Perhaps when words like “Communist” are thrown around in America, a closer look should be taken at the credit reporting agencies that spy and report on Americans for profit.

The fact that freezes don’t help with existing fraud or credit card breaches is a limitation, not a drawback.

While it’s true that having a freeze will delay authorized access to your credit, many states have implemented a time limit on how long a credit reporting company has to thaw your credit. Some require a simple process that takes 15 minutes or less via phone or Internet. Since all three credit report companies have to comply with state laws that means the capability to thaw quickly is there (and if they don’t offer it in your state, then you should file a complaint for them artificially making the process difficult to discourage people from signing up).

I don’t really see the automatic update of name and address as a problem. They usually get it wrong and maybe they’ll finally stop adding addresses I’ve never lived at.

And lastly, while it could cost you up to $10 per company to freeze, you only need to thaw for one. If you go to a Verizon store and want a cellphone, ask them which company they use and thaw for just that one. Also, most states offer lower fees (and smart states will implement laws soon to do so as well).

IMO credit freezes should only be initiated when you feel the threat of identity theft is imminent and in most cases a fraud victim alert will be adequate.

In the case of Todd Davis (of Lifelock Fame) his ID was stolen because the pay day loan company never even checked his credit report before issuing a loan to someone claiming to be him. In this case, not even the freeze would of prevented this theft.