How to Freeze Your Credit (It's Free) and Why You Should

A credit freeze restricts access to your credit report, so most lenders can’t approve a new account in your name. Since data breaches have exposed many people’s personal information, a freeze is one of the most effective ways to block identity thieves.

What a freeze does and doesn’t do

It does:

• Prevent most new credit accounts from being opened in your name
• Stay in place until you lift it

It doesn’t:

• Affect your credit score
• Stop you from using existing cards and loans
• Prevent existing creditors, debt collectors or certain government agencies from accessing your report
• Stop fraud on accounts you already have

How to freeze your credit

You need to freeze your credit separately with each of the three nationwide bureaus: Equifax, Experian and TransUnion. You can do it online, by phone or by mail.

1. Visit each bureau’s website and create an account.
2. Verify your identity.
3. Request a security freeze.
4. Save your login or PIN so you can lift the freeze later.

How to unfreeze it

When you apply for a loan, credit card, apartment or sometimes a new phone plan, temporarily lift the freeze at the bureau the lender uses, or at all three. Requests made online or by phone must be processed within an hour. You can set the freeze to come back automatically on a certain date.

Freeze vs. fraud alert vs. lock

• Freeze: Free, strongest protection, governed by federal law.
• Fraud alert: Free; tells lenders to verify your identity before opening an account. Lasts one year, or seven years for identity theft victims. Placing it with one bureau notifies the others.
• Credit lock: Similar to a freeze, offered by bureaus, sometimes as part of a paid service.

Freeze your kids’ credit too

Parents can request a freeze for children under 16. Kids’ Social Security numbers can be targeted because the fraud can go unnoticed for years.

If you’re a victim of identity theft

Report it at IdentityTheft.gov to get a personalized recovery plan, then review your credit reports for unfamiliar accounts.