Freezing your credit report is sometimes necessary. It can help prevent identity thieves from opening new lines of credit and other accounts in your name. It’s often recommended when you’re dealing with the ramifications of identity theft. Show
A credit freeze allows you to restrict access to your credit report. When you freeze your credit file, you prevent potential creditors from accessing certain financial and personal information. Creditors are unlikely to let you — or an identity thief — open, say, a new credit card, if they can’t access your credit report. That’s because they won’t be able to assess your creditworthiness. If you need to freeze your credit, you can get a free credit freeze by requesting one at each of the three major credit reporting agencies. More on that later. What is a credit freeze?A credit freeze — also known as a security freeze — gives you the chance to “lock” your data at the major credit bureaus. Doing this also makes it impossible for identity thieves to use your personal information on anything tied to your credit report. You will receive a password or personal identification number to use for temporarily lifting or removing the freeze. Credit freezes neither affect your credit score, nor prevent you from receiving your free annual credit report. You’ll likely have to lift the freeze to apply for a job, rent an apartment, open new accounts, or buy insurance. You can do this for free. Keep in mind that a credit freeze will not stop identity thieves from using your existing accounts, so you’ll still need to monitor credit card, bank, and insurance statements for fraudulent charges. When should I consider a credit freeze?You might consider a credit freeze if you know your information has been exposed in a data breach. Why? Cybercriminals may have accessed your personal information, which could be used to commit financial fraud. Often, the exposed information — which might include personally identifiable information like your name, address, date of birth, and Social Security number — is sold on the dark web. If you think you’ve been a victim of identity theft, a credit freeze might be a smart move. Other examples? You might also consider freezing your credit if you start to receive bills for credit accounts you didn’t open. For instance, it could be a medical bill you don’t recognize. Or you might receive calls from a collection agency seeking payment on a credit line you never opened. These are signs that you’re a victim of identity theft. How to freeze your credit reportFreezing your credit report requires a request to each major credit bureau. There isn’t much variation in what’s required to freeze your report between the different credit bureaus, and Equifax, Experian, and TransUnion all offer information on how to go about the process. To freeze your credit report, you’ll need to provide some personal information, including your name, address, date of birth, and Social Security number. The credit agency will give you a personal identification number or password after it receives your request for a credit freeze. You’ll need that information to unfreeze your credit. You can request a credit freeze online or by phone. A credit agency must place the freeze within one business day, according to federal law. When you’re ready to lift a freeze — giving creditors access to your credit report — the agency must lift it within one hour of your request. Another option: You can request or lift a credit freeze by mail. Federal law requires the credit agency to place or lift the freeze within three business days after it receives your request. You can lift the freeze temporarily for free. Freezing your credit report at each credit bureauYou can visit each credit bureau’s website to get more information about placing a security freeze on your credit report.
How to freeze your Equifax credit reportEquifax outlines three steps on its website to freeze your credit. Here’s how it works. 1. Click the “Get Started” button The website includes information about how you can place a security freeze for a child under 16 or an incapacitated adult. Equifax offers a mobile app to lock or unlock your credit file. Tip: When you go online to freeze your credit, remember to opt out if you don’t want to receive pre-screened offers of credit or insurance that you didn’t initiate. You’ll need to click the “Opt Out of Offers” button to begin the process. How to freeze your TransUnion credit reportTransUnion offers a three-step process on its website to freeze your credit.
The website includes information about freezing the credit of a loved one, including a minor or dependent, spouse, deceased relative, or parent. TransUnion has a mobile app to freeze or lift your credit on the go. Be sure to opt out, if you don’t want to receive unsolicited offers of credit or insurance. How to freeze your Experian credit reportTo get started, click on the “Freeze my credit” button on the website. You’ll be asked, “What would you like to do?” You’ll be given four choices.
Click on “Add a credit freeze” and you’ll be guided through the process. Major credit bureau addressesIf you choose to freeze your credit by mail, here’s where to send your requests. Experian Security Freeze TransUnion LLC Equifax Security Freeze Credit freeze vs. fraud alertA credit freeze differs from a fraud alert. A credit freeze “locks down” your credit. A fraud alert allows creditors to obtain a copy of your report as long as they take steps to verify your identity, according the Federal Trade Commission. As with credit freezes, fraud alerts do not stop identity thieves from using your existing accounts. But they do help prevent them from opening new ones. There are three types of fraud alerts.
