Good news for us Arizonans living in the Identity Theft Capital of the United States. Starting today, Arizona’s new credit security freeze law goes into effect. If consumers take advantage of it, this new law will help curtail the rise in identity thefts in our State.
Arizona’s new law requires that the big three consumer reporting agencies (Equifax, Experian, and TransUnion) allow consumers the opportunity to get a security freeze on their credit files.
Now, it’s not like we didn’t have the ability to freeze our credit reports prior to this law. We had that option since late last year, voluntarily. But, the new law now makes it “mandatory” for the credit reporting agencies to freeze our credit reports when we request it. This new law also standardizes and lowers the fees across the board for adding or lifting a security freeze.
IMO, it’s worth the time and money to protect your assets and prevent a ton of headaches if you become a victim. In order to enact a security freeze effectively, you must contact all three credit bureaus. With the new lower fee structure, it’ll only cost you $5.00 for each agency every time you place, temporarily lift, or remove a security freeze. For victims of validated identity theft, there is no cost.
Consumers Union provides more detailed security freeze information (pdf) or visit each of the credit reporting bureaus for specific requirements.
Comments 1
Well, I just spent the last 30 minutes attempting to enter security freezes though each of the three credit reporting agencies, and thought I would share my experiences.
First of all, all three bureaus will allow you to institute and manage a security freeze online.
I first visited Equifax and it was an easy process. They asked me the usual information such as your Name, Address, DOB, Social Security Number. They accepted my information and asked me to process the $5.00 fee by credit card, and presto, I was given a receipt and a PIN for future use. Very simple!
I next visited Experian where things became a little more difficult. Just like Equifax, I entered my Name, Address, DOB, and Social Security Number. I was then asked to enter my credit card numbers. After I submitted this information, Experian then asked me to further verify some information about myself through a series of multiple-choice questions. I answered the questions correctly, but then the system froze up after I submitted them. After about five minutes, I was then forwarded to their main page and had to start the whole process again.
I re-submitted everything and was asked the same security questions, but in different order. After answering the same questions correctly again I was declined an online security freeze and forwarded to a form page, to print and send in with further identification, by certified mail.
This is not the first time I’ve had problems with Experian. I had the same problems with my online annual credit report and asked them to fix it then. Somehow, their identity verification system is screwed-up, and they don’t seem to care. Bunch of dumb asses.
But, things turned out for the better when I visited TransUnion. They are offering FREE online security freezes. Their process was even easier than Equifax. I was able to conduct an online security freeze by logging-on using my annual credit report name and password. Once I logged-on I was asked to click a button to add a security freeze, and just like that, my freeze was applied… at no cost. I was able to choose a PIN, but unlike Equifax, I wasn’t given a receipt and had to write down my PIN for future reference. No big deal.
So, contrary to what’s being reported, yes, you can institute and manage a security freeze online. However, you may experience unnecessary difficulties instituting a freeze through Experian.
Posted 06 Sep 2008 at 5:10 pm ¶Post a Comment