A credit freeze is easy to set up and a smart way to protect against identity theft. When you freeze your credit, you prevent unauthorized access to your credit report. This helps protect against fraudsters opening new accounts in your name even if they have your personal information.
Below, CNBC Select explains how to freeze your credit with each credit bureau and some common questions surrounding credit freezes.
What is a credit freeze?
A credit freeze (also known as a security freeze) restricts access to your credit reports, helping safeguard against fraudsters opening new accounts in your name. There is no effect on your credit score or current credit accounts.
How do I freeze my credit?
There are three main credit bureaus — Experian, Equifax and TransUnion — and you'll need to freeze your credit with each. The process with each can be completed in less than 10 minutes.
- Equifax: Go to the Equifax consumer services center or call 800-349-9960.
- Experian: Contact Experian's security freeze center or call 888-397-3742.
- TransUnion: Go to the TransUnion's website or call 888-909-8872.
You'll need to provide your name, address, Social Security number, birth date and other personal information. You'll typically be asked a few questions to verify your identity and then be asked to create a PIN, which should be kept in a secure location.
When should I freeze my credit?
Experts recommend freezing your credit report so you can proactively monitor your accounts. Checking credit card bills, bank statements or credit reports periodically is helpful, but those actions are reactive and cannot ward off potential fraud.
A credit freeze is a free tool that limits access to your credit reports and can help safeguard against identity theft. While credit reports are a great resource, they're not a fool-proof way to prevent fraud. Credit reports reduce access to your credit and prevent new account openings, but they don't prevent someone from stealing your credit card number.
Who can access my credit once it's frozen?
When you freeze your credit, you limit who has access to your credit report. You'll still have access to your credit and can check your credit report for free.
Fraudsters won't be able to open new accounts in your name — regardless of whether they have your Social Security number or other personal information.
Any banks that you already have relationships with will continue to have access to your credit report. If you request a credit limit increase on your Citi Double Cash® Card, for example, Citi may review your credit report. (see rates and fees.)
Citi Double Cash® Card
Rewards
Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, for a limited time, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24
Welcome bonus
Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
Annual fee
$0
Intro APR
0% for the first 18 months on balance transfers; N/A for purchases
Regular APR
19.24% - 29.24% variable
Balance transfer fee
For balance transfers completed within 4 months of account opening, an intro balance transfer fee of 3% of each transfer ($5 minimum) applies; after that, a balance transfer fee of 5% of each transfer ($5 minimum) applies
Foreign transaction fee
3%
Credit needed
Fair/Good/Excellent
See rates and fees. Terms apply.
Read our Citi Double Cash® Card review.
Government agencies and your creditors and debt collectors can still review your reports, and can companies you've hired to monitor your credit file.
Marketing companies may also have access to your reports. If you want to stop getting prescreened credit offers, opt out by going online or calling 888-567-8688.
How do I unfreeze my credit?
You can unfreeze your credit by going to the same credit bureau websites that you accessed to freeze your credit. You can choose how long you would like the freeze lifted, whether it's one day or permanently.
Online or telephone requests to unfreeze your credit must be fulfilled within one hour, while mail requests must be completed within three days of receiving the request.
Bottom line
Freezing your credit is a useful tool to protect against identity theft. The process is quick, free and won't hurt your credit score.
FAQs
How long does it take to unfreeze credit?
If you request the unfreeze online or by phone, the bureaus are required to lift the hold within one hour. If you request the unfreeze by mail, they have up to three business days to comply.
Does a credit freeze hurt your credit?
Freezing your credit will not negatively impact your credit score.
How much does it cost to freeze and unfreeze credit?
There is no cost to freeze or unfreeze your credit.
How long does a freeze last on your credit report?
A credit freeze will remain in place until you lift it.
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Bottom line
If you're worried about fraud or identity theft, a credit freeze can give you peace of mind. It's quick, free and has no impact on your credit score.
"It's a small inconvenience that offers high levels of protection," Droske said. "I sleep better knowing that no unauthorized third party can access my credit until I say so."
Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit monitoring article is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of financial products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
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