Author Topic: On the topic of credit bureaus charging fees to freeze/unfreeze credit...  (Read 1157 times)

Sojourner

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I'm unclear whether it's now law that this will be free.

Related sources:
https://www.congress.gov/bill/115th-congress/senate-bill/2155?q=%7B%22search%22%3A%5B%22S2155%22%5D%7D&r=1

https://www.cnbc.com/2018/03/08/senate-banking-bill-would-make-credit-freezes-free.html

If so, when does this go into effect?  Any insight?

If so, should help me CC hacking campaign.
« Last Edit: June 08, 2018, 06:19:27 PM by Sojourner »

BTDretire

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 What section relates to that?
 But, I'm all for making it free to the freezie/unfreezie,
It sucks that they can't control my information that they make money on,
but I have to pay them to help secure it.
One thing I learned, find out what company your creditor uses and only unfreeze that one.
I paid $30 and then figured that out.

Sojourner

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First I heard Clark Howard mention it briefly on a podcast.  Then I read this article:
https://www.cnbc.com/2018/03/08/senate-banking-bill-would-make-credit-freezes-free.html

Then I went to the .gov site to see that apparently the bill had soon after become law.

I'll scan through it for relevant section.

One thing I learned, find out what company your creditor uses and only unfreeze that one.
I paid $30 and then figured that out.

Yep.  With Chase, for example, they usually use Experian, but sometimes Transunion.  But in my state it still costs $10 per bureau for a temporary unfreeze.  If they happen to use Transunion in that one instance, then another unfreeze is reqd, so another $10.  Just kind of ridiculous having to shoot in the dark like this.

I like the suggestion that credit should be frozen by default, for all.  Unfreezing or temporary unfreezing should be the option.  It should be as easy as toggling it with an app switch.  And it should always be free.

Sojourner

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What section relates to that?

TITLE III
(attached an excerpt)

Now trying to figure out how long the credit bureaus have to comply.  If someone knows, please chime in.

Nate79

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It will be free after Sept 20th. Here is the Bogleheads wiki on the topic:
https://www.bogleheads.org/wiki/Credit_freeze

And this thread:
https://www.bogleheads.org/forum/viewtopic.php?f=2&t=250228&p=3944349#p3943912

Sent from my SM-G950U using Tapatalk


Sojourner

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And there it is:  20Sept

Thanks!!

BTDretire

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I consider that GREAT news, Huuuuge in fact. ;-)