Credit Freeze: How and Why
Publish date: 1/25/2021
Identity theft and financial fraud are on the rise. It is important to stay educated and as up-to-date as possible so you don’t become a victim. One way to help protect yourself from becoming a victim is freezing your credit report at the major credit bureaus- Experian, Equifax and TransUnion. Credit freezing is free to do - another reason why you should do it.
What does freezing credit even mean? Freezing your credit report restricts access to your credit report, meaning that your credit report can’t be accessed by creditors or loan servicers. This makes it more difficult for identity thieves to attempt to open new accounts using your name and information.
It is important to remember that if you want to open an account or apply for a loan, you will need to temporarily lift the freeze so your credit report can be accessed, and the report can be frozen again afterwards. Freezing your credit does not affect your credit score.
How to place a freeze? Call or visit the credit bureau websites. Remember, you need to complete the freeze for each bureau. Placing one freeze doesn’t freeze the other bureaus.
Equifax
Equifax.com/personal/credit-report-services
800-685-1111
Experian
Experian.com/help
888-EXPERIAN (888-397-3742)
Transunion
TransUnion.com/credit-help
888-909-8872
For any other information about freezing credit reports, please visit: https://www.consumer.ftc.gov/articles/0497-credit-freeze-faqs