credit bureaus to freeze your credit: Equifax, Experian, and TransUnion. Since a freeze prevents creditors from looking at your file, this is one of the best ways to protect your name and credit if your personal information has been compromised.Ī freeze can also lower the risk of being a victim of identity theft. Without a freeze, lenders and creditors can view your history whenever you submit an application for credit.Īnd unfortunately, they can also access your report when someone else applies for an account in your name. What is a Credit Freeze?Ī credit freeze restricts access to your credit report. So if you want to prevent the misuse of your information, you might consider a credit freeze.
To put it plainly, the contents of your report determine your creditworthiness.įor this reason, it’s important to safeguard your credit. They can review your existing accounts, and gauge how well you manage these accounts. Whether you’re applying for a credit card, an auto loan or a mortgage, creditors will request authorization to check your credit history. Your credit report contains highly sensitive information.
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