Freezing your credit restricts who can access your credit reports. While some entities can still view your reports, a credit freeze can prevent identity thieves from using your information to open new credit accounts.
If you have reason to believe that you’re a victim of identity theft, or if you simply want to safeguard your credit reports, here’s what you need to know about credit freezes and how to freeze your credit for free.
What is a credit freeze?
A credit freeze, also known as a security freeze, limits who can access your credit file. In particular, it prevents creditors from checking your credit reports during the application process for a new loan or credit card.
If someone tries to use your personal information to open a fraudulent account, a credit freeze blocks that attempt. At the same time, it’ll keep you from getting approved for credit unless you unfreeze your reports.
That said, freezing your credit doesn’t stop all credit inquiries. When your credit is frozen, you can still review your credit reports anytime you wish, as can parties such as:
- Creditors if you already have an account with them
- Landlords you’ve authorized to screen your credit
- Employers you’ve authorized to run a credit check during the job application process
- Debt collection agencies
- Credit card companies prescreening you for an offer
- Insurance companies you’ve authorized to help secure a new policy
- Certain government agencies for purposes such as collecting child support and executing court orders or warrants
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Steps to take to freeze your credit
You can freeze your credit reports for free, but the process can take some time because you’ll need to submit a freeze request with each of the three major credit bureaus: Equifax, Experian and TransUnion.
Submitting a request through an online account with each bureau is generally the fastest option. However, you can also request a credit freeze by phone or mail.
The process can vary slightly for each bureau, but in general, be prepared with the following information:
- Full name
- Date of birth
- Social Security number
- Address history for the past two years
If you’re requesting a credit freeze via mail, be prepared to include identity verification, such as a copy of a government-issued photo ID or Social Security card, and proof of address, such as a copy of a utility bill or bank statement.
If you’re requesting a security freeze for a child who has a credit report, you’ll need to submit proof of both your identities. You’ll also need to provide documentation, such as a birth certificate or court order, showing that you’re the parent or other authorized representative.
Here’s how to put a freeze on your credit with each of the three credit reporting agencies:
When to freeze your credit
A security freeze can be a good way to protect yourself from identity theft. In particular, it can be worth it to freeze your or your child’s credit in the following situations:
- You believe that someone may have stolen your personal information, particularly your Social Security number.
- You’ve been notified that your personal information, including your Social Security number, has been stolen.
- You don’t have plans to apply for credit anytime soon, and you don’t want to regularly monitor your credit reports for fraudulent activity.
- You’re concerned about your child’s Social Security number and other personal information falling into the wrong hands.
“Children are especially vulnerable to identity theft because they typically have a clean credit history,” said Michael Scheumack, chief marketing and innovation officer at IDIQ, which offers identity theft protection and credit monitoring services. It could be a good idea to freeze your child’s credit to avoid any potential identity theft down the line.
When and how to unfreeze your credit
A credit freeze will remain in place indefinitely, but you can unfreeze or “thaw” your credit anytime you’d like. In particular, you should unfreeze your credit reports before applying for a loan or credit card. Otherwise, it could delay the underwriting process.
Depending on your needs, you can remove a credit freeze permanently, or you can lift it temporarily, specifying when you want the freeze to be lifted and for how long.
If you’re wondering how to unlock your credit freeze, you can use the same methods provided for submitting your initial freeze request.
If you submit your request to thaw a credit freeze online or by phone, the bureaus must complete it within one hour — though it can also happen instantaneously. If you file a request via mail, the bureaus have three business days to complete the thaw.
Credit lock vs. credit freeze
Like a credit freeze, a credit lock restricts access to your credit reports. However, there are some key differences between the two options:
- Credit locks may cost money: Security freezes are free to place, but you may need to subscribe to a paid credit monitoring or identity theft protection service to place a credit lock. For example, Experian CreditWorks℠ Premium costs $24.99 per month and includes three-bureau credit monitoring and Experian CreditLock, which allows you to quickly lock your Experian credit file.
- Credit locks may expire: Because credit locks are administered by a credit monitoring or identity theft service, they may expire if you cancel your subscription.
- Credit locks may come with inquiry alerts: If you pay for a service that locks your credit report, you may also receive alerts if someone tries to access your credit report.
Fraud alert vs. credit freeze
If you do have plans to apply for a line of credit in the near future and don’t want to freeze and unfreeze your credit, you can also consider a fraud alert.
A fraud alert is free to place with all three major credit bureaus. It doesn’t prevent creditors from reviewing your credit reports to approve new accounts. Instead, a fraud alert tells lenders that you may be a victim of identity theft and requires them to verify your identity before extending credit.
An initial fraud alert lasts one year, but it can be renewed after that or removed before a year has passed. If you’re in the military on active duty, you may qualify for a one-year active duty fraud alert. And if you’ve reported identity theft to the Federal Trade Commission or filed a police report, you may qualify for an extended fraud alert, which lasts seven years.
“It gives an extra level of security for that specific time period and still allows you to continue applying for new credit,” Scheumack said.
Unlike with a credit freeze, you won’t have to contact each credit bureau separately. Once you place a fraud alert with one of the three major credit bureaus, that bureau will alert the other two.
Frequently asked questions (FAQs)
Yes. A credit freeze has no impact on your existing credit account, including credit cards.
No. While freezing your credit can prevent hard inquiries from lenders, it doesn’t impact your credit score in any way.
A credit freeze has no expiration date. While you can temporarily or permanently lift a freeze, it’ll remain in place indefinitely until you make that request.
Yes. Several entities can still view your frozen credit report. Examples include existing creditors, landlords, utility companies, insurance carriers, debt collection agencies and certain government agencies.
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