There’s been a lot of talk the past week about a change that’s coming to credit reporting bureaus in regard to freezing your credit files. That change allows an individual to freeze his/her credit files free of charge. The change will likely take place in September.
“Unfortunately, you will still have to contact each of the bureaus – Equifax, Experian and TransUnion, so it can be time consuming, but soon you will not have to pay any of the bureaus a fee, it will be free,” said CSLEA Foundation Chair Kenny Ehrman. “It will also be free to unfreeze your files.”
Freezing your credit files can be a great security move, but you will have to unfreeze your files when applying for credit.
For information about credit freezes, we suggest you read the Federal Trade Commission’s “Credit Freeze FAQs”