Do You Need a Credit Freeze?

A credit freeze, also known as a security freeze, is a tool that restricts access to your credit report, preventing identity thieves from opening new accounts in your name. It does not affect your credit score or existing accounts, but it does block lenders from checking your credit when you apply for new credit.

Benefits of a Credit Freeze:

  • Identity Theft Protection: Prevents fraudsters from opening accounts in your name.
  • Fraud Prevention: Stops unauthorized credit applications.
  • Control Over Your Credit Report: You decide when and for what purpose your credit report is accessed.

Considerations Before Freezing Your Credit:

  • Impact on Credit Applications: You must unfreeze your credit before applying for loans, credit cards, or mortgages.
  • Process for Unfreezing: You’ll need to contact each credit bureau separately to lift the freeze.
  • Alternative Security Measures: Fraud alerts may be a better option if you plan to apply for credit frequently.

Steps to Freeze Your Credit:

  1. Gather Personal Information: Full name, Social Security number, date of birth, and current address.
  2. Contact Credit Bureaus: Equifax, Experian, and TransUnion each require separate requests online, by phone, or by mail.
  3. Receive Confirmation: Each bureau will provide a PIN or password to manage your freeze.

When to Unfreeze Your Credit:

  • Before Applying for Credit: If you need a loan, mortgage, or credit card.
  • For Employment or Rental Applications: Some employers and landlords check credit reports.
  • Temporarily or Permanently: You can lift the freeze for a set period or remove it entirely.
  • Security Clearance: You do NOT need to unfreeze your credit when completing an SF-86 for a federal government security clearance.

How Long It Can Take:

  • Freezing Credit: Online or by phone—within one business day; by mail—up to three business days.
  • Unfreezing Credit: Online or by phone—within one hour; by mail—up to three business days.

Cost of a Credit Freeze:

  • Cost: Freezing and unfreezing credit is free for all consumers since 2018.

Downsides of a Credit Freeze:

  • Inconvenience: You must unfreeze your credit before applying for new accounts.
  • Not a Complete Solution: Does not prevent fraud on existing accounts.
  • Extra Steps: Requires separate requests for each credit bureau.

How & Where to Freeze Your Credit:

Credit BureauExperianTransUnionEquifax
Websitewww.experian.com/help/credit-freeze/www.transunion.com/credit-freeze?www.equifax.com/personal/credit-report-services/credit-freeze/
Phone888-397-3742800-916-8800888-298-0045
AddressExperian Security Freeze
P.O. Box 9554
Allen, TX 75013
TransUnion
P.O. Box 160
Woodlyn, PA 19094
Equifax Information Services LLC
P.O. Box 105788
Atlanta, GA 30348-5788

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Written by

With over 22 years of experience in military pay and travel entitlements, Charlie Marlow brings his extensive knowledge of military finance with his passion to help others reach their financial goals through common sense financial practices. He is an Accredited Financial Counselor®, a Dave Ramsey trained Financial Coach, and co-founder, administrator, and frequent contributor to the Facebook group Military Money Matters. He still supports the Air Force and DoD as a contractor budget analyst at the Pentagon. When not writing or helping others create a personal financial plan, you can find him cycling around the National Capitol Region or enjoying classic TV shows.

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