Last year, credit reporting companies "voluntarily" implemented credit freezes in all states in a desperate attempt to prevent more states from passing laws with worse terms than they wanted (that's my theory anyway).

Now Georgia has passed just such a law. Starting August 1st, people will be able to freeze their credit for only $3, a full $7 less than the $10 the credit reporting companies allowed in their "voluntary" plan.

Even better:

The new law also eliminates a major objection of retailers and other grantors of instant credit: that freezing a file was too much of a hassle for someone applying for an in-store credit card or car loan on the spot. Under the law, consumers will be able to "thaw" their files temporarily, and credit bureaus are required to comply within 15 minutes of the request — a first in the country.

Good. Now they have no excuse for making the thawing process more difficult for any other state.