It's finally coming: On October 15th, you'll be able to lock up your credit file and protect yourself from ID theft ...Well, almost.
Equifax has just announced that it will join Trans Union in allowing you to place a freeze on your credit report. This will make it impossible for thieves to open up a new credit card, or take out a loan in your name. Equifax and Trans Union will each charge $10 a year to lock your credit file. This is valid in all 50 states.
Expect to pay another fee fee to temporarily “unlock” it, if you need a loan, or plan to buy a car, for instance.
One big problem in all this: Experian, the 3rd credit bureau, is not offering freezes at this point: Consumers Union says thats like locking your front door but leaving the back door open (From www.wcpo.com).
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