What Is a Credit Freeze?
What a credit freeze is and how it protects you from identity theft.
MINTING MONEY
Anvay Adivarekar
10/10/20252 min read
Introduction
If criminals steal your personal information, they might try to open credit cards or loans in your name. A credit freeze is one of the most effective and free ways to stop them.
What Is a Credit Freeze?
A credit freeze restricts access to your credit report. Since most lenders check your credit before opening a new account, a freeze makes it very difficult for anyone to open new credit in your name. It does not affect your existing accounts or your credit score.
How to Freeze Your Credit
You need to contact each of the three major credit bureaus, Equifax, Experian, and TransUnion, to place a freeze. It is free by law in the United States. Parents can also freeze credit for children under 16, which protects them from identity theft before they even start using credit.
Lifting a Freeze
When you want to apply for a loan, credit card, or apartment, you can temporarily lift the freeze online or by phone. You can choose to unfreeze for a specific time period. Afterward, the freeze goes back into place.
Conclusion
A credit freeze is a simple, free way to protect your financial identity. It is one of the smartest moves you can make to stay safe from fraud!