events that require unfreezing credit

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dual
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events that require unfreezing credit

Post by dual »

Freezing credit with the three credit bureaus is often suggested here on Bogleheads. Obviously, unfreezing is required to apply for a loan or open a new credit card. What are other events that require you to unfreeze credit? I'm trying to learn what the hassle factor is for frozen credit.
vabeek
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Re: events that require unfreezing credit

Post by vabeek »

I had to temporarily "unfreeze" credit as part of a landlords credit check for a college rental I cosigned with my son. They made it easy to be temporary with one click enabling "refreeze" after a chosen date.
delamer
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Re: events that require unfreezing credit

Post by delamer »

It makes me 15 minutes to unfreeze credit (temporarily) for both me and my spouse at all three credit bureaus (2 unfreezes at each bureau).
One thing that humbles me deeply is to see that human genius has its limits while human stupidity does not. - Alexandre Dumas, fils
Blake7
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Re: events that require unfreezing credit

Post by Blake7 »

You may have to unfreeze for some services that use credit files to verify your identity, as opposed to applying for credit. FWIW, dealing with Equifax can be a real pain. The issues are widely discussed on the Internet and this forum. They are completely broken since the 2017 breach in my experience.
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pahkcah
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Re: events that require unfreezing credit

Post by pahkcah »

Buying/leasing a vehicle. Always ask which credit bureau will be checked, and only unfreeze that one.
furwut
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Re: events that require unfreezing credit

Post by furwut »

To setup an IRS account for obtaining an annual Identity Protection PIN.
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SmileyFace
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Re: events that require unfreezing credit

Post by SmileyFace »

It's a five minute process to temp unfreeze while it can take years to unravel identity theft.
I don't want someone pulling my credit without my knowledge in any case so like having the check in place. Credit cards, loans, some bank account types are the only times I ever need to temp unfreeze.
vshun
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Re: events that require unfreezing credit

Post by vshun »

I have been thinking that shopping for car insurance might require unfreezing credit as it was noted many of them base their premiums on ones credit score, so for most here their credit score would be an advantage vs "Unavailable" bucket in premium risk assessment.
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SmileyFace
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Re: events that require unfreezing credit

Post by SmileyFace »

pahkcah wrote: Tue Apr 13, 2021 4:32 pm Buying/leasing a vehicle. Always ask which credit bureau will be checked, and only unfreeze that one.
In my experience there is no credit check unless you are taking a loan (or lease which is a loan of sorts).
furwut
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Re: events that require unfreezing credit

Post by furwut »

dual wrote: Tue Apr 13, 2021 2:58 pm I'm trying to learn what the hassle factor is for frozen credit.
Unfreezing is easy. Recovering from identity theft is not, so I hear.
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dual
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Re: events that require unfreezing credit

Post by dual »

furwut wrote: Tue Apr 13, 2021 4:35 pm
dual wrote: Tue Apr 13, 2021 2:58 pm I'm trying to learn what the hassle factor is for frozen credit.
Unfreezing is easy. Recovering from identity theft is not, so I hear.
I agree and I will freeze. But I'm looking for gotchas and situations where I should unfreeze.
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dual
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Re: events that require unfreezing credit

Post by dual »

Blake7 wrote: Tue Apr 13, 2021 4:28 pm FWIW, dealing with Equifax can be a real pain. The issues are widely discussed on the Internet and this forum. They are completely broken since the 2017 breach in my experience.
suggestions for dealing with them?

edit. and the other credit bureaus?
Nicolas
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Re: events that require unfreezing credit

Post by Nicolas »

I applied for a checking account with US Bank and was denied because my credit was locked. I wasn’t aware that my credit would be checked to open a bank account. I had only unlocked Chex Systems as I knew that was always checked when applying for a bank account.
Nicolas
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Re: events that require unfreezing credit

Post by Nicolas »

dual wrote: Tue Apr 13, 2021 4:43 pm
Blake7 wrote: Tue Apr 13, 2021 4:28 pm FWIW, dealing with Equifax can be a real pain. The issues are widely discussed on the Internet and this forum. They are completely broken since the 2017 breach in my experience.
suggestions for dealing with them?

edit. and the other credit bureaus?
Copying get_g0ing from a previous thread: viewtopic.php?f=2&t=291175&p=5589059&hi ... k#p5589059

“... a work around is through https://lockandalert.equifax.com which is for credit locks (myEquifax is for credit freezes). I was able to make an account with the same information. I noticed that the account creation screen was identical to myEquifax with identical information fields.
It had the option to unfreeze and replace it with credit lock using my PIN, which I did. I basically wanted the ability to freeze/unfreeze (or lock/unlock) online easily, so this works for me (I know freeze and lock are not exact same, but serves my purpose).”

