Freezing Your Credit at All Three Bureaus

Think of your credit file as a front door. A thief with your Social Security number does not need your house key. A freeze changes the lock.

What a freeze does

The FTC says that while a credit freeze is in place, nobody can open a new credit account in your name, including you. That last part surprises people. It is the point.

The FTC also says there is no cost to place or lift a credit freeze, and it does not affect your credit score.

You do not need a reason

You can freeze before anything goes wrong. The FTC says anyone can freeze their credit report, for any reason, even if their identity has not been stolen. A leaked password email is reason enough for most people.

One freeze is not enough

There are three bureaus, and each keeps its own file. The FTC says to contact all three of the credit bureaus: Equifax, Experian and TransUnion. Skip one and that door stays open.

When you need credit again

Applying for a loan or a lease? The FTC says you can temporarily lift the freeze and put it back when you are done. Ask the lender which bureau it checks. Then thaw only that one.

A freeze lasts until you lift it, the FTC says. So set it once, write down where you saved each PIN or login, and leave it alone until a lender needs a look.

If you also lost money to a scammer, start with the first hour after you pay a scammer.