Exchange. This is the firm that telecom companies and utility companies use for credit reporting.
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