Locking Your Credit File

A credit freeze is guaranteed by law whereas a credit lock is a product offered by the bureaus.

Locking your credit file.

If you don t plan on applying for any new credit in the near future and your state doesn t allow credit freezing fees a freeze may be the way to go. Locking your credit is a simple and effective way to help keep others from fraudulently opening new credit cards or taking out loans in your name. A credit freeze locks down your credit. Freezing locking or applying for fraud alerts on your credit reports are all options for protecting your credit history after confirmed or suspected identity theft or fraud.

Freezing your credit is an extreme step but it s something that might be necessary if you re dealing with identity theft and other measures such as fraud alerts haven t been effective for you. It s also faster to put in place and lift than a credit freeze and is free at two of the major credit bureaus. For example if you provide a telephone number the business must call you to verify whether you are the person making the credit request. In particular there s confusion on the difference between freezing your credit at experian we call it a security freeze and locking your credit.

You log in and lock your transunion and or equifax credit reports. When locked your experian credit file is not accessible to. Both freezing and locking prevent potential lenders from accessing your credit file and a preventative measure to protect against identity theft. Unlocking either or both reports is just as easy as locking them.

If someone applies for credit in your name access is denied. The two biggest advantages of a lock are the ease with which you can lock and unlock your report at. A credit lock also known as a security lock has the same result as a credit freeze but it s easier and quicker to lock and unlock your credit than to freeze and un freeze or thaw it. A credit freeze is something you can put in place to limit others from viewing your credit reports including lenders.

Locking your credit is a procedure that can help prevent identity theft and credit fraud by blocking access to your credit report. A credit lock allows you to easily lock your credit file helping to protect you against identity theft and unwanted credit activity. A fraud alert allows creditors to get a copy of your credit report as long as they take steps to verify your identity.