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2007-12-19 14:24:43 · 4 answers · asked by Anonymous in Business & Finance Credit

if you do a credit freeze through 1 of the 3 credit reporting agencies.

2007-12-19 14:39:42 · update #1

4 answers

If you are considering putting a freeze on your credit file, no one will be able to pull a credit report on you -- not credit card companies, other loans, insurance companies, potential employers, etc.

You have to remove the freeze to allow folks access to your credit report. I believe there is a charge to remove and restore the freeze. The credit bureaus don't recommend freezing your credit file unless you have been exposed to identity theft problems.

2007-12-19 15:56:55 · answer #1 · answered by bdancer222 7 · 1 0

It depends on if they look at your credit score before issuing You a credit card. Not all credit card companies look at the credit score before issuing a card.

A credit freeze doesn't do much good if you only do it on one of the three credit reporting agencies.

2007-12-19 15:57:50 · answer #2 · answered by heybulldog 5 · 0 0

A credit freeze usually indicates that you are at the limit of what the card or bank feel you can pay. This would include loans. So if you pay on time and get back where you have room to use the card the freeze is usually fluid. Example: Card limit =$1,000. ;You spent $ 1,000. Limit full. You pay $500. You have room to spend $ 500.

2007-12-19 14:36:57 · answer #3 · answered by googie 7 · 0 2

A credit freeze says you may not increase your total indebtedness. That does not imply that you can not negotiate different terms, as in a loan instead of a credit card.

However, when a credit freeze is imposed often a creditor will not simply prevent you from increasing your debt, but may require a significant reduction of your debt before you can use any credit. That often occurs when the creditor discovers that your ability to repay has declined.. a loss of income or a court assignment of income for example.

2007-12-19 14:53:13 · answer #4 · answered by donfletcheryh 7 · 0 2

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