All You Need to Know About Credit Freezes

In an era where personal data is constantly at risk, protecting your financial identity has never been more important. One of the most effective tools available is a credit freeze—a simple yet powerful way to prevent unauthorized access to your credit report. Whether you're concerned about identity theft or simply want to take a proactive step toward financial security, understanding how credit freezes work can help you make informed decisions.

What is a Credit Freeze?  

A credit freeze restricts access to your credit report, so most companies cannot view your credit file or open new accounts in your name. This makes it difficult for identity thieves to take out loans or lines of credit using your information.

What’s the Difference Between a Credit Freeze and a Credit Lock?

A credit freeze and a credit lock both restrict access to your credit report, but there are key differences between the two measures:

• Credit freeze – involves verifying your identity through each credit bureau (Equifax, Experian, and TransUnion). It provides strong protection and is free to place, lift, and remove.
• Credit lock – a feature offered by the credit bureaus themselves, often as part of a paid service. Unlike a freeze, a credit lock is managed through an app or online portal, making it easier and faster to unlock or lock your credit. But, it may come with a fee and does not have the same legal protections as a freeze.

When Should I Place a Credit Freeze?

You might consider placing a credit freeze in one of these scenarios:

• After being the victim of identity theft or a data breach. Freezing your credit can prevent scammers from opening accounts in your name.
• If you don’t plan to apply for new credit in a while. Freezing your credit can be a proactive way to guard against fraud.
• To protect the vulnerable, such as children or the elderly. Placing a credit freeze on a child’s or elderly person’s credit can safeguard them from identity theft.

How Do I Place a Credit Freeze on My Accounts?

To place a credit freeze, you must contact each of the three major credit bureaus separately. Each bureau has its own process, but the general steps include visiting the credit bureau’s website, verifying your identity, and setting up a password. Once your identity is verified, the credit bureau will confirm that the freeze is in place.

It’s important to note that you’ll need to go through this process with all three bureaus.

How Do I Lift a Credit Freeze?

To lift, or temporarily thaw, a freeze, you’ll need to visit the websites of each credit bureau again. You can choose to specify a duration for the thaw and/or a specific creditor to lift it for. After the specified amount of time, the freeze will automatically resume. Otherwise, just ask for the freeze to be lifted indefinitely.

While unlocking a credit freeze is typically instant, thawing a credit freeze may take up to an hour or longer to process, depending on the bureau.

Credit freezes offer a strong layer of protection against fraud, but they’re not a one-size-fits-all solution. By knowing when and how to use them—and understanding the difference between a freeze and a lock—you can take control of your credit and safeguard your financial future. Whether you're protecting yourself, your children, or elderly family members, a credit freeze is a smart step toward peace of mind in today’s digital world.