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  1. Can I get security, convenience AND affordability by freezing my Experian and TransUnion credit files, and using only Equifax Lock & Alert when I want to apply for credit? In other words, will creditors accept seeing a credit report from only one credit reporting agency? On the other hand, since a credit check isn’t run every time you buy something with a credit card (as opposed to APPLY for a credit card), maybe credit checks are infrequent enough that you should just freeze all 3 credit files, and temporarily unfreeze them only when a credit check is required? ************************ I’m basing this question on my understanding of how this all works. But I’m new to this, so please correct me if I got any of the following wrong, or it is not current: Credit locks and freezes: • Block all access to your credit file, except for your existing creditors (and their debt collectors), government agencies authorized by the courts, and anyone authorized by you. • Must be placed or lifted separately for each of the 3 credit reporting agencies. Credit freeze: • Reporting agencies legally bound to guard credit files: YES • Cost: usually $5 or $10 to place, may be a similar fee to lift • Speed to place or lift: usually 1-2 days; may take up to 3 business days • Requires PIN: YES Credit block: • Reporting agencies legally bound to guard credit files: NO • You may have to agree to arbitration in disputes • Cost: • Equifax Lock & Alert: free for life • Experian CreditLock: $25 a month • TransUnion Credit Lock: $20 a month • Speed to place or lift: immediate (from phone app) • Requires PIN: NO Also, I understand that LifeLock has been successfully sued for $100 million for not securing consumers’ financial data, and for false advertising, so I don’t see them as having any place in securing one’s credit files. Thanks for any help.
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