By Officer Larry Jacobs
Credit freezes are among the tools consumers can use against economic identity theft.
A credit freeze lets you seal your credit reports and use a personal identification number (PIN) that only you know and can use to temporarily “thaw” your account so that legitimate applications for credit and services can be processed. According to consumer advocate and radio personality Clark Howard, that added layer of security means that thieves can’t establish new credit in your name, even if they are able to obtain your identification information.
Freezes have been available for free to victims of identity theft for some years, but recently all three of the major credit bureaus – Equifax, Experian and Trans Union – adopted new rules allowing people who aren’t victims to freeze their accounts for a small fee.
For Georgia residents, the cost is $3 per credit bureau per freeze. It’s free for consumers aged 65 and older and free for victims of identity theft who have a valid police report of the crime. The cost to “thaw” your reports for one creditor — or for a specific period of time — ranges from free to $10.
When shouldn’t you freeze your credit? According to Howard, you should avoid freezing your credit if your credit reports are accessed often for work or because you create new accounts with various financial institutions on a regular basis. The costs to continually “thaw” reports would mount up.
Here, thanks to Howard and others, are some directions and links to assist you in obtaining your credit freeze or thaw from each bureau.
EQUIFAX
• Credit freezes may be done online or by certified mail – return receipt requested.
• Check your state’s listing for the exact cost of your credit freeze and to see if there is a reduction in cost if you are a senior citizen.
• Request your credit freeze by certified mail using the sample letter found by clicking on the link below. Please note the attachments you must include.
• If your PIN is late arriving, call 1-888-298-0045. They will ask you for some ID and arrange for your PIN to be sent to you in four to seven days.
EXPERIAN
• Credit freezes may be done online or by certified mail – return receipt requested.
• Check your state’s listing for the exact cost of your credit freeze and to see if there is a reduction in cost if you are a senior citizen.
• Request your credit freeze by certified mail using the sample letter found by clicking on the link below. Please note the attachments you must include.
• You can also freeze a child’s credit report. The information contained at the link below is applicable for all three credit bureaus. You must first write a letter to each bureau to learn if your minor child has a credit report and if so, then you can proceed to freeze it.
TRANSUNION
• Credit freezes may be done online, by phone or by certified mail – return receipt requested. (Some users have reported difficulty with the online method. Please try one of the other options if you have trouble, too.)
• Check your state’s listing for the exact cost of your credit freeze and to see if there is a reduction in cost if you are a senior citizen.
• Request your credit freeze by certified mail using the sample letter found by clicking on the link below. Please note the attachments you must include.
The link to Howard’s original article can be found at: http://www.clarkhoward.com/news/clark-howard/personal-finance-credit/credit-freeze-and-thaw-guide/nFbL/.
Officer Larry Jacobs is a crime prevention specialist with the Crime Prevention Unit of the Sandy Springs Police Department. He can be reached at lJacobs@sandyspringag.gov