![]() Now that a new law requires Experian to allow every parent to freeze their kids’ credit for free, concerned parents are contacting us to report that Experian will no longer allow them to use the online upload function. Experian charged a fee and refused to allow child freezes in other states. At the time, only a few states had laws allowing parents to freeze their kids’ credit. So, we compiled a Step-By-Step Guide to Freeze Your Child’s Credit detailing the safe alternatives. (NOTE: you must freeze your credit individually with all three bureaus and each has a different method.) Experian responded by touting its new secure online upload feature. Ultimately, Transunion & Equifax agreed to allow parents to fax in documents upon request. Unlike a grownup credit freeze, for a child freeze you have to first prove guardianship by submitting sensitive documents (social security card, birth certificate, license, etc).īack in 2016 we reported that the credit bureaus themselves were putting the identities of both parents and children at risk by requiring parents to mail the sensitive documents to a P.O. A Child Credit Freeze is one of the best tools to prevent Child ID Theft and a new federal law now makes them available to every child in the nation. Over 1 million children were reportedly victims of identity theft in 2017 and studies show kids can be 50 times more likely to be victimized than adults. ![]() Credit.Concerned parents say Experian is suddenly making it harder and more risky to freeze your kids’ credit now that a new law requires the bureau to allow free child credit freezes in every state. For a child under the age of 13, you should go directly to Equifax, TransUnion and Experian’s websites to find out what information that you need to mail to them. If over the age of 13, you can check directly (for FREE) at to see if a credit report exists. If you find false or inaccurate information, you’ll have time to correct it before your child applies for a job, a loan for college or a car, or tries to get a credit card or a place to live. So, when should you check your minor’s credit report? From FTC:Ĭhecking to see if your child has a credit history, and then thoroughly reviewing it when they turn 16, can help you spot signs of identity theft. One positive outcome of this Anthem breach is the increased awareness that they probably want to take a closer look. Why? Most parents have not, as a matter of habit, reviewed their minor children’s credit reports since they assume such a report doesn’t exist. The theft of minors’ identities was already quite prevalent even before the Anthem data breach. This raises the question that your students (or their parents) might ask “How can I check my credit report?” The recent data breach at Anthem exposed sensitive information about millions of minors leaving them vulnerable to identity theft. Starting in September, the Economic Growth, Regulatory Relief, and Consumer Protection Act will grant parents safeguards when it comes to their children’s credit. At no cost, parents will be able to check on and freeze credit files bearing their child’s name by using the three major credit reporting bureaus - Equifax, Experian and TransUnion. Updated (9/9/18): Parents will soon be able to both check and freeze credit files under their childrens' names ( AOL.com). These two videos from Two Cents provide details on how young people can establish credit. Equifax Minor Request Form and additional information.TransUnion: Child Identity Theft Inquiry form with additional information.Experian Minor Request Form and additional information.If you want to check to see if a credit report exists, each of the credit bureaus has a minor request form : Unfortunately, the other reason a teen might have a credit report is due to identity theft. ![]() Some, but not all, credit card companies report these authorized user accounts to the credit bureaus. The most common way for a minor to have a credit report is if a parent/guardian lists the minor as an authorized user or joint account holder on their credit card.
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