Security Freezes Now Available Nationwide

November, 14, 2007

According to Privacy Rights Clearing House, beginning this month, the three credit bureaus -- Equifax, Experian and TransUnion – are providing security freezes nationwide. A security freeze is stronger and more effective than placing a fraud alert on your credit score, because it prevents anyone from accessing your credit file for any reason unless you instruct the credit bureaus to unfreeze your report.

Most businesses will not issue credit without first reviewing the applicant’s credit score or credit score. If an individual’s credit score is frozen and a fraudster applies for credit  in that individual's name, a creditor would deny the application, preventing an instance of identity theft.

The procedures and costs for placing a security freeze vary from state to state (in some states, security freezes are free for identity theft victims).  Non-victims who want to activate the security freeze must pay a fee in most states. When applying for credit, the consumer can lift the freeze so that legitimate applications for credit or services can be processed.

For state-by-state information on security freezes, visit the Consumers Union Web page: http://www.consumersunion.org/campaigns/learn_more/003484indiv.html 

To learn more about protecting your identity, please read Six Steps To Electronic ID Theft Prevention

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