What does a security freeze do?
A security freeze stops companies from looking at your credit profile, which halts the application process for loans, credit cards, utilities, new bank accounts and more until the freeze is lifted.
When should I freeze my credit?
A credit freeze protects unauthorized access to your credit report. By freezing your credit proactively, fraudsters can’t open new accounts in your name, even if they have your personal info. A credit freeze has no impact to your credit score. Just remember to unlock or unfreeze your credit information prior to any credit applications.
Credit and bank freezes should be lifted when:
Applying for a loan
Applying for a credit card
Purchasing an item with financing, like a large appliance, car, or house
Refinancing your mortgage
Utility freezes should be lifted when:
Changing your phone, TV or internet service provider
Moving to a different address
Just use the same provided links, sign into your account and follow the instructions to remove a freeze.
Should I freeze my credit with all 3 major credit bureaus?
Yes. Creditors may use different bureaus to access your info. Freezing one leaves the other two open to inquiries.
Will a security freeze prevent identity theft?
Not all identity theft can be prevented. Freezes can greatly mitigate financial damage by preventing unauthorized
accounts from being opened in your name.
Will a security freeze affect my credit score?
No. A security freeze simply stops creditors from looking at your credit files. Your score will not be affected.