Beginning Oct. 15, TransUnion, one of the three major credit reporting agencies, will allow consumers in all 50 states to freeze their credit files, while a second agency, Equifax, promised it will make a similar move soon.
The third credit agency, Experian, said it is studying the issue.
Consumers living in states that either don't have credit freezes laws, have laws that aren't in effect yet or limit freezes only to identity theft victims will have the ability to place freezes on their TransUnion credit reports. Victims of identity theft will be able to place, lift ("thaw") and remove the freeze for free while nonvictims will pay $10 each time.
"We're trying to give consumers the opportunity to choose the identity theft fraud solution for their specific circumstances," says Steve Katz, spokesman for TransUnion's Truecredit.com.
The third credit agency, Experian, said it is studying the issue.
Consumers living in states that either don't have credit freezes laws, have laws that aren't in effect yet or limit freezes only to identity theft victims will have the ability to place freezes on their TransUnion credit reports. Victims of identity theft will be able to place, lift ("thaw") and remove the freeze for free while nonvictims will pay $10 each time.
"We're trying to give consumers the opportunity to choose the identity theft fraud solution for their specific circumstances," says Steve Katz, spokesman for TransUnion's Truecredit.com.
