Last September was Equifax’s credit breach which affected 148 Million consumers. The solution or aid to this revelation was to extend a freeze to each consumer for a small fee. As if the breach wasn’t enough depending on where one lived they had to pay a $3-$10 fees to freeze and another to lift the freeze of your credit.
As of Friday, September 21, 2018, freezing your credit report is free! What’s even better is that once you freeze it with one credit bureau, it will automatically freeze all three. Freezing your credit report essentially prevents lenders from running your credit if a criminal were to try and open a credit card. The decision to waive this fee came when legislation was passed this May 8 months after the breach.
Links to freeze your credit report:
If you are in the market to purchase a home within the coming year and want to know more about how your credit will affect your mortgage call Martino Realty (718) 608-9400.