A credit freeze locks your credit reports so no one can open new accounts in your name until you lift it. It is free, it does not affect your credit score, and you set it up with each of the three credit bureaus. It is one of the strongest steps you can take to stop identity theft.
What a credit freeze does
A freeze stops lenders from seeing your credit file, so a thief cannot open a loan or card in your name. Your existing accounts keep working as normal. A freeze is free by federal law, and placing one does not lower your score.
How to freeze your credit
Contact each of the three credit bureaus, Equifax, Experian and TransUnion, and ask for a security freeze. You can do it online, by phone or by mail. Each bureau gives you a PIN or lets you set up a login. Keep those details safe, because you need them to lift the freeze later.
Lifting the freeze when you need credit
When you want to apply for a loan, a card or a phone plan, you unfreeze your reports, either for a short window or for one specific lender. It is free to lift and free to put back. Plan a day or two ahead so the timing does not hold up your application.
If you think you are already a victim
Freeze your reports first, then check them for accounts you do not recognize. You are entitled to free copies of your reports, and you can report identity theft and get a recovery plan through the Federal Trade Commission.
Common Questions
Does a credit freeze hurt my credit score?
No. A freeze does not affect your score at all. It only controls who is allowed to see your credit file.
Is a credit freeze really free?
Yes. Placing, lifting and removing a freeze is free at all three bureaus, for you and for anyone in your household, including children.
Will a freeze stop me getting a loan?
Only while it is on. Lift the freeze before you apply, either for everyone or just for the lender you are working with, and your application can go ahead as normal.
Before your next payday
Protecting your money is part of managing it well. For a short-term need before payday, find your nearest American Cash Advance branch across Louisiana and Mississippi, or start your application online.