Free credit freezes are coming – but similar options are already here

Free credit freezes are coming – but similar options are already here

Credit Cards, Credit Repair, Credit Scores
Americans will get free, fast credit freezes following last week’s enactment of S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act. Most of the law’s 73 pages soften bank regulations that were designed to prevent another financial crisis like the one in 2008. But Section 301 provides an important consumer benefit. Credit freezes block fraudsters from getting a loan in your name by keeping lenders out of your credit file. Currently, freezes are administered under a patchwork of state laws. Credit freezes usually carry a fee of $5 to $10, plus fees for each time they’re lifted, and the process can be cumbersome. The new law requires freezes, when set up electronically, to be placed within one day and removed within an hour of the consumer’s request. The…
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Credit Freezes will Soon Be Free: What it Means and Why it Matters for You

Credit Freezes will Soon Be Free: What it Means and Why it Matters for You

Credit Repair, Credit Scores
August 10, 2018 • 6 min read by David Lord 0 Comments If you’ve ever stepped into the ring with an identity thief, you are probably familiar with a credit freeze. Credit freezes are an incredibly helpful line of defense in protecting your credit, but like everything else that’s good in life, these measures don’t always come free. Luckily, congress is taking steps to change that. Read on to learn about credit freezes, and how government mandates will make them free in the future. Free Credit Consultation - Call 844-346-3296 Repairing Your Credit With Lexington Law Can Help You Save MoneyGet Help Now Privacy Policy What is a Credit Freeze? A credit freeze is a nifty little tool that allows you to block any agency from checking your credit, making…
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How Much Do Americans Actually Know About Credit Scoring?

How Much Do Americans Actually Know About Credit Scoring?

Credit Scores
August 21, 2018 • 10 min read by James Conners Every year, the Consumer Federation of America (CFA) and VantageScore Solutions work together to produce the Annual Credit Score Survey. This survey examines how much Americans actually know about the credit system. With the average credit score reaching a record high of 700 last year, Americans might know a lot more than we think. The survey tested over 1,000 adults on topics related to the overall credit process. These subjects include: frequency of checking credit scores how credit scores are calculated, and best ways to increase your credit score or keep it high The 2018 results showed that on the whole, Americans have increased knowledge and participation in the credit score process compared to previous years. Let’s break down the…
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