Consumers can now freeze their credit for free under a new federal law.
A credit freeze restricts access to your credit file, essentially halting anyone from opening any new credit in your name.
The rules used to vary by state, but previously it could cost up to $10 to put a freeze in place.
How do you freeze someone’s credit?
You can place a free credit freeze on your Experian credit report through the Experian Freeze Center or by calling 1-888-EXPERIAN (1-888-397-3742). Each credit reporting agency, like Experian, has a web page where you can request security freezes and fraud alerts. You may also submit your request by mail.
Are credit freezes now free?
Freezing your credit is free in all states under a new law following Equifax breach. One of the best ways to protect yourself from identity theft is now free. As of Sept. 21, a new federal law allows people to freeze and unfreeze their credit at the three major credit bureaus without being charged.
How long is a credit freeze in effect?
A credit freeze will remain in effect until you choose it lift it yourself, either temporarily or permanently, unless you live in a state that limits the freeze to seven years. You just need to know how to do the initial freeze with each credit bureau. Once that’s done, it will remain in effect as long as you wish.
Who do I call to put a freeze on my credit?
How do I place a freeze on my credit reports?
- Equifax. Equifax.com/personal/credit-report-services. 800-685-1111.
- Experian. Experian.com/help. 888-EXPERIAN (888-397-3742)
- Transunion. TransUnion.com/credit-help. 888-909-8872.
Does it cost to freeze credit?
You will soon be able to freeze your credit report for free, a step that can help protect you from identity theft. But under current state laws, there is often a fee to place and lift a credit freeze Most security freezes cost between $2 and $10, though several states have already made them free.
Can you freeze someone else’s credit?
We have good news: The federal government has now made it possible for you to freeze and unfreeze your credit for free. Even better news if you’re a guardian, fiduciary, conservator or have a power of attorney for someone, you can now freeze that person’s credit as well.
Does freezing your credit card hurt your credit?
Freezing your credit won’t hurt your score, but it will keep an identity thief from opening new accounts in your name. A credit freeze does not affect your credit score, but it can keep you from being approved for a new credit card or a loan.
When should I freeze my credit?
Credit reporting agencies have three business days to lift a freeze upon receiving your request. Keep in mind, a credit freeze does not apply to current creditors. They can still access your credit reports.
Where do I get my credit report for free?
Answer. You’re entitled to one free copy of your credit report every 12 months from each of the three nationwide credit reporting companies. Order online from annualcreditreport.com, the only authorized website for free credit reports, or call 1-877-322-8228.
Photo in the article by “Wikimedia Commons”