Want to make sure no one opens new credit in your name? It’s as easy as requesting a freeze. A credit freeze prevents lenders from checking your credit, which in turn means that no one can use your personal information to open a credit card or take out a loan. You’ll still be able to check your credit report, and you can still use your existing accounts when your credit is frozen.
Credit bureaus used to charge fees every time you wanted to freeze or unfreeze your credit. But now it’s free for everyone. To freeze yours, visit each credit bureau’s website—Equifax, TransUnion, and Experian—to create a free account with each. You’ll log in to that account whenever you want to make a change to your freeze status. Remember to unfreeze your profile with each bureau before you apply for new credit!
This is one of those money tasks that takes a few minutes to set up but serves you in the long run. You probably don’t even apply for new credit that often yourself, so there’s no reason not to freeze your credit.