Learn how to protect your credit by freezing your credit report. Discover the benefits, costs, and steps involved in securing your personal information against identity theft. This simple yet powerful tactic helps prevent unauthorized access and maintains your financial safety effectively.

According to recent reports, approximately 143 million Americans have experienced data breaches, resulting in the theft of personal information such as names, birth dates, addresses, Social Security numbers, emails, and credit card details. To defend against identity theft and unauthorized access, placing a credit freeze is a highly recommended step. It acts as a protective barrier, preventing anyone from viewing or modifying your credit report without your approval.

A credit freeze restricts lenders and third parties from accessing your credit history, making it harder for criminals to open fraudulent accounts using your data. You retain control over lifting or reapplying the freeze when needed, and relevant government agencies can access your report for legal purposes. Note that a credit freeze does not negatively impact your credit score.

Fees for initiating a freeze typically range from $5 to $20, though some qualify for free freezes, such as seniors or military personnel. Requests can be made through Experian, TransUnion, or Innovis via phone, online, or mail. While phone requests are swift, visiting in person can offer added security. Be prepared to provide identification like a passport or proof of residence; police or DMV reports may be required in cases of identity theft.

Once in place, a credit freeze can usually be activated or lifted within three business days. Staying proactive about managing your freeze is especially important if you plan to apply for new credit or loans. Overall, freezing your credit is an effective measure to protect yourself from identity theft and preserve your financial security.