What is a Credit Freeze?

A credit freeze is used to prevent potential lenders or other businesses from reviewing your credit reports and credit scores without your consent. This prevents identity thieves from opening credit accounts in your name, even if they have your social security number and/or other personal information. They are a proactive solution for identity theft rather than reactive. A credit freeze essentially takes your credit reports out of circulation and prevents unauthorized access. Credit freezes are federally regulated and should be temporarily lifted or permanently removed each time you apply for credit.

Why Should I Set Up a Credit Freeze?

Your credit report contains a wealth of personal information, including your Social Security number, address, and financial history. A security freeze helps protect this sensitive data from falling into the wrong hands. When you freeze your credit, you have control over who can access your credit report. You can temporarily lift the freeze when you need to apply for credit (e.g., a loan, credit card, or mortgage) and then reapply it afterward.

It’s important to note that while a security freeze provides robust protection against new account fraud, it does not protect against all forms of identity theft, such as existing account takeovers or other types of fraud unrelated to credit reporting. Therefore, it’s advisable to monitor your financial accounts regularly and take other security measures like using strong, unique passwords and enabling two-factor authentication on your accounts.

Does a Security Freeze Apply to All 3 Bureaus?

You have to place a credit/security freeze with each bureau separately. For example, when you place a security freeze through Experian, it only freezes your Experian credit file. To manage your freeze with the credit bureaus, simply visit their websites and complete the security freeze process for each.

Can I place a credit freeze on an incapacitated adult’s and/or minor’s credit report?

Yes, there are instructions to follow and forms to complete for each bureau. 

To place a security freeze on the Equifax credit report of a minor (under the age of 16), download and follow the instructions on the Minor Freeze Request.

To place a security freeze on the Equifax credit report of an incapacitated adult, download and follow the instructions on the Incapacitated Adult Freeze Request.

To place a security freeze on the TransUnion credit report of a minor or an incapacitated adult, you will have to send a written request to place a “protected consumer freeze” on the named individual’s file. You will need a copy of one piece of documentation that provides ‘sufficient proof of authority’ that you have authority to act on behalf of the minor or dependent and information or copies of documentation confirming your identity and the identity of the minor/dependent.

To place a security freeze on the Experian credit report of a minor or an incapacitated adult, you must do so by completing the Freeze Request form by mail. 

Who Can View My Credit Report When It Is Frozen?

• You
• Existing creditors or debt collectors acting on their behalf
• Government agencies responding to a court order, subpoena, or search warrant
• Insurance companies accessing your report for the purpose of insurance underwriting
• Utility companies
• Debt portfolio evaluators or other forms of account review
• Anyone accessing your credit report for employment, tenant, or background screening purposes

What doesn’t it do?

It doesn’t prevent ID theft of your existing accounts or credit cards. It just prevents them from opening new accounts in your name.  ID thieves can still open non-credit accounts in your name that don’t require a credit report.

What does it cost?

Freezing your credit report is free. Phone, message, and mail rates may apply in the process.

How do you set up a credit freeze?

To set up a credit freeze, you must contact all three national credit report agencies – Equifax, Experian, and TransUnion – and request the freeze either online, by phone, or by mail.  You will be given a PIN number that can be used to unfreeze (or “thaw”) your credit reports.  You can thaw them for all creditor access for a specific time frame, or you can thaw them only to allow one creditor to have access to your credit file for a specific time frame.  The freeze remains until you cancel it. 

• Experian: Go online to initiate, or for information, call 888‑397‑3742. 
• TransUnion: Call 888-909-8872 or go online. 
• Equifax: Call 800-349-9960 or go online. 

To set up a freeze with each bureau, you will need to:

• Create an account with each bureau
• Verify your identity through authentication questions or One-Time Passcode sent to your device
• Create a PIN to access your credit report (for Experian and TransUnion)
• Initiate the freeze and agree to the terms and conditions

How do you lift a freeze?

You will have to unfreeze your credit file if you want to enable someone to run a credit check on you.

The freeze can be lifted within 15 minutes to 3 days depending upon state regulations.  You can contact the three national credit reporting agencies either by email, writing, or phone to lift a freeze.

One of the challenges is to determine the amount of time to lift the freeze when you are applying for credit.   If you plan to be seeking credit, it is not a good idea to freeze your credit files. It can be costly, and the timing of the “thaw” and refreeze process can be complicated.  You don’t want to apply for credit and then incorrectly time the thawing of your credit reports and not allow the creditor to pull your file/s.

Credit freezes are an effective way to protect your financial and personal information from identity theft, especially if you’re not actively seeking new credit. However, if you frequently apply for credit, you’ll need to be prepared to temporarily lift the freeze when needed. Freezing and unfreezing your credit is a straightforward process that can usually be done online or by phone. It’s not overly burdensome, and it can be done quickly when necessary.