Protect Your Credit in Minutes

Whether it’s in a commercial, on a website, or during a meeting with a financial professional, you’ve probably heard the advice to freeze your credit. You likely know it’s a smart thing to do – but it can feel like one of those tasks that’s going to be complicated, so it’s easy to put off. (At least, that was my experience.)

When I finally sat down to do it, I was surprised by how simple it was. Freezing your credit takes about five minutes per credit bureau, including setting up an online account. Since there are three bureaus – Experian, TransUnion, and Equifax – that’s about 15 minutes total.

Why do I need to do this again?

Even if you’re careful with your personal information, it can still be exposed through a data breach at a company or institution that has it. That company might offer free credit monitoring for a set period. This alerts you to new activity on your credit report, but by the time you get the alert, fraud has already happened. Freezing your credit prevents criminals from opening new accounts in your name, helping you avoid the time, stress, and potential long-term credit damage that comes with disputing fraud.

Think of a credit freeze like adding a lock to your credit file. You control the keys and can temporarily unlock it with each credit bureau whenever you apply for a mortgage, car loan, credit card, or other line of credit. There’s no need to unlock it for soft inquiries, such as checking your credit score, pulling your annual credit report, or employment background checks.

How do I freeze my credit?

You’ll need to freeze your credit with each of the three credit bureaus, which means visiting three separate websites and creating an account for each (unless you’ve set one up already). Be sure to have your current address, email, phone number, and Social Security number handy, as each bureau requires slightly different information to verify your identity. Using a password manager to create and store unique, secure passwords can also make the process easier.

Equifax

• Go to www.equifax.com.
• Create an account or log in if you already have one (use a strong, secure password and save it somewhere safe).
• Decline any special offers that require entering payment information.
• Once logged in, navigate to the Freeze section of the menu.
• Select Freeze and confirm.
• That’s it! Your credit is now frozen with the first of the three credit bureaus.

TransUnion

• Go to www.transunion.com.
• Create an account or log in if you already have one (use a strong, secure password and save it somewhere safe).
• Decline any special offers that require entering payment information.
• From the home page, select Credit Freeze.
• Click Add Freeze and confirm.
• Great work! Your credit is now frozen with two of the three credit bureaus.

Experian

• Go to www.experian.com.
• Create an account or log in if you already have one (use a strong, secure password and save it somewhere safe).
• Decline any special offers that require entering payment information. Experian may strongly promote paid services, but you do not need to purchase anything to freeze your credit – freezing your credit is free.
• Once logged in, scroll to the bottom of the page and locate Security Freeze.
• Toggle the button to freeze your credit.
• Congratulations! Your credit is now frozen with all three credit bureaus. 🎉

How do I unfreeze or “thaw” my credit?

Thawing your credit is even easier than freezing it. When you need to apply for credit, ask the institution you’re working with which credit bureaus they use and when they plan to run your credit. Then, log in to your account with those bureaus and select Unfreeze or Thaw. Choose how long you’d like your credit to remain open and save your selection. Once that period ends, your credit will automatically refreeze. You can always log back in to confirm if you’d like, but it isn’t necessary.

A credit freeze is an effective, low-maintenance way to protect your identity and reduce the risk of credit fraud. It’s well worth the effort.