How to Freeze Your Credit for Free

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Freezing your credit is one of the simplest and most effective ways to protect yourself from identity theft and fraud. By placing a credit freeze, you block lenders from accessing your credit report, making it nearly impossible for someone to open a new account in your name. The best part? It doesn’t cost a thing.

What Does It Mean to Freeze Your Credit?

When you freeze your credit, you block businesses, lenders, employers, landlords and all other parties from accessing your credit report. It’s a vital security tool because it can prevent bad actors from opening accounts, taking out loans or securing credit in your name. It gives you control over your most sensitive personal and financial data without much downside.

A credit freeze:

• Won’t impact your credit score.
• Doesn’t prevent you from using your existing credit cards.
• Can be lifted — or unfrozen — at any time when the threat has subsided or you’re seeking a loan, credit, an apartment, employment, or anything else that requires a credit check.

How to Freeze Your Credit Step-by-Step

To freeze your credit, you must initiate the process with all three credit bureaus individually online, by phone or by mail.

Take the following steps to freeze your credit with all three bureaus:

1. Create an account or log into your existing account.
2. Provide your pertinent personal information — name, address, birthday and Social Security number.
3. Set up a password or PIN, which you’ll need to unfreeze your credit later.
4. Confirm the freeze and save your confirmation email.

When Should You Freeze Your Credit?

Consider initiating a credit freeze if:

• You think you’ve been a victim of identity theft.
• Your private data was exposed in a breach or hacking event.
• You don’t intend to apply for credit in the near future.
• You want an added layer of fraud prevention in your financial and personal security strategy.

Tip: Parents can also freeze their children’s credit to protect them from child identity theft.

How Long Does It Take to Freeze Your Credit?

Online and phone freezes are usually instant, but mail-in requests can take several days after the bureau receives your request. Either way, you’ll receive a confirmation from each bureau once the freeze is in place.

How to Unfreeze Your Credit

When the threat is lifted or you want to apply for credit or a loan, follow these steps to unfreeze your reports.

• Revisit each bureau’s website.
• Log into your account.
• Enter your PIN or password.
• Choose whether to:
  • Temporarily lift the freeze for a set period, which Experian calls a “temporary thaw.”
  • Permanently remove the freeze, which leaves your report open until you initiate another freeze.

Unfreezing is also free, doesn’t affect your credit and usually takes effect within minutes.

Credit Freeze vs. Credit Lock vs. Fraud Alert

Credit freezes provide the strongest protection by precluding lenders from issuing loans or credit in your name, whether fraudulent or legitimate, until you unfreeze your credit.

Alternatively, some people choose a credit lock, which blocks your report but allows the user to lock and unlock it immediately at any time on their phone or web browser. This service comes at a cost with two of the three bureaus.

• Equifax: Free
• Experian: First seven days free, then $24.99 per month
• TransUnion: $29.95 per month and includes TransUnion’s suite of security services called Credit Monitoring

Finally, you can choose a fraud alert, which doesn’t block your report or preclude the opening of new accounts but alerts lenders to verify your identity first.

Tip: A freeze provides the highest level of security for anyone worried about fraud or identity theft.

Does Freezing Your Credit Affect Your Credit Score?

Freezing your credit does not impact your credit score or affect your current accounts. It only blocks new accounts from being opened in your name, legitimate or not. You can continue using your credit cards and loans, and you must continue making on-time payments.

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