Should You Freeze Your Credit?

Have you ever received a letter in the mail saying your personal information was stolen in a data breach? I have received many of these letters, and I wish I had frozen my credit right away.

Over the next few years, I experienced the following:

• While reviewing my credit reports, I discovered a credit card in my name that I did not know about, as well as a home address in another state that was not mine.

• I started receiving phone calls from a debt collector about a debt in my name that I did not know about.

• I later received calls from a digital wallet company about a debt in my name that I did not authorize.

• I found approximately $400 taken from my checking account without my approval.

I spent countless hours filing police reports and affidavits and faxing information to prove I did not know about or authorize these loans and transactions. Although I did not end up owing any money on the loans and the $400 was returned to my account, the process was stressful and time-consuming. I definitely do not want to repeat these experiences.

What Is a Credit Freeze?

A credit freeze blocks access to your credit report so new accounts cannot be opened in your name:

• A credit freeze is among the strongest preventative measures against identity theft and fraud.

• Equifax, TransUnion, and Experian, the three main credit bureaus, let you freeze your credit.

• If a scammer accesses your information and tries to secure a credit card or loan in your name, a credit freeze blocks lenders from accessing your credit report.

• Without a credit report, the lender cannot obtain the information required to approve the application.

• You can unfreeze your credit to apply for new credit, such as a car loan or mortgage, and refreeze it as needed.

Should You Freeze Your Credit?

Based on my experience with identity theft, I highly recommend freezing your credit to avoid the stress and sleepless nights of dealing with unauthorized credit cards and loans in your name. You should freeze your credit if you fit any of the following criteria:

• You want to protect yourself against identity theft.

• A company notified you that your data was part of a data breach.

• You suspect your personal information was compromised.

• You set up fraud alerts on your credit report and were notified about a new credit card account.

• You are not actively applying for credit.

How to Freeze Your Credit

You can freeze your credit online, by phone, or by mail:

• You must contact Experian, TransUnion, and Equifax separately.

• Although the process for freezing your credit is similar, each credit reporting agency has a slightly different process.

• Each credit bureau’s website has complete instructions on how to freeze your credit.

How to Freeze Your Credit on Equifax

• Online: Go to www.equifax.com to set up a password-protected myEquifax account. You must provide your name, address, Social Security number, and other identifying information.

• By Phone: Call 888-298-0045. You must answer security questions to verify your identity.

• By Mail: Complete a security freeze request form, available at equifax.com. You must include your full name, address, Social Security number, date of birth, and copies of documents that verify your identity and address, such as a valid driver's license or state ID, tax documents, pay stubs, or utility bills.

Send the completed form and documents to: 

Equifax Information Services LLC 

P.O. Box 105788 

Atlanta, GA 30348-5788

How to Freeze Your Credit on TransUnion

• Online: Go to www.transunion.com and set up a free account through the TransUnion Service Center. You must provide your name, address, Social Security number, and other identifying information.

• By Phone: Call 800-916-8800. You must provide basic information, such as your name, address, birthdate, and Social Security number, and you might be asked some personally identifying questions.

• By Mail: Send a written request that includes your name, address, Social Security number, and photocopies of one proof of your Social Security number and two proofs of your current address. 

Mail your request and documents to:

TransUnion 

P.O. Box 160

Woodlyn, PA 19094 

How to Freeze Your Credit on Experian

• Online: Go to www.experian.com to sign up for a free Experian account. You must provide the last 4 digits of your Social Security number and your contact information.

• By Phone: Call 888-397-3742. You must provide personal information, such as your Social Security number.

• By Mail: Send a credit freeze request letter to Experian. Your request should include your full name, Social Security number, complete addresses for the past two years, date of birth, a copy of a government-issued identification card such as a driver's license, and a copy of a utility bill or bank statement.

Mail your request letter and documents to: 

Experian Security Freeze 

P.O. Box 9554 

Allen, TX 75013

Can Anyone Access Your Credit Report After It Is Frozen?

After your credit is frozen, the following people are authorized to access your information:

• You

• Existing creditors

• Collection agencies

• Debt collectors

• Marketers

• Prospective employers, if you allow access to certain parts

• Government agencies, under certain circumstances

• Child support agencies, under certain circumstances  

How Can You Unlock a Credit Freeze?

You can easily unfreeze your credit with Equifax, TransUnion, and Experian for 24 hours or longer:

• If you created an online account, you can sign in to manage your credit freeze.

• You can call the customer service number at each credit bureau.

• You can mail each bureau a written request and required documents to unfreeze your credit.

*This information is for educational purposes only.

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