How to Freeze Your Credit

If you suspect theft or have lost an item of personal identification, such as driver's license, Social Security card, or credit card, you are at risk of having your identity stolen. Once a thief has this information, it is easy for him or her to get credit in your name. For this reason, you need to know how to freeze your credit with all three credit reporting agencies. Freezing your credit prevents new credit or new loans from being given out in your name.

Edit Steps

Edit Part One: Placing the Freeze

Contact the three main credit bureaus (links provided below) to begin the process. There are three main credit bureaus which are charged with maintaining a kind of status report on your credit. They are Equifax, TransUnion, and Experian. In order to assure that all possible lines or credit or credit reports are frozen, you'll need to reach out to all three bureaus — not just one. When contacting the three bureaus, expect to provide your name, address, date of birth, and Social Security number.
- Freeze a report with Equifax or dial 800-685-1111 and ask to freeze your report.^[1]
- Freeze a report with TransUnion or dial 800-888-4213 and ask to freeze your report.
- Freeze a report with Experian or dial 888-397-3742 and ask to freeze your report.

Be prepared to pay a fee in some states. In some states but not all, placing a freeze on your credit will cost a nominal fee of $5-$10. If you are victim of identity theft, placing a credit freeze is almost always free^[2]

Wait for each credit bureau to send you a PIN. Within 5 days, the credit reporting agency should place the freeze. Within 10 days, they should send you written confirmation of the freeze, along with a personal identification number (PIN) which will allow you to either thaw or remove the freeze entirely.
- Thawing the credit freeze simply means temporarily lifting the freeze for a specified amount of time. You might use your PIN to thaw the freeze so that a reporting agency can issue a credit report for you to use or examine.
- Removing the credit freeze means permanently lifting the injunction against issuing a new line of credit or a credit report.

Continue to safeguard your credit and identity after placing the freeze. Continue to be vigilant about your credit and identity, especially if you were a victim of identity theft. Report all lost of stolen items of personal identification to the relevant authorities and try to mend any inaccurate or damaging information that may be affecting your credit score.

Edit Part Two: Understanding What the Freeze Does and Doesn't Do

Understand that freezing your credit merely prevents access to your credit report. What this means is that new credit or new loans cannot be given out, since lenders need access to credit reports in order to determine the creditworthiness of an applicant. Freezing your credit, then, is like putting a bandaid on a wound: It will prevent future bleeding, but it won't heal the cut.

Know that freezing your credit has no impact on your existing lines of credit. You can continue to use your old credit cards as usual after placing the freeze; freezing credit applies only to future, not current, lines of credit.^[3]
- Freezing your credit does not mean that you do not need to pay your credit card bills. Just as you are able to use existing credit cards, you are also expected to pay existing credit cards. Placing a freeze on your credit does not exempt you from needing to pay your bills.

Know that placing and/or keeping a credit freeze will affect timely approval of certain financial requests. It almost goes without saying, but having your credit frozen could affect approval of new loans, as well as:
- Credit, mortgage, and insurance applications, as well as certain government services
- Rental housing, employment, and investment approval
- Cell phone and utility bills
- Your digital signature
- Various credit card transactions over the internet

Remember to lift a credit freeze before shopping for a new line of credit. If you're in the market for a new line or credit, you can thaw your frozen credit for a specific creditor, or remove it completely if you're in the process of shopping around.^[4] Remember to do this a few days before you apply in order to be completely sure your application won't bounce.

Edit Tips

If you are able to prove that you are the victim of identity theft, security freeze fees are waived by all 3 credit bureaus.

Edit Warnings

If you need to apply for credit, or if you are applying for new employment, you need to temporarily lift the security freeze so you are able to complete both processes.