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Identity theft is a serious issue that’s on the rise—in 2021, consumers reported losing over $5.9 billion to fraud losses. Luckily, there are security measures you can take to protect yourself. Implementing a credit freeze is a move that helps prevent scammers from opening credit accounts in your name.
To learn about how to freeze your credit report, when you should do so, how to lift a freeze and more, check out our full guide below.
Table of Contents
A credit freeze blocks access to your credit report and financial information, preventing scammers from opening credit accounts in your name.
Note that when a freeze is put in place, prospective creditors can’t access your report until you lift the freeze. During this time, only you and a select few others, including financial and government agencies, can view your information.
Freezing your credit can be a hassle. However, it can be well worth it if:
Put simply, if you think your personal data has been compromised, a credit freeze could be the right move. Since it’s free to freeze and unfreeze your credit, it doesn’t hurt to err on the side of caution.
To freeze your credit, contact the three major credit bureaus—Experian®, Equifax® and TransUnion®—individually by phone or online.
| Credit bureau | Phone number | Website |
|---|---|---|
| Experian | 888-397-3742 | https://www.experian.com/freeze/center.html |
| Equifax | 888-298-0045 | https://www.equifax.com/personal/credit-report-services/credit-freeze/ |
| TransUnion | 888-909-8872 | https://www.transunion.com/credit-freeze |
As you contact each bureau, be sure to record any verification PINs you’re given and your account information. Contacted agencies will complete the freeze within one business day.
When you contact a bureau, you’ll need to provide personal information to initiate a freeze. Typically, you need to provide your address history, date of birth and Social Security number.
If you request a freeze over mail or online, you may also be required to provide copies of a government-issued identification card (like your driver’s license or passport), proof of address and bank statements or other tax documents.
You can lift a freeze by using the same webpage you used to initiate it. You can also lift the freeze by phone. If you’re house hunting or looking to take out money for college tuition, you can select the number of days to unfreeze your credit report, or remove the freeze permanently.
Keep in mind that requests by phone to unfreeze your account will be implemented within an hour of your request.
Freezing your credit account doesn't affect your credit score. You can still track all your credit accounts, payments and activity just as you did before.
While it won’t impact your credit score, a freeze can influence your ability to qualify for a loan, unless you lift the freeze before submitting your application.
It’s also a good idea to thaw your credit temporarily to avoid potential issues when applying for a job, buying a house or renting an apartment.
While most people can’t access your frozen credit report, certain parties still have access, including:
If you want any entity to have access to your account other than those listed above, you’ll have to unfreeze your credit report.
Even if your account is frozen, you can still receive free copies of your annual credit report from Experian, Equifax and TransUnion and at Annualcreditreport.com
If you're on the fence about whether or not a credit freeze is right for you, here are a few pros and cons to help you make the best decision.
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While freezing your credit can protect you from credit card fraud, it has its drawbacks. In some cases, it’s more convenient to initiate a credit lock or a fraud alert.
Let’s take a look at other options to secure your credit instead of freezing your account.
A credit lock is another way to block access to your credit report.
The main differences between a credit lock and a credit freeze are that the former is more convenient, but it can also be more expensive.
For example, Experian’s CreditLock allows you to lock and unlock your credit at will and will send you notifications when anyone applies for credit in your name, but costs $19.99 per month.
Credit freezes and fraud alerts both protect you from identity theft in different ways.
While a credit freeze restricts access to your account, fraud alerts require creditors to verify your identity before opening new accounts in your name.
When you place a fraud alert with one credit bureau, you’re automatically protected by all three.
While fraud alerts encourage identity verification, this method isn’t bulletproof since new accounts can still be opened in your name. In contrast, credit freezes completely block access to your credit, stopping identity thieves in their tracks.
So while fraud alerts require less work to put into place, credit freezes offer more comprehensive security.
Yes, you can freeze your child’s credit report. But to do so for a minor under 16, you need to prove you’re legally entitled to initiate a freeze. You may need proof in the form of a court order, a birth certificate or a government document proving your guardianship of the child.
Freezing your credit is a good idea if you suspect you’re a victim of identity theft. A freeze is a great security measure, but can be inconvenient to lift since you have to contact the three credit bureaus to do so. For more convenient security measures, you might consider implementing a credit lock or a fraud alert instead.
It’s free to freeze or unfreeze your credit as you please. While credit companies could previously charge for the service, credit freezes became free by federal law as of 2018.
Implementing and lifting credit freezes can be inconvenient, but it’s a small price to pay to prevent scammers from opening accounts in your name. Whether you freeze your credit, use a credit lock or implement a fraud alert, it’s important to keep your accounts secure.
If identity theft damages your credit, not to worry. CreditRepair.com is here to help you evaluate and work toward fixing your credit .
Note: The information provided on CreditRepair.com does not, and is not intended to, act as legal, financial or credit advice; instead, it is for general informational purposes only.
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