![]() ![]() Here's a final thought: Although lifting a freeze is not difficult, Kristine Snyder of Experian says: ''Freezing can be an extreme step, so we always encourage consumers to think carefully about freezing their credit report if there is another fraud-prevention measure, such as a fraud alert and credit monitoring that might be sufficient protection.'' Īn additional resource is the Federal Trade Commission's ''Credit Freeze FAQs'' at. The freeze will be lifted, and the credit application can be processed.įor more examples and further information, you can watch a video provided by Experian at. You'll also be provided a PIN (personal identification number).If you answer the questions correctly, you will be notified that the security freeze was successfully removed for the period you requested, assuming you requested a temporary lift.Another example is the name of a former employer. A third might be identifying another credit card you use from a multiple-choice list of five. Another might be to identify an old phone number. For example, one question might be to identify your phone number from a list of 5 numbers. Then you'll be asked to fill out another form called ''Identity verification.'' That page gives you four multiple-choice questions that are derived from your credit report.After you enter the information, you'll get this message: ''Please wait while we verify your identity.''.You'll also be asked whether you want a temporary or permanent removal of the freeze. ![]() Fill in a form called ''Remove a security freeze.'' The form will require you to provide identifying information as well as your Social Security number.Click on ''Remove or Lift a Security Freeze.''. ![]() As you will see, it is not a difficult process: Let's take Experian as an example of how to go about lifting a freeze so that Costco can look at your credit to make a decision on whether to issue the card to you. That process will take a few days, so you will either have to return to the store after lifting the freeze or initiate an application knowing that approval will be delayed until after the freeze is lifted. If you now want to apply for a new card, you will have to lift the freeze by contacting Experian, TransUnion or Equifax, the three nationwide credit-reporting companies.Īs Experian says on its website, ''If you are actively seeking credit, you should understand that the procedures involved in lifting a security freeze may slow your own application for credit.'' Suppose you, like my reader, had placed a credit freeze on your account a few years ago due to identity-theft worries. If you recall, Costco switched from offering American Express cards to offering Visa cards recently - that is, Costco no longer honors an American Express card at the cash register.Ĭiti and Costco now offer a cobranded Visa card to customers, who can apply for a card right in the store. Here's the context: Say you are a customer of a major retailer like Costco, and you see that you can apply for a credit card in the store. If you missed the column, go to my archives at or email me for a copy. 4, 2016, column on credit freezes and fraud alerts. Remember that a credit (or security) freeze prevents creditors from accessing your credit report - it's a subject we discussed in my Feb. Last week's column on credit reports led to a question from a reader about credit freezes. ![]()
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