It’s important to make sure your credit score doesn’t fall victim to identity theft, which can happen when thieves steal your personal information and use it to open new accounts in your name.
One of the most effective ways to protect yourself against this is by placing an Experian credit freeze on your account. A credit freeze prevents anyone from opening new accounts or making changes to existing ones without first obtaining your express permission or providing proper identification.
If you want to get an Experian credit freeze, here’s how you can do it.
What is a Credit Freeze?
A credit freeze, sometimes called a security freeze, is a consumer right that allows you to restrict access to your personal credit information. It stops potential creditors from being able to view your credit reports and score without your express permission.
When Should You Consider Freezing Your Credit Report?
Besides being a victim of identity theft, there are several other reasons you may consider freezing your credit report. You can decide to protect your credit if:
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- You notice new and suspicious inquiries from unrecognized lenders
- You receive unexplained bills on your credit card with unknown names
- Any member of your family has been a victim of identity theft
- You are applying for credit and don’t want someone else to see your report.
- You have been a victim of a data breach.
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How Can You Freeze Your Experian Credit Report?
If you’re concerned about identity theft or would like to take a break from credit checking for a few months, you can freeze your Experian credit report in the following three ways:
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Freezing Your Experian Credit Report Via Postal Mail
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You can freeze your credit report via postal mail. All you have to do is send a letter to Experian Security Freeze address with the following details:
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- Your full name
- Social Security number
- Date of birth
- Your current address
- A copy of any form of government identification, such as passport, state-issued I.D, or driver’s license.
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Once you’ve sent in your request, there is a three business day waiting period before you can get any response from this agency.
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Freezing Your Experian Credit Report by Phone
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If you feel like freezing your Experian credit report via postal mail is too much involving, you can consider doing it by phone. Simply call the Experian Security Freeze number to make your request.
Your request will be processed within one business day. You will also receive a PIN that you can use in the future to lift or remove your credit freeze.
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Freezing Your Experian Credit Report Online
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To freeze your Experian credit report online, head on to the Experian website first. While on the site, you will have to fill in some details, including your full name, social security number, date of birth, and email address. Just like when requesting a credit freeze by phone, you will also be given a PIN that you can use to lift your security freeze.
Should You Freeze Your Child’s Credit?
If you are a parent, you can also freeze your children’s credit reports to protect them against identity theft. To complete this process, you must fill a special form and mail it to the Experian Security Report address. You will have to provide your identification information alongside the minor’s details.
The Minor’s information must include:
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- Their full name
- Date of birth
- Current and previous mailing addresses dating back up to two years
- Social Security number
- A copy of their birth certificate
- A copy of their Social Security Card
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Does Freezing Your Credit Affect Your Credit Score?
No, freezing your credit report won’t affect your credit score. For instance, if you had an 821 credit score at Experian, the figure won’t drop. A credit report freeze will only prevent creditors from reviewing your credit history when you are applying for a loan.
To allow lenders to evaluate your application again, you will have to thaw your credit report first. This process might take time to complete. Therefore, you better start early, especially if you need the money for an emergency.
Credit Freeze Pros and Cons
While freezing your credit can save you from financial fraud, it may also have some shortcomings. The following are some credit freeze pros and cons.
Pros
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- Protects your credit card from financial fraud and identity theft
- Freezing and unfreezing your credit is free
- It won’t affect your credit score negatively
- It is easier and quicker to freeze and unfreeze your credit by phone and online
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Cons
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- It doesn’t offer full protection to your credit file
- Lenders can’t view your credit score until you unfreeze your report
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Can You Lift a Credit Freeze?
You can always unfreeze your credit report any time you need to check your credit history. To do this, contact Experian Credit Freeze and provide your identification details. You will be asked to provide your PIN before your credit is thawed. If you forgot your PIN, the credit bureau will take you through a verification process that involves answering simple questions like where you went to school.
Comparison Between Credit Freeze and Fraud Alert
Unlike a credit freeze that restricts access to your credit report, a fraud alert requires creditors to verify your identity before granting any new credit in your name. The main difference between these two identity theft prevention tools is how they are used.
Once you place a fraud alert on your credit report with one of the major credit bureaus, any business requesting an additional form of identification beyond your Social Security number or birth date will have to contact you first. With a fraud alert, creditors have to do extra work to make sure you’re who you say you are before issuing new lines of credit in your name.
Once You Request Your Experian Credit Freeze
Now that you’ve filed a freeze request with Experian, it’s time to monitor your credit reports from other agencies such as Equifax and TransUnion. Should someone try to apply for credit in your name, a lender will see that a security freeze is in place and halt the process. Finally, keep your PIN safe from the wrong hands.
Featured Image: Megapixl
