One of the best ways to protect your credit is by freezing it. A credit freeze allows you to freeze your credit reports to limit access and protect you from credit fraud.
But what is a credit freeze, anyway? In this comprehensive guide, we will reveal how to freeze your credit at all the major credit bureaus. So read on to take the right security measures to restrict access to your credit report.
What Is a Credit Freeze?
A credit freeze is a protective measure that allows you to block unauthorized access to your credit reports. It is also known as a security freeze and is ideal if you want to keep your credit reports safe from scammers and prevent them from taking credit in your name or stealing your identity.
A credit freeze is free and does not affect your credit score. With a credit freeze in place, any lenders or creditors will be denied access to your credit reports unless you lift the freeze temporarily or permanently.
However, your credit reports are still accessible by any creditors you have an existing account with, government agencies, or landlords.
How to Freeze Your Credit?
You can freeze your credit report at the three major credit bureaus by contacting them online, by phone, or by. To do so, you will first need to gather some documents to meet the credit bureau’s requirements.
While these requirements differ depending on the credit bureau, here is what you will generally need to verify your identity for freezing your credit:
- Social Security number
- Date of birth
- Residential address
- Copy of your utility bills, tax documents, or bank statements
- Copy of your driver’s license, passport, or military ID
You may also need to verify your identity by answering some questions if you freeze your credit via phone.
Once you have gathered all of the documents, contact all of the three major credit bureaus:
1. Experian
Phone: 888-397-372
Website: https://www.experian.com/help/credit-freeze/
Mail: Experian Security Freeze
P.O. Box 9554
Allen, TX 75013
2. Equifax
Phone: 888-298-0045
Website: https://www.equifax.com/personal/credit-report-services/credit-freeze/
Mail: Equifax Info Services LLC
P.O. Box 105788
Atlanta, GA 30348-5788
3. TransUnion
Phone: 800-916-8800
Website: https://www.transunion.com/credit-freeze
Mail: TransUnion
P.O. Box 160
Woodlyn, PA 19094
Applying for a credit freeze online is one of the easiest ways to do it. Once you have requested a credit freeze via phone or online, it will be placed by the bureau within one business day.
However, credit bureaus take three business days to place a credit freeze if you have requested via mail.
Conclusión
Freezing your credit is the quickest and easiest way to prevent identity theft. It keeps scammers from opening credit accounts in your name, especially in the case of a security breach. A credit freeze is absolutely free to set up and can be placed by contacting all of the three major credit bureaus. Take charge of your security now and prevent yourself from financial fraud.
Frequently Asked Questions
When Should I Freeze My Credit?
If you aren’t planning to purchase a loan or a credit card, you should freeze your credit to protect it from unauthorized use. You should also get a credit freeze if your confidential data, such as your Social Security number, has been compromised.
How Long Does a Credit Freeze Last?
A credit freeze lasts until you request the freeze to be lifted. It remains in place for an indefinite period of time until you request a lift on it.
How to Unfreeze My Credit?
The easiest way to unfreeze your credit is by reaching out to the relevant credit bureau by phone or online and requesting an unfreeze. You can also contact them by mail. An unfreeze typically takes a few hours if requested by phone or online. But if you have requested an unfreeze via mail, it will take up to three business days.
Are There Any Cons of Freezing Credit?
There are a few potential cons of freezing your credit. While freezing your credit protects it from unauthorized access, you are still vulnerable to fraudulent activities on your existing credit accounts.
Moreover, you will be unable to open a new credit account as long as there’s a freeze in place. You will also have trouble creating your Social Security account with a credit freeze in place.
Is Freezing Your Credit a Good Idea?
Yes. Freezing your credit is definitely a good idea if you do not plan on opening a new credit account in the near future. It is the best way to prevent identity theft and fraud.
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