4 ms·
>"See, according to what I've heard/read, freezing your credit actually negatively impacts your credit score." Do you have a link or some further explanation f
by bogomipz 9y ago
>"See, according to what I've heard/read, freezing your credit actually negatively impacts your credit score."
Do you have a link or some further explanation for this? I don't think this is true. It's actually the opposite - when someone runs your credit which can happen without your knowledge or approval then your credit will get dinged. By freezing it and not allowing anyone but existing creditors to access your profile you prevent this.
Not having enough credit will keep you from obtaining a higher FICO score however. For instance you can have perfect credit but if you have to few credit cards your FICO score will be lower than someone who has perfect credit and has more credit cards. It's insane but true, its a metric called "balance to limit ratio":
http://www.experian.com/blogs/ask-experian/getting-more-credit-cards-to-help-credit-scores/ http://www.experian.com/blogs/ask-experian/getting-more-cred...
- KGIII 9y agoIt looks like I was given bad information, which is surprising. The information came from someone who sits on the board at a local credit union. Citation of my error: https://www.consumer.ftc.gov/articles/0497-credit-freeze-faqs#score https://www.consumer.ftc.gov/articles/0497-credit-freeze-faq... Though, that link is strange in a new and interesting way. The page seems to indicate you can pull your credit score while your account is frozen. Except, if I look at Credit Karma, they say you can't register and access your credit report if your account is frozen. https://help.creditkarma.com/hc/en-us/articles/202041774-I-have-a-security-freeze-on-my-credit-reports-Can-I-still-use-Credit-Karma- https://help.creditkarma.com/hc/en-us/articles/202041774-I-h... It's surprisingly hard to find consistent information. I think this highlights another problem with the system.