-
Is The Experian App Worth It Or Should I Cancel?
I’m using the Experian app to lock and unlock my credit when I need to, like when applying for a credit card, or if I suspect identity theft.
A friend’s experience with identity theft made me worried, especially considering the costs they had to cover to resolve it.
The monthly fee for the Experian app is quite high.
Do you think it’s a worthwhile investment?
Are there other ways to lock and unlock your credit as needed?
-
4 Replies
-
It’s free to lock it with the credit agencies, but you get some other benefits from some of the other services like LifeLock, like identify theft insurance.
Better yet Ratuken sometimes has 95% off on it, so it’s a great way to turn cash into Membership Rewards, and get it for next to nothing anyways.
-
I regularly freeze and unfreeze my credit report.
I keep all three credit reports frozen until the day I’m applying for a new credit card.
Once the card is approved, I freeze them all again.
It only takes me less than 10 minutes to do it online.
-
I just looked into this last week. Locking credit and freezing credit are two different things.
Freezing credit doesn’t cost anything, and by law, the credit rating agencies have to provide it.
I set up accounts for Person 1 and Person 2 with Experian, Transunion, and Equifax. I managed to figure out how to access the free freeze on all three websites.
I agree with another comment that Experian makes it more difficult to find the free freeze option compared to their $30 per month lockdown process.
The main difference between locking and unlocking, and freezing and unfreezing, is that the former happens instantly.
Even if the latter takes a day, it’s easy to plan for and doesn’t cost anything.
-
Visit each credit rating agency’s website and choose the option to freeze your credit.
It only takes a few minutes, and there’s no charge.
If you plan to apply for a Chase credit card later on, you’ll have to unfreeze your credit with them.
For credit cards from other banks, you’ll need to unfreeze your credit with all three agencies for a short period of time.
Log in to reply.