A credit freeze is easy to set up and a smart way to protect against identity theft. When you freeze your credit, you prevent unauthorized access to your credit report. This helps protect against fraudsters opening new accounts in your name even if they have your personal information.
Below, CNBC Select explains how to freeze your credit with each credit bureau and some common questions surrounding credit freezes.
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Plans from $10 to $32 per month, billed annually
Protects against identity theft, fraud, spam calls and websites, viruses and malware. Offers three-credit-bureau monitoring, VPN, dark web monitoring, password manager, email aliases and instant credit lock.
On Aura's site
From $7.50 to $25.00 per month, billed annually on individual plans and $12.50 to $33.33 per month, billed annually on family plans
Up to $1 million in insurance for eligible losses from identity theft
On Identity Guard's site
What is a credit freeze?
A credit freeze (also known as a security freeze) restricts access to your credit reports, helping safeguard against fraudsters opening new accounts in your name. There is no effect on your credit score or current credit accounts.
How do I freeze my credit?
There are three main credit bureaus — Experian, Equifax and TransUnion — and you'll need to freeze your credit with each. The process with each can be completed in less than 10 minutes.
- Equifax: Go to the Equifax consumer services center or call 800-349-9960.
- Experian: Contact Experian's security freeze center or call 888-397-3742.
- TransUnion: Go to the TransUnion's website or call 888-909-8872.
You'll need to provide your name, address, Social Security number, birth date and other personal information. You'll typically be asked a few questions to verify your identity and then be asked to create a PIN, which should be kept in a secure location.
Alternatively, you can use an identity monitoring platform like Aura to freeze and unfreeze your credit without having to go through each of the credit bureaus. Users have 24/7 access to Aura's team, which will notify your creditors and the credit bureaus and work to freeze your credit so fraudsters can't do further damage.
As part of its identity monitoring service, Aura sends you an alert if your Social Security number, driver's license, passport, email or other information has been found on the dark web or if important accounts have been breached. While you'll pay a fee for Aura's services ($9/month billed yearly for the individual plan), you also get a level of service and protection that you won't have with a simple credit freeze.
Aura
Cost
Kids: $13 per month or $10 per month billed annually; Individual: $15 per month or $12 per month billed annually; Couple: $29 per month or $22 per month billed annually; Family: $50 per month or $32 per month billed annually
Standout features
Protects against identity theft, fraud, spam calls and websites, viruses and malware. Offers three credit bureau monitoring, VPN, dark web monitoring, password manager, email aliases and instant credit lock.
Identity theft insurance
All plans include at least $1 million and white-glove fraud remediation
Terms apply.
When should I freeze my credit?
Experts recommend freezing your credit report so you can proactively monitor your accounts. Checking credit card bills, bank statements or credit reports periodically is helpful, but those actions are reactive and cannot ward off potential fraud.
A credit freeze is a free tool that limits access to your credit reports and can help safeguard against identity theft. While credit reports are a great resource, they're not a fool-proof way to prevent fraud. Credit reports reduce access to your credit and prevent new account openings, but they don't prevent someone from stealing your credit card number.
Who can access my credit once it's frozen?
When you freeze your credit, you limit who has access to your credit report. You'll still have access to your credit and can check your credit report for free.
Fraudsters won't be able to open new accounts in your name — regardless of whether they have your Social Security number or other personal information.
Any banks that you already have relationships with will continue to have access to your credit report. If you request a credit limit increase on your Citi Double Cash® Card, for example, Citi may review your credit report.
The Citi Double Cash® Card is one of the best no-annual-fee cash-back cards thanks to its straightforward rewards structure. Card is one of the best no-annual-fee cash-back cards thanks to its straightforward rewards structure.
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
- Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, earn 5% total cash back on hotel, car rentals and attractions booked with Citi Travel.
- Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 17.49% - 27.49%, based on your creditworthiness.
- Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
- If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
- There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
Balance transfer fee
There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. A balance transfer fee of 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening.
Foreign transaction fee
3%
Government agencies and your creditors and debt collectors can still review your reports, and can companies you've hired to monitor your credit file.
Marketing companies may also have access to your reports. If you want to stop getting prescreened credit offers, opt out by going online or calling 888-567-8688.
How do I unfreeze my credit?
You can unfreeze your credit by going to the same credit bureau websites that you accessed to freeze your credit. You can choose how long you would like the freeze lifted, whether it's one day or permanently.
Online or telephone requests to unfreeze your credit must be fulfilled within one hour, while mail requests must be completed within three days of receiving the request.
FAQs
How long does it take to unfreeze credit?
If you request the unfreeze online or by phone, the bureaus are required to lift the hold within one hour. If you request the unfreeze by mail, they have up to three business days to comply.
Does a credit freeze hurt your credit?
Freezing your credit will not negatively impact your credit score.
How much does it cost to freeze and unfreeze credit?
There is no cost to freeze or unfreeze your credit.
How long does a freeze last on your credit report?
A credit freeze will remain in place until you lift it.
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At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit monitoring article is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of financial products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
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