![]() If you need to request a credit freeze for your child, another adult for whom you have power of attorney or a military service member, you’ll need to provide proof of your identity and theirs, along with documentation showing that you’re authorized to handle their account. You’ll then be able to temporarily and permanently remove the block via the website when you’re ready. The easiest way to freeze your credit with Equifax is to create an online account and request the freeze through the bureau’s website. You will not have to pay for a credit freeze with Equifax, Experian or TransUnion. How much does a credit freeze cost?Ĭredit freezes are free to request and remove. But you should know that to really safeguard against hackers, you’ll need to request freezes with the three major credit bureaus (Equifax, Experian and TransUnion). Placing a freeze is a fairly straightforward process. As for new creditors, they won’t be able to view that data and use it to open new loans or lines of credit either. But they won’t be able to open new credit lines in your name as long as the freeze is in place. Your current creditors can still access the file as it relates to your existing loans and creditors. Without those pieces of data, they won’t be able to approve you for a new account, which means that fraudsters trying to use your information will be stopped in their tracks.Įssentially, a credit freeze locks your credit file when it comes to new accounts. But you can protect yourself from identity theft by placing a credit freeze on your file.Ī credit freeze prevents lenders from pulling your credit report. If you're just going to do one thing, like ordering a new phone or buying a new car, you should check with the service provider or auto dealer to find out which credit-monitoring agency it uses, then grant access to that agency.Many factors affect your credit score - new accounts, available credit, on-time payments - and all of them can be hijacked by fraudsters. In addition, you may not have to thaw your report at all three credit bureaus. The credit-reporting agencies have a feature that lets you select a window for when a thaw goes into effect and when it will automatically refreeze. If you only need to give one creditor access for a specific amount of time, you can impose a temporary thaw. Once you've taken care of your business, you can freeze your credit once again. You may want to enroll in a credit-monitoring program, but be aware that these often carry additional costs. Creditors now have access to your data, but criminals also have the opportunity to open accounts in your name if your information has been compromised. Once you impose the thaw, make sure you monitor your credit report. If you're planning lots of financial moves without a clear timetable, such as applying for a mortgage, you can simply thaw your credit report indefinitely.Ĭontact each of the three major credit bureaus either by going online, calling them on the phone, or by mail. To place, temporarily lift, or permanently remove a security freeze from Experian and TransUnion, the other two major credit reporting agencies, you'll still need a PIN number. "Credit freezes are consumers' best protection against new account fraud, and consumers should take advantage of free freezes, lifts, and removals at the three major credit bureaus to help reduce the risk of identity theft," says Maureen Mahoney, policy analyst for Consumers Union, the advocacy arm of Consumer Reports. Any previously frozen credit reports will remain frozen until a consumer changes the report's status. If you've lost your number, a new one can be requested by downloading, filling out, and mailing this form to Equifax. Your old Equifax PIN will still be valid in these instances. However, if you want to manage your Equifax report by phone or by mail, Bistritz-Balkan says you'll still need a PIN number. A username and password will be necessary to thaw or lift your credit freeze online, she says. "We wanted to create an online experience that enables consumers to securely and conveniently manage security freezes and fraud alerts," says Nancy Bistritz-Balkan, Equifax's vice president of consumer education & advocacy. To create the account you'll have to provide information such as your name, Social Security number, and home address. Now, you need to open a new online account with Equifax in order to manage your credit, even if you've already been issued a PIN number by the company. ![]() ![]() Before the new law was enacted, Equifax would give you a PIN number to initiate a credit freeze.
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