Experian to Offer Credit Freeze in 50 States

Experian, one of the three major credit bureaus, has announced that it will allow consumers to put a credit freeze on their credit profile regardless of where they’re located nationwide.

Starting November 1, Experian will offer the protective service in all 50 states including the District of Columbia.

Experian will also allow consumers to place a credit freeze on their account via an automated process on its website, a clear advantage to the current by-mail process other bureaus offer.

Equifax plans to offer the service to consumers nationwide as well, but is “still finalizing the operational details,” according to spokesperson David Rubinger.

Two weeks ago, Trans Union announced it had expanded its service to all 50 states, prompting the other two bureaus to take action.

Consumers can currently place a 90-day fraud alert free of charge by contacting any of the three credit bureaus by phone, who in turn must contact the other two to place the alert with all three.

Fraud alerts are intended to prevent criminals from opening new credit accounts in a consumer’s name by contacting them before a new credit line is opened, though they are sometimes ignored.

A credit freeze ensures no new credit is opened because credit bureaus can’t access a consumer’s credit report to determine if they’re a sound borrower.

Before you decide to freeze your credit, learn more about the process, as well as the advantages and disadvantages.

If you’re looking for specific credit freeze information in your state, click here.

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