Securing Your Identity with a Credit Freeze

Did you know you can place a security freeze on your credit reports? Freezing your credit is a free and simple way to protect yourself from identity theft. Keep reading to learn more!

Personal information is frequently exposed in data breaches. Most people will have their personal information exposed from a data breach at one time or another. Having your credit frozen is a great way to prevent others from misusing your information. When your credit is frozen, people won’t be able to open credit cards or take out loans in your name because creditors won’t be able to check your credit. You can freeze your credit even before your information has been involved in a data breach or your identity is stolen. A credit freeze stops everyone, including you, from opening new lines of credit so it can also be helpful if you struggle with impulsively opening new credit cards.

How do I freeze my credit?

You can freeze your credit for free with each of the three credit bureaus online: Equifax, Experian, and TransUnion. The fastest and easiest way to freeze your credit is by creating free online accounts with each bureau. You can also place a freeze by phone or mail. When requesting a freeze by mail, you’ll need to send in a written request that includes your name, address, and Social Security number. Although not required, it can be helpful to also send in copies of identifying documents that show your name and current address (like a driver’s license, bank statement, or utility bill). The credit bureaus won’t send your documents back to you, so make sure you’re only sending copies of your identifying documents and not the originals. Equifax has a form you must fill out and send in if you’re freezing your credit by mail (you don’t need to fill out the form if you use an online account).

When placing a freeze online or by phone, it typically takes effect immediately but can take up to one business day.  It can take several weeks for a credit freeze to take effect when doing it by mail.

What if I need to use credit after freezing my reports?

You can continue to use any credit cards you already have and make payments on your loans. Credit freezes don’t impact existing lines of credit or influence your credit score; they only stop new credit from being opened. If you are applying for a new credit card or loan, you can temporarily lift the freeze. Lifting the freeze is quick and easy and follows the same steps you took when placing the freeze. When applying for new credit, you can ask the lender which credit bureau they use to check your credit, so you only need to unfreeze your credit from one bureau. And don’t forget to put the freeze back on once they’ve pulled your credit report to keep your identity secure!

Can I freeze my minor child’s credit report?

If you have a minor child, it could be a good idea to freeze their credit too. A minor’s credit cannot be frozen with the same online accounts adults use to freeze their credit. Equifax has a form for this that can be mailed to the address listed in the chart above along with proof of the guardian’s and the child’s identity. Experian has a similar process with an online form they’ll ask you to fill out and then print and mail it to the address listed in the chart above along with copies of identifying documents (like your ID, the child’s birth certificate, and proof of address).

TransUnion asks parents or guardians to submit the Child Identity Theft Inquiry form online. They will use this form to check for identity theft and then walk you through how to freeze your child’s report. You can place a freeze even if there is no identity theft.

Freezing your credit is one of the easiest ways to help protect your identity. If you need help placing a credit freeze, a Financial Coach at Northwest Access Fund can help!