Since 2018, American adults have had the right to freeze and thaw their credit report at any time at no charge. When your credit report is frozen, no creditor will have access to your history in order to open a loan. This all but guarantees to eliminate fraudulently opened accounts, even if the identity thief already has your social security number, date of birth, and other personal information.
The process of freezing your credit report is simple:
- On the home page of each of the three consumer reporting agencies (Equifax, Experian, TransUnion), choose the “Security Freeze” link.
- Complete and submit the online questionnaire that requests your name, social security number, birthday, and email address.
- Create a security PIN (a 5- to 10-digit number) required to freeze and thaw your credit report going forward. Keep your PIN in a secure vault, and do not share it with ANYBODY.
That’s it. Your security freeze takes effect immediately.
And don’t worry. A security freeze has no negative effect on your credit rating, and you can thaw it immediately at any time in the future.
So what are you waiting for?
Once you have frozen your own credit report, it would be natural for you to think next of minor children or protected adults for whom you are legal guardian. Is it possible to freeze their accounts? To get your answer to such a great question, stay with us.
