Freezes can be temporarily or permanently removed when you want.īecause creditors run credit checks with any one or a combination of the three big credit bureaus, you need to block access to your reports with all three. You can easily remove a freeze or “thaw” your credit report when you want to apply for new credit. In fact, freezes help protect your score by preventing your credit from being negatively scored if someone racks up debt in your name. (Consumer reporting agencies are also known as credit bureaus.) By blocking creditors from accessing your credit report, you’re stopping identity thieves who apply for new accounts in your name with your stolen Social Security number.Ĭredit freezes do not affect your ability to use existing credit you already have, such as a credit card or loan. Most creditors will not issue new credit to a customer if they cannot see that customer’s credit report or the credit score derived from it from at least one of the three big nationwide consumer reporting agencies – Equifax, Experian, and TransUnion. What Are Credit Freezes & Why Should I Get Them?Ī credit freeze blocks potential creditors such as a credit card company, a cell phone company, or a lender from viewing your credit report, which shows your credit history. New account identity theft is the most preventable kind of identity theft and can be prevented by getting security freezes, also known as credit freezes. One of those uses is known as new account identity theft, where someone opens a new account in your name and then proceeds to rack up a ton of debt. However, if and when someone does steal your information, there are a variety of ways it can be used, depending on what was taken. Defense against any kind of identity theft starts with vigilance about protecting your personal information by taking steps such as creating secure passwords, keeping your social security number private, and shredding personal documents.
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