Placing a Credit Security Freeze is a simple and inexpensive way for you to freeze and thaw your credit file. A credit freeze only allows the applications for credit and services that you authorize to be processed. This is best way possible to slow down identity theft.
A credit freeze will lock out any new credit from being established until you use a PIN number. This would place a temporary credit thaw on your account. Placing a credit freeze on your credit file does not affect your current use of credit in any way.
When you place a credit security freeze on your file, the credit reporting companies will still allow you to see your credit report file online. But please be aware that using a credit security freeze may delay the approval of any new car loans, credit cards, mortgage, insurance, rental housing, employment, cellphone service, utilities and internet purchases. Before applying for any new credit you must always thaw your credit security freeze.
A credit security freeze will not apply for any existing account relationships you have. These companies will still have access to your credit report and score when needed for of account reviews, bill collection, fraud or similar activities.
The cost to freeze your credit varies from $0 to $10 per credit bureau. And seeing that there are three credit bureaus, Equifax, Experian and Transunion, you would pay upto $30 for a credit freeze. The fees to thaw your credit file are also from $0 to $10 per credit bureau.
In some states, credit freezes are free for those 65 and over and for victims of identity theft. Credit security freeze requests may be done either online or by certified mail.
Placing A Credit Security Freeze
So if you have any concerns about identity theft scams. Putting a credit security freeze on your file will help you sleep better each night.