Personal Credit Thread

[NTP66]

Yeah, honestly, I might do the same just to be safe. She rarely applies for credit for anything, and I'm mostly done churning cards and stuff. Even if it takes an hour to unfreeze them all, in this day and age it might be worth it.

[NTP66]

I also wonder if one of those identity services is worth the cost. Leaning towards no, given that you can do a good deal of stuff for free with certain credit cards, etc.

[dodint]

Yeah, I have a Chase card and get constant updates about my credit despite never asking for that.

[NTP66]

We both have Discover cards that has the SSN monitoring, and like you, I think at least one of my Chase cards has something else.

[NTP66]

Looks like all of my Chase cards have fraud protection/alerts, and ID monitoring.

[mac5155]

Speaking of that like 2.5-3 weeks ago I got a chase fraud alert and they canceled my card. STILL waiting on a new card.

[NTP66]

Really? That's unlike Chase, IME.

[mac5155]

January 18 the email was sent and I replied. Still no card. I actually got irritated because its a Southwest card and I bought flights between now and then. Luckily I used my Sam's mastercard and bought a $500 SWST gift card for $450, and still got the 5% cash back on that. but still.

[NTP66]

I would call them again. When my one Chase card was replaced, they overnighted the replacement card (without me asking).

[NTP66]

Did they ship your replacement card via FedEx?

[mac5155]

honk honk

[NTP66]

Source of the post I default to frozen credit reports.

How many times did you apply for credit before remembering that you froze your reports? I just froze mine, and I'm sure it'll happen at least once.

[dodint]

The lender will send you a note requesting you lift it if that ever happens. I can't recall ever doing it, but I don't open new lines of credit often. I'll generally search and find out which agency they pull from and only lift that one, if possible. I'll leave it unfrozen for a week or so in case I want to shop around.

[NTP66]

Yeah, that was my plan - figure out who the lender uses and unfreeze it for a few days. I haven't opened any lines of credit recently, but you never know. I'd rather unfreeze it beforehand if it's something time-sensitive.

[Troy Loney]

Source of the post I default to frozen credit reports.

How many times did you apply for credit before remembering that you froze your reports? I just froze mine, and I'm sure it'll happen at least once.

Freezing your credit report will not prevent you from getting credit. It just means that there's an alert when your credit gets pulled and the lender has to verify your identify upon applying for credit. Unless we're talking about different things. I am talking about a fraud alert.

[dodint]

Freezing the credit report will block any pulls of the report. I suppose a lender could still open an account in your name but they'd have to do so without your credit history, which is unlikely with reputable lenders.

[NTP66]

What dodint said.

[Troy Loney]

I would suggest using a fraud alert then.

Not sure why you’d feel the need to block someone from pulling your credit like that.

[NTP66]

I'd rather prevent the fraud than get an alert that fraud has happened...?

[dodint]

Proactive versus reactive. Once a fraud alert is triggered the new account is already open. With a freeze, there is no access at all.

I don't spontaneously apply for credit so it's not a big deal for me to log in to the respective portals to unfreeze the accounts. In olden times (2016?) I would have to call someone. Now I just log in to the portal and pick which days I want the report thawed. It literally takes less than 5 minutes.

[Troy Loney]

I'd rather prevent the fraud than get an alert that fraud has happened...?

That's what the fraud alert does though. When you apply for credit, and the lender pulls your credit, they see there is an alert on the report, and they then have to follow ID verification protocols to make sure that it is a valid application.

But, if you don't ever plan on applying for credit, then sure, freeze it.

[tifosi77]

Also, iirc if you are the victim of fraud you have to prove you are the victim of fraud. The false charges (or even things like home title theft) appear legitimate to financial institutions and reporting agencies. So you are on the hook for everything until you can establish that proof.

[NTP66]

So, this makes sense, given that when I clicked on Fraud Alert on one of the sites, it mentioned a police report:

The type of fraud alert most often discussed as an alternative to a credit freeze is an extended fraud alert, or fraud victim statement. Intended for victims of credit fraud or identity theft, an extended fraud alert will stay on your credit report for seven years unless you have it removed sooner. When adding one to your credit report, you must provide a copy of a police report or other valid identity theft report submitted to law enforcement.

[dodint]

My information has been breached several times. Anthem, FedGov gave my entire file to the Chinese and some others that slip my mind now. That's how I got into the freeze behavior and I've enjoyed the benefits. I meant it when I said the pre-approval offers will dry up almost completely. The only thing I get now is stuff from OneMain Financial because I took a small loan out from them in 2010 and they've been trying to get me to come back ever since.

[tifosi77]

The rainy day cc I opened a few months ago had a $10k limit. First billing cycle after putting a $3,000+ hospital charge on it, my limit was reduced to the nearest $100 over my new balance.