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Fraudulent Charges and Credit Freezing Question

June 13th, 2018 at 08:45 pm

I think we are starting to see the first bit of fall out from the Equifax breach. Today someone tried to use our Master Card. This was always a card we rarely used, but we have not used in 2 months for sure. And it was for some service called NEVERBOUNCE, that cleans up email list servers or something like that. Not something we would ever sign up for. They tried to charge it three times.

Fortunately BOA was on the ball and temporarily froze the account. I had to fill out the fraud form, which is really easy online. Then they will likely be calling DH to confirm what I did online.

Tonight we are going to cancel the Master Card. Since we will be eliminating all but one card until I can figure out how to do everything through debit cards, auto bank deductions, and paypal, we might as well get started with this one. No more dragging our heels.

I know a couple of you have been through some identity theft issues before. If I freeze my credit through the three reporting agencies will that prevent me from using my card at all, or just prevent anyone from opening up a new credit card account or loan?

We won't be taking out new cards or any kind of loan until we are ready to buy a house again and need a mortgage. That is a few years down the road, so freezing our reports won't affect anything in that regard. Then when we are ready to apply for a mortgage we will unfreeze them.

Posted in Bringing Down the Evil Empire, When Life Happens | 2 Comments »

2 Responses to “Fraudulent Charges and Credit Freezing Question”

  1. PatientSaver Says:
    June 14th, 2018 at 12:43 am 1528937010
    1528937010

    If you freeze your credit, you can continue to use your credit cards as you always have. It just prevents any prospective new lenders, whether for a mortgage, credit card or any other type of loan, check your credit, and it would also prevent a would-be ID thief from trying to hijack your credit to open fraudulent accounts.

    I froze my credit with all 3 agencies shortly after the Equifax breach. I don't think it will be an issue when a current creditor, like my homeowners/car insurance company, wants to check my credit before renewing my policy. Some states will charge a small amount if you need to temporarily reopen your account when applying for credit/a loan.

  2. rob62521 Says:
    June 15th, 2018 at 07:46 pm 1529092007
    1529092007

    Like PS said, you can continue using the cards you have, just can't open new ones. We also froze our credit right after the breach. Our state just passed a bill saying they cannot charge us for freezing or thawing our accounts which is good, because I did have to pay for one of the agencies to freeze our accounts.

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