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TransUnion currently provides a service the other two bureaus don’t: the ability to freeze your TransUnion credit report, which essentially prevents ID thieves from opening new accounts in your name. The service is part of a $14.95-a-month credit monitoring package.
Recently, TU announced it would extend the service to anyone who wanted to pay $10 to lock up his or her file, starting next month.
Credit freezes aren’t new. At last count, 39 states and the District of Columbia passed laws allowing their residents to lock up their files at all three bureaus. But some laws cover only identity theft victims, and 11 states still have no laws.
The TU move is a gesture in the right direction, but a freeze at only one bureau has limited use. What consumers really need is a nationwide law authorizing credit freezes for everyone who wants them at all three bureaus.
