Does anyone here have insight into how credit reporting & freezing works? I track my score using Credit Karma, and they sent me an email today that someone had done a “hard inquiry” on me, a bank that I have never used.
One thing I do know is that I can freeze my credit scores (accounts?) so that no new accounts can be opened in my name. I did that, at all three bureaus, it’s frozen.
But, my question is, if someone is trying to apply for credit as me, is this enough to keep it from happening? Or is it possible that they already extended credit using my info, to a fraud?
The inquiry was today, but obviously before I froze the things. Am I too late?
Edit to add: I have also done a Fraud Alert through one of the bureaus, who says they will share that with the others;
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Apparently, there were red flags on the (online) credit card application in my name, so someone at the issuing bank called me today. I let them know it was definitely fraud, and that I had frozen my credit accounts. And, done the fraud alert.
So, that takes care of my concern that I was not in time to stop the fraudulent card. But, it looks like my SSN is floating around out there somewhere, which is a bummer. I get to keep my good credit scores at least.
I am glad I did the Credit Karma thing, because otherwise I might not have known. Stay safe out there y’all!
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That’s really good to know. Wonderful that they called you.
I should probably freeze mine, but the credit system websites are so horribly bad. If I can even get one out of the three to work at all to give me my report, I celebrate. And I’m a web developer, so I kinda have some idea what they’re dealing with, but they’re just so so bad.
I don’t know why places like Credit Karma and Nerdwallet and others can do so drastically much better than the actual agencies themselves that those sites are pulling data from.
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In case you’re not aware (from usa.gov):
On AnnualCreditReport.com you are entitled to a free annual credit report from each of the three credit reporting agencies. These agencies include Equifax, Experian, and TransUnion.
Due to the COVID-19 pandemic, many people are experiencing financial hardships. To remain in control of your finances, you can get free credit reports every week through December 2023.
Request all three reports at once or one at a time. Learn about other situations when you can request a free credit report.
Also:
Place a Credit Freeze
Contact each credit reporting agency to place a freeze on your credit report. Each agency accepts freeze requests online, by phone, or by postal mail.
Experian
Online: Experian Freeze Center
Phone: 1-888-397-3742
By mail, write to:
Experian Security Freeze
PO Box 9554
Allen, TX 75013
Equifax
Online: Equifax Credit Report Services
Phone: 1-800-685-1111
By mail, write to:
Equifax Information Services LLC
PO Box 105788
Atlanta, GA 30348-5788
TransUnion
Online: TransUnion Credit Freezes
Phone: 1-888-909-8872
By mail, write to:
TransUnion LLC
PO Box 2000
Chester, PA 19016
Innovis
Online: Innovis Freeze Options
Phone: 1-866-712-4546
By mail, write to:
Innovis Consumer Assistance
PO Box 530086
Atlanta, GA 30353-0086
Your credit freeze will go into effect the next business day if you place it online or by phone. If you place the freeze by postal mail, it will be in effect three business days after the credit agency receives your request. A credit freeze does not expire. Unless you lift the credit freeze, it stays in effect.
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I was not familiar with Innovis! Thanks for the great detailed info!
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That was a new one for me too.
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