{"id":159555,"date":"2022-09-28T10:36:07","date_gmt":"2022-09-28T17:36:07","guid":{"rendered":"https:\/\/www.mcafee.com\/blogs\/?p=159555"},"modified":"2024-06-21T10:34:05","modified_gmt":"2024-06-21T17:34:05","slug":"credit-lock-and-credit-freeze-which-service-is-best-for-you-both","status":"publish","type":"post","link":"https:\/\/www.mcafee.com\/blogs\/internet-security\/credit-lock-and-credit-freeze-which-service-is-best-for-you-both\/","title":{"rendered":"Credit Lock and Credit Freeze: Which Service Is Best for You? Both!"},"content":{"rendered":"

Are you hoping to buy a house or apply for a car, personal, or business loan at some point? A great credit score helps to<\/span> achieve all those things. You never know the twists and turns life might take you, so even if these financial milestones aren\u2019t on your radar now, it\u2019s nice to know that a great credit score will open many doors for you when you\u2019re ready. The better your credit score, the more likely you are to get the loan you want at the best interest rate. People spend years (even decades!) working to improve their credit score<\/span>s<\/span> to unlock numerous opportunities. In the blink of an eye though, a credit fraudster can erase all that hard work and inflict long-term credit damage. It can cost huge sums to repair and take years to correct.\u00a0<\/span>\u00a0<\/span><\/p>\n

Many people feel lost on how to prevent these problems or what to do if they suspect identity theft. Luckily, new McAfee services called credit lock and security freeze, which includes credit freeze, are great tools to add to your credit protection toolbelt. They\u2019ll help protect your most personal information from thieves, and both services will help give you the peace of mind you need to confidently go about your day.<\/span>\u00a0<\/span><\/p>\n

Keep reading to learn more about McAfee\u2019s credit lock and security freeze<\/a> and find out how you can use them to help you from the negative consequences of identity theft.\u00a0<\/span>\u00a0<\/span><\/p>\n

First, What Is Credit Fraud?<\/span><\/b>\u00a0<\/span><\/h2>\n

Credit fraud is a type of identity theft where a criminal uses your information to borrow money, open a new credit or debit card, or uses your card to make purchases that they never intend to pay off. Then, when the loan defaults and the bills stack up, the victim is often left with their credit score in shambles.<\/span>\u00a0<\/span><\/p>\n

According to the FTC, credit fraud is the most common type of identity theft in 2020 and 2021, receiving nearly 18,000 reports from people saying that someone used their information to gain illegal access to their credit card accounts.<\/span>1<\/span>\u00a0<\/span><\/p>\n

What Are McAfee Credit Lock and Security Freeze?<\/span><\/b>\u00a0<\/span><\/h2>\n

To make sure we\u2019re all on the same page, here are quick definitions of McAfee<\/span>\u2019s<\/span> credit lock and security freeze services.<\/span>\u00a0<\/span><\/p>\n