Equifax Data Breach: What are the cons of a credit freeze?

There is a smarter way to approach equifax data breach cons, and it starts with knowing a few key details. This guide covers them, along with tips you can apply immediately.

Key Takeaways

• As consumers learn more about the Equifax data breach, they have more questions about their potential exposure to identity fraud.
• Money expert Clark Howard says the No.
• Worth noting: 1 method to protect yourself from identity fraud is by freezing your credit.
• This will prevent anyone from opening a new line of credit in your name.

A Closer Look at Equifax Data Breach Cons

The Atlanta-based credit reporting agency recently announced that as numerous as 143 million people may be at risk after “criminals” exploited a website vulnerability and accessed files earlier this year. Equifax, one of three main cogs in the U.S. lending industry, waited six weeks to tell the public, leading to outrage and calls for class-action lawsuits.

But what are the cons of freezing your credit? Does freezing your credit have any drawbacks?

What to Know About Equifax Data Breach Cons

More importantly, one of the main drawbacks to freezing your credit is that it paralyzes your ability to obtain new credit. If you’re in the market for a new vehicle, home or even trying to get another credit card, the credit bureaus will stop the inquiring company from assessing your credit since of the freeze.

This may throw a serious wrench in your ability to purchase large-ticket items that you require to finance and could delay major life events like purchasing a home or car. The only method to get near this is to thaw , unfreeze , your credit, which leaves you temporarily exposed, albeit maybe with a new car or home.

How Equifax Data Breach Cons Really Works

Remember that before applying for more credit, it’s a solid concept to reach out to the lender and ask them when the best time to thaw your credit would be. EST with volunteers available to answer YOUR concerns!

Call Team Clark @ 404-892-8227.

Frequently Asked Questions

How can I save money on equifax data breach cons?

Compare prices across a few retailers, look for active coupon codes, and time bigger buys around sales events. Equifax, one of three main cogs in the U.S. lending industry, waited six weeks to tell the public, leading to outrage and calls for class-action lawsuits.

Is it worth shopping around for equifax data breach cons?

Usually yes. But what are the cons of freezing your credit?.

What should I check before buying?

Read the terms, confirm any code still works, and factor in shipping or returns. Does freezing your credit have any drawbacks?.

Smart Ways to Save More on Equifax Data Breach Cons

• Check for student, military, or first order offers you may qualify for.
• Time non urgent purchases around major sale events for the deepest cuts.
• Leave items in your cart for a day; some stores send a follow up discount.
• Pair cashback with a coupon so you save twice on the same order.
• Stack a coupon code with an existing sale whenever the store allows it.

Final Thoughts

Put these ideas to work and equifax data breach cons gets a lot less expensive. Bookmark this page, check back for fresh deals, and let the savings do the talking.

Originally published at clark.com.