Credit freeze pros and consHere are some of the advantages and disadvantages of getting a credit freeze. Credit freeze prosHere are four benefits of a credit freeze.
Credit freeze consCredit freezes have certain disadvantages, including these.
Keep in mind, a credit freeze does not apply to current creditors. They can still access your credit reports. Also, government agencies may have access under certain circumstances, such as a court or administrative order, a subpoena, or a search warrant. Lifting your credit freezeLifting your credit freeze, whether temporarily or permanently, requires contacting credit agencies through the websites, by phone, or by mail. It’s free to lift a credit freeze. Here’s a tip if you need to temporarily lift a credit freeze if you’re applying for credit or a job. Ask the business which credit bureau it plans to contact. That way, you can lift just one credit freeze instead of all three. Whether you decide a credit freeze is a good idea for you or not, it’s smart to take other steps to help protect against identity theft and fraud. For instance, it’s a good idea to monitor your credit reports. That way, you can see if your credit report contains any suspicious activity and take steps to dispute it and have it removed. Credit freeze glossaryActive military alertThis type of fraud alert helps deployed servicemembers to minimize their risk of identity theft. Businesses must take extra steps before granting credit in the servicemember’s name. The alerts last for one year and can be renewed for the period of deployment. Credit freezeA way to restrict access to your credit file.Credit reportA report of your credit history compiled by credit reporting agencies. Credit reporting agencyAn agency that collects and compiles your payment history in a credit report. Agencies also sell this information to other businesses. The three major credit reporting agencies are Experian, Equifax, and TransUnion. Also known as credit agency or credit bureau. Credit scoreA three-digit number based on your credit history representing your creditworthiness. The higher the score, the lower the credit risk. Data breachA security incident in which information is accessed without authorization. A data breach may expose your personal information, which could potentially raise the risk of identity theft. Extended fraud alertThis type of fraud alert protects the credit of identity theft victims for seven years. It allows creditors to obtain a copy of your credit report as long as they take steps to verify your identity. Fraud alertA fraud alert allows creditors to obtain a copy of your report as long as they take steps to verify your identity. Initial fraud alerts protect your information for 90 days. Free annual credit reportBy law, you can get one free credit report annually from each of the three major credit reporting agencies at AnnualCreditReport.com. Even if you have a credit freeze in place, you can still access your reports. Identity theftIdentity theft occurs when thieves steal your personal information to do criminal things in your name, including taking over or opening new accounts, filing a tax return in a fraudulent attempt to get your refund, and renting or buying properties.
Copyright © 2022 NortonLifeLock Inc. All rights reserved. NortonLifeLock, the NortonLifeLock Logo, the Checkmark Logo, Norton, LifeLock, and the LockMan Logo are trademarks or registered trademarks of NortonLifeLock Inc. or its affiliates in the United States and other countries. Firefox is a trademark of Mozilla Foundation. Android, Google Chrome, Google Play and the Google Play logo are trademarks of Google, LLC. Mac, iPhone, iPad, Apple and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc. Alexa and all related logos are trademarks of Amazon.com, Inc. or its affiliates. Microsoft and the Window logo are trademarks of Microsoft Corporation in the U.S. and other countries. The Android robot is reproduced or modified from work created and shared by Google and used according to terms described in the Creative Commons 3.0 Attribution License. Other names may be trademarks of their respective owners. Can I lock Experian?Experian CreditLock allows you to do all that and more. As a part of your paid Experian CreditWorksTM membership, you can lock or unlock your Experian credit file whenever you want, with no additional fee and no waiting period. If someone tries to access your locked file, you'll immediately receive a notification.
How do I lock my credit report?Contact each of the three major credit bureaus — Equifax, Experian and TransUnion — individually to freeze your credit:. Equifax: Call 800-349-9960 or go online. Check out our step-by-step Equifax credit freeze guide.. Experian: Call 888‑397‑3742 or go online. ... . TransUnion: Call 888-909-8872 or go online.. Can I freeze my Experian account for free?You can also request a security freeze on your credit file by phone at 888-EXPERIAN (888-397-3742) or by mailing a request to Experian Security Freeze, P.O. Box 9554, Allen, TX 75013. There is no fee to add or remove a freeze.
What does it mean to lock your Experian credit file?Experian CreditLock
Prevent unauthorized credit activity with real-time alerts if someone tries to apply for credit in your name while your credit file is locked.
|