Transunion freeze account georgia9/14/2023 You have the right to lift the freeze as needed, before applying for credit or giving anyone else permission to check your credit report or score. That’s a good thing if a crook is trying to access your credit.ĭepending on credit bureau policy, your credit file may also be inaccessible to others who use it in their decision-making process, such as insurance companies, landlords, employers who need to do a background check, cell phone companies and utilities. This usually means the credit request will be denied. If you are creditworthy, it means you are someone the business wants to lend money to.Ĭreditors who are denied access to an applicant’s credit file can’t evaluate the borrower’s credit history. The creditor uses this information to determine if the applicant is creditworthy. These businesses compile information about your credit accounts and payment history from businesses that have lent you money. In the typical credit application process, a creditor will request the applicant’s credit report or credit score from one of the nation’s three major credit reporting agencies (also known as credit bureaus): Equifax, Experian and TransUnion. This means that new credit cannot be established in your name until you lift the “security freeze.” What is a security freeze?Ī security freeze prevents anyone from opening new credit accounts in your name by making your credit file off-limits to prospective creditors-and crooks. To avoid ID theft, you must take steps to protect yourself. When their crime is discovered, the crooks move on, leaving their victims to deal with the fraudulent debts. In many cases, they open new credit accounts in someone else’s name. ID theft is a growing crime in which thieves use stolen personal information, such as a Social Security number, to impersonate their victims. consumers become victims of identity theft.
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