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Have you frozen your credit yet? It's now FREE by law!
Starting Friday, a new federal law allows people to freeze and unfreeze their credit at the three major credit bureaus without being charged. Before, it cost consumers in almost half the states $3 to $12 per bureau to freeze or unfreeze their credit reports.
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The new law also extends how long a fraud alert remains on your credit reports from 90 days to one year. Less severe than a freeze, fraud alerts tell lenders that your personal data may have been compromised and to take extra steps to verify your identity before approving new credit.
Existing alerts on Experian reports will automatically be extended, according to Rod Griffin, director of consumer education and advocacy at Experian.
<snip>
The new law also extends how long a fraud alert remains on your credit reports from 90 days to one year. Less severe than a freeze, fraud alerts tell lenders that your personal data may have been compromised and to take extra steps to verify your identity before approving new credit.
Existing alerts on Experian reports will automatically be extended, according to Rod Griffin, director of consumer education and advocacy at Experian.
ETA: Don't forget about Innovis - the fourth, and somewhat unknown - credit reporting agency. It is used in enough instances to make a freeze with them worthwhile also.
