A friend of mine has a ministry non-profit. \u00a0A few weeks ago, he asked me to manage the financial accounts for the ministry and to bring an extra level of accountability. \u00a0I thought it was a great idea and decided to help out. \u00a0The next week we went to the bank to add me to the checking account. \u00a0While in the banker’s office I hear her say, “oh no…”. \u00a0She wnet on to say that there was something wrong with my credit!!<\/p>\n
After calming down and listening, we determined that the reason she was having trouble was because my credit was frozen. \u00a0It was that day that I learned freezing your credit really works and prevents others from assuming your credit identity. \u00a0You can do the same thing.<\/p>\n
It is simple – you sign up to have your credit frozen and no one can penetrate your credit. \u00a0The exception is any company that you currently have credit with. \u00a0Others, if you are buying new furniture, a new car, or just trying to shoot yourself by getting a new credit card – can not get to your credit history.<\/p>\n
There is a cost to freeze your credit and an additional cost to “thaw” your credit. \u00a0In my state it is $3 for each credit bureau. \u00a0That is $3 for each person and in my case that was me and my spouse – $18.<\/p>\n
When I learned the bank needed to see my credit report, I went back to my office and unlocked (thawed) my credit using the special code the credut bureaus sent me when I signed up. \u00a0The charge, another $3, was insignificant to the harm an indentoy tehif could cause you.<\/p>\n
The credit freeze can also protect you in another way. \u00a0Suppose you are on your way from church to home and you just want to stop and “look” at the new cars. \u00a0Having your credit frozen may protect your from signing up for something that you really do not need and gives your the opportunity to to think about what you are agreeing to pay over time (more debt).<\/p>\n
Is your credit frozen yet?<\/p>\n","protected":false},"excerpt":{"rendered":"
A friend of mine has a ministry non-profit. \u00a0A few weeks ago, he asked me to manage the financial accounts for the ministry and to bring an extra level of accountability. \u00a0I thought it was a great idea and decided to help out. \u00a0The next week we went to the bank to add me to […]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21,4,24,10,1],"tags":[],"class_list":["post-740","post","type-post","status-publish","format-standard","hentry","category-credit-cards","category-debt","category-education","category-personal","category-uncategorized"],"yoast_head":"\n