A Guide to Freezing Your Credit Report
A credit freeze is a valuable tool for protecting your credit in case of a data breach. If you put a freeze on your credit report, a credit agency is prohibited from disclosing the report to anyone. Without the ability to check a credit report, lenders won’t extend credit to anyone attempting to open an account in your name.
In the past, freezing your credit required you to pay a fee, as did unfreezing it again. But as of Sept 21, 2018, both implementing and lifting credit freezes with the three major credit reporting bureaus—TransUnion, Equifax, and Experian—became free. As part of the same legislation, which was enacted in the wake of the Equifax breach, free fraud alerts were extended from 90 days to a year.
Read on to learn exactly how to take advantage of these new opportunities to protect your credit.
How to Request a Credit Freeze
If you’re concerned about changes to your credit, it’s not enough to freeze your report at one agency—you have to request a freeze at all three. Each has its own process. The good news is that each agency makes it pretty easy to request a freeze on your credit. You can do it online, by mail, or over the phone.
If you request a credit freeze online or by phone, the freeze must be enacted by the bureau within one business day. If you send the request by mail, the bureau must place the freeze within three business days of receiving your request.
TransUnion
· Online: Go to www.transunion.com/credit-freeze or download TransUnion’s mobile app for Android or iOS
· By phone: 888-909-8872
· By mail: TransUnion LLC, P.O. Box 2000, Chester, PA 19016
You will have to create an account to freeze your credit online. Setting up the account requires you to provide your name, the last four digits of your social security number, your address, and your birthdate. You will also have to answer some security questions. You will choose a 6-digit PIN (or receive one at random if you don’t choose it yourself) from TransUnion to unfreeze your report.
If you choose to request a freeze over the phone, you’ll have to provide similar personal information to the online request, but you won’t need to open any kind of account. If you talk to an agent, you can choose your own PIN. You also have to option of using an automated system, but in that case the PIN will be randomly assigned.
Snail mail is not the most efficient way to request a credit freeze, but if it’s what you prefer you can use it. Send a letter to TransUnion asking to freeze your credit report and letting them know your name, birthdate, and social security number. Include copies of your ID and documents verifying your address, such as utility bills in your name.
Equifax
· Online: Go to www.equifax.com/personal/credit-report-services/
· By phone: 800-349-9960
· By mail: Equifax Information Services LLC, P.O. Box 105788 Atlanta, GA 30348-5788
As with TransUnion, Equifax requires you to create an account if you freeze your credit online, but not if you do it by phone or by mail. The online account will require your name, address, and social security number. Online freezes and unfreezes do not require a PIN. If you use the phone or mail, a 10-digit PIN will be sent to you.
A link to the form required for requesting a freeze by mail can be found here. The list of required documents is on the form and includes one item to prove your identity and another to prove your address.
Experian
· Online: Go to www.experian.com/freeze/center.html
· By phone: 888-397-3742
· By mail: Experian Security Freeze, P.O. Box 9554, Allen, TX 75013
Requesting a freeze from Experian online only requires you to fill out a short form with your name, birthdate, social security number, and address.
Experian asks that mail requests include your full name including your middle initial, your social security number, all of your addresses for the past two years, your birthdate, a copy of a government issued ID card, and a copy of something with your mailing address, such as a utility bill in your name, or a bank statement.
You can choose your own PIN or have one randomly assigned.
Unfreezing Your Credit
Remember all those PINs and passwords you received while placing your credit freeze? Hold on to them, because you need them to unfreeze your credit in most cases. Lifting a credit freeze is also free and you can do both as often as you want.
If you created online accounts to freeze your credit report, you can use the same accounts to lift the freezes. You can also use the same phone and mail contact information to request a lift of the freeze.
If you just want to temporarily lift your credit freeze in order to apply for new credit yourself, see if you can find out which of the three agencies will be used to check your credit and only lift the freeze on that one.
Freeze Your Child’s Account
A child under 16 isn’t using any credit, but an identity thief could steal your child’s data and use it to try and open a credit account in their name. You can now prevent this by putting a freeze on their credit until they’re old enough to use it. This is also totally free at all bureaus. The same service is also available if you are an adult’s guardian, conservator, or have a valid power of attorney.
Americans spent over $1.4 billion on credit freeze fees after the Equifax breach. As of September, you have the chance to proactively protect your credit—for free.