Why is it so hard for consumers to freeze their own credit? That's a question the senator would prefer we wouldn't have to ask.
I was just doing this today. Absolute f-ing chaos. First, they make a big show of security. (What??) This after I had failed to file a freeze online or by phone, so I had sent a registered letter. I got zero response to the letter, only to find out on calling a month later that you can’t have your account “locked” and have a freeze go into place also. Why not?? And do you think they sent me any notice to this effect. Hell no. This so-called “lock” is something offered by Equifax, usually for a fee (but now free for a year, no doubt the fee will return) that does something like a freeze (apparently) but doesn’t follow any of the legal guidelines of a freeze; so Equifax can define it as they wish. A freeze is permanent, thought free for the moment, so that’s probably why they don’t want you to do it.
Freaking nightmare. Haven’t had any run-ins, yet. Is it too much to ask that we have sane policies for consumers? It’s sad that Warren is one of only a very few people in office working for the masses rather than business.
Keep in mind: For every piece of junk mail you get for a “pre-approved” card or loan, that bank does a credit check on you. They pay one of the credit reporting agencies for that information.
Consider how many of these pieces of junk mail go out each year. There’s a HELL of a lot of money there that they ain’t about to give up access to, quietly.
In their opinion, YOUR credit information is THEIR property–their INVENTORY to buy and sell; and it may be a short time before they go to court to prove it and can therefore legally deny you a freeze, or maybe even access to your own credit history.
I froze my credit on the three major credit bureaus 14 years ago. Back then it was free. I’ve never looked back at opting out of the system.
Since then I haven’t received any unsolicited card offers and I don’t have to worry about having my identity stolen. FCK the system…use credit unions.
This is bad:
This is what is in store for us, fight the system now by opting out.