{"id":984,"date":"2021-06-07T11:54:37","date_gmt":"2021-06-07T11:54:37","guid":{"rendered":"https:\/\/launchmyscores.com\/?p=984"},"modified":"2021-06-23T15:18:45","modified_gmt":"2021-06-23T15:18:45","slug":"should-i-freeze-my-credit","status":"publish","type":"post","link":"https:\/\/launchmyscores.com\/should-i-freeze-my-credit\/","title":{"rendered":"Should I Freeze My Credit?"},"content":{"rendered":"\n

You may have heard there’s an option to totally freeze your credit file from being accessed by anyone who may be looking to do you and your credit file harm by stealing your identity.<\/p>\n\n\n\n

Also, you may be asking yourself, “should I freeze my credit?” Would your credit be safer from attacks? Can this help or even hurt your credit or your ability to apply for future credit?<\/p>\n\n\n\n

In this post, we’ll cover all the things you’re probably wondering about freezing your credit. But first let’s discuss what freezing your credit actually means.<\/p>\n\n\n\n

In the simplest terms, freezing your credit means you are putting a security freeze or a lock on your credit file that prevents prospective creditors from accessing your credit.<\/p>\n\n\n\n

Creditors typically won’t offer you credit if they can’t access your credit reporting file, so a security freeze, also called a credit freeze, prevents you or others from opening accounts in your name. Security freezes can be useful in preventing an identity thief from opening a new credit account in your name.<\/p>\n\n\n\n

What’s the Difference Between Freezing and Locking My Credit?<\/h2>\n\n\n\n

So yes, there are two ways to prevent access to you credit file \u2013 you can lock it or freeze it. So what’s the difference?<\/p>\n\n\n\n

There is little distinction here except that it’s a bit easier to lock and unlock your credit than it is to freeze and unfreeze. However, freezing is not only free with all three credit bureaus but it’s also protected by law, and last for a minimum of 7 seven years. <\/p>\n\n\n\n

Locking your credit is now free with Equifax and Experian but comes with a $19 month charge to lock your credit with Trans Union.<\/p>\n\n\n\n

In my estimation, it’s better to freeze than to lock your credit.<\/p>\n\n\n\n

Does a Credit Freeze Hurt My Credit?<\/h2>\n\n\n\n

Freezing your credit has no direct impact on your credit score.<\/strong> It certainly will not lower it. Indirectly, freezing your credit can actually help improve your credit score (or at least keep it from dropping), because it prevents unwanted credit lines from being opened in your name.<\/p>\n\n\n\n

A credit freeze also does not \u201cfreeze\u201d your credit score where it is. Your score will continue to rise and fall depending on how responsible you are with your credit.<\/p>\n\n\n\n

Who Can Access Your Credit File When It’s Frozen<\/h2>\n\n\n\n

Locking or freezing your Equifax credit report will prevent access to it by certain third parties. Locking or freezing your Equifax credit report will not prevent access to your credit report at any other credit bureau. Entities that may still have access to your Equifax credit report include: <\/p>\n\n\n\n