Free Credit Score

Beginning July 21 if you are declined credit or do not receive a lenders best rate for a loan the lender must send you a free copy of the credit report it used to make it's lending decision. For more info see the NYT article.

South Carolina Residents Can Now Get Free Credit Freeze

A security freeze means that your file cannot be shared with potential creditors. A security freeze can help prevent new account identity theft. Most businesses will not open credit accounts without first checking a consumer’s credit history. If your credit files are frozen, even someone who has your name and Social Security number probably would not be able to obtain credit in your name.

Under new rules that went into effect this year South Carolina residents can now place a freeze on their credit reports and temporarily unfreeze those same reports for no charge.

It is a bit cumbersome to start, but may be worth the trouble to protect your identity. To find out the steps required to place a freeze on your reports you can follow this link.

Stopping Credit Card Offers

If you are like me you mailbox must contain at least five pounds of mail from credit card offers every week. Gee, I don't know how they know I'm so broke! They come to me, to my wife, to my college age kids. Everyone it seems but the family dog.

If you want to stop the harassment (or stop the temptation) and save a few thousand trees you can call 888-567-8688 or visit www.optoutprescreen.com. The Direct Marketing Association created these avenues to allow consumers to request removal from marketing lists that use information provided by credit reporting agencies.

You student may still be tempted by easy credit offers. My 19 year old told me he filled out an application at school because he got a free meal at some fast food outlet, but at least its a start. It is also a chance to have a conversation with you young adult about the pitfalls and dangers of credit card usage.

Credit Freeze

Beginning July 1 twenty nine states and the District of Columbia will give consumers a new tool to combat identity theft; residents will be allowed to put a "freeze" or block on access to their credit reports. Without access to credit reports and credit scores businesses will not make credit available, thus locking out potential identity thieves. If you put a freeze on your account and need to apply for credit you can input a PIN number to allow access for legitimate inquiries.

You can find a list of the states that are working to protect your identity here. For the rest of us we need to be asking our legislators when we can have access to this useful tool too.

photo courtesy of Belin at mourgefile.com