How to Place and Manage a Credit Freeze
Placing a freeze is straightforward but requires you to contact each of the three major credit bureaus separately. You can typically manage your freeze online, by phone, or by mail.
- Contact Each Credit Bureau: To ensure complete protection, you must place a freeze with Equifax, Experian, and TransUnion. Since lenders may use any one of the three, freezing only one leaves you vulnerable.
- Verify Your Identity: You will need to provide personal information, such as your name, address, date of birth, and Social Security number, to confirm your identity.
- Secure Your PIN/Password: Each bureau will provide a method for lifting the freeze, such as a PIN or an online account password. Store this information in a safe and secure place, as you will need it to “thaw” your credit later.
When you need to apply for new credit—like a mortgage, car loan, or credit card—you must temporarily lift the freeze. You can request a thaw for a specific period (e.g., one week) or for a specific creditor. Once the time expires, the freeze automatically goes back into effect.
Who Is Eligible for a Credit Freeze?
Every consumer in the U.S. is eligible for a free credit freeze. This right was established by the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018, largely in response to the 2017 Equifax data breach. Before this federal law, fees and eligibility varied by state.
Parents and legal guardians can also place a freeze on behalf of children under 16 to protect them from child identity theft, a crime that can go undetected for years.
Credit Freeze vs. Fraud Alert: What’s the Difference?
While both tools help prevent identity theft, they work differently.
- A credit freeze is prohibitive; it blocks new creditors from accessing your credit report entirely unless you lift it.
- A fraud alert is cautionary; it requires lenders to take extra steps to verify your identity before opening a new account but does not block access. An initial fraud alert lasts for one year.
A freeze offers the strongest protection against new account fraud. You can learn more about managing identity theft at IdentityTheft.gov, the federal government’s official resource.
Common Misconceptions About Credit Freezes
- Myth: It will lower my credit score. False. A credit freeze has no impact on your credit score. Your existing creditors can still see your report, and positive credit history will continue to be reported.
- Myth: It stops all forms of identity theft. False. It is highly effective at preventing new credit fraud but does not stop fraudulent charges on your existing accounts or tax-related identity theft. Continue to monitor your bank and credit card statements regularly.
- Myth: A credit freeze is the same as a credit lock. False. While functionally similar, credit locks are services offered directly by the bureaus, often as part of a paid subscription. Credit freezes are a legal right and are always free.
Frequently Asked Questions (FAQ)
How long does a credit freeze last?
A credit freeze remains in effect until you permanently remove it. There is no expiration date.
Will a freeze affect my existing credit cards or loans?
No. Your current accounts will function normally. A freeze only impacts applications for new credit.
What happens if I forget the PIN to unfreeze my credit?
Each bureau has a recovery process if you lose your PIN or password. This typically involves answering security questions or providing documents to verify your identity, which may add a slight delay.
Can I still get my free annual credit reports if my credit is frozen?
Yes. You are still entitled to your free credit reports from AnnualCreditReport.com even when a freeze is in place.