I followed this advice after being unable to login to my Equifax account. Instead of sending in my sensitive documents which would’ve taken maybe weeks and opened me up to possible identity theft I had an instant solution! I advise you to do likewise.
Last edited by Nicolas on Tue Apr 13, 2021 4:59 pm, edited 1 time in total.
UpperNwGuy
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Re: events that require unfreezing credit

Post by UpperNwGuy »

When you submit the paperwork for the background investigation leading to a government security clearance, they ask you to give them permission to check your credit reports.
JediMisty
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Re: events that require unfreezing credit

Post by JediMisty »

I lost my password on the social security wesite. Was advised I could wait 4-6 weeks for password, or she would delete my account, then reinstate it. I didn't know that it couldn't be started since my credit was frozen. I must go in person to restart my on line SS account. Luckily, I don't need to apply for SS, since the offices were closed. I've got the PIN to unfreeze somewhere....
diy60
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Re: events that require unfreezing credit

Post by diy60 »

furwut wrote: Tue Apr 13, 2021 4:35 pm
dual wrote: Tue Apr 13, 2021 2:58 pm I'm trying to learn what the hassle factor is for frozen credit.
Unfreezing is easy. Recovering from identity theft is not, so I hear.
Unfreezing at Transunion and Experian are easy for me; I have never been successful in unfreezing at Equifax. I froze my credit 7 years back when I had to submit police reports regarding the theft of my identity. Equifax had some clunky system I had to navigate, but I have been unable to unfreeze Equifax and don't have the patience to deal with them any further. I just don't bother unfreezing anymore. If I sign up for an online account (e.g. a gov account), I just let the verification fail and wait for the PIN to arrive in the mail.
SimplicityNow
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Re: events that require unfreezing credit

Post by SimplicityNow »

vshun wrote: Tue Apr 13, 2021 4:33 pm I have been thinking that shopping for car insurance might require unfreezing credit as it was noted many of them base their premiums on ones credit score, so for most here their credit score would be an advantage vs "Unavailable" bucket in premium risk assessment.
That has been my experience.
GG1273
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Re: events that require unfreezing credit

Post by GG1273 »

pahkcah wrote: Tue Apr 13, 2021 4:32 pm Buying/leasing a vehicle. Always ask which credit bureau will be checked, and only unfreeze that one.
+1
the only downside to this is when they check you out but don't believe the #
Happened to us and asked us to unfreeze all three
Sales guy said "we don't see Unicorns often so we have to triple check"
DIFAR31
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Re: events that require unfreezing credit

Post by DIFAR31 »

diy60 wrote: Tue Apr 13, 2021 5:11 pm
furwut wrote: Tue Apr 13, 2021 4:35 pm
dual wrote: Tue Apr 13, 2021 2:58 pm I'm trying to learn what the hassle factor is for frozen credit.
Unfreezing is easy. Recovering from identity theft is not, so I hear.
Unfreezing at Transunion and Experian are easy for me; I have never been successful in unfreezing at Equifax. I froze my credit 7 years back when I had to submit police reports regarding the theft of my identity. Equifax had some clunky system I had to navigate, but I have been unable to unfreeze Equifax and don't have the patience to deal with them any further. I just don't bother unfreezing anymore. If I sign up for an online account (e.g. a gov account), I just let the verification fail and wait for the PIN to arrive in the mail.
Same here. I was recently instructed to temporarily unfreeze at all three reporting agencies as part of a financial transaction process. Transunion and Experian were easy; Equifax now requires establishing an online "account" with them to unfreeze as opposed to the previous and much easier PIN system that used to be in place. I refused to do that and informed the person on the other side of the transaction -- "if you need me to comply with anything that Equifax is telling me to do, we are done." Fortunately, the transaction was able to move forward without any information from Equifax.
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pahkcah
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Re: events that require unfreezing credit

Post by pahkcah »

SmileyFace wrote: Tue Apr 13, 2021 4:35 pm
pahkcah wrote: Tue Apr 13, 2021 4:32 pm Buying/leasing a vehicle. Always ask which credit bureau will be checked, and only unfreeze that one.
In my experience there is no credit check unless you are taking a loan (or lease which is a loan of sorts).
I can only speak for buying via a loan and leasing. Even though we always have enough cash to buy outright, DW refuses to do so. I never argue for the fear that I might wind up sleeping in the garage. :beer
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Soul.in.Progress
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Re: events that require unfreezing credit

Post by Soul.in.Progress »

IIRC, we had to unfreeze credit for starting a new cell phone plan. But I think there was a promo deal we utilized that caused this. We really wanted to just pay for the phone all at once, but the math on the promo deal saved a non trivial amount, so we opted to do the promo. It was several years ago so I don’t remember the details other than we had to unfreeze credit.
Start by doing what is necessary; | then do what is possible; | and suddenly you are doing the impossible. | -- Francis of Assisi
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