How and Why to Freeze Your Credit

Picture this: You're enjoying your morning coffee when your phone pings with an alert—a credit card you've never seen before just appeared on your credit report. Someone has opened accounts in your name, accumulated thousands in debt, and your hard-earned credit score has plummeted.

This isn't fiction—it's identity theft, and it affects millions of people each year. But here's the encouraging news: you can prevent this with one simple, free action—freezing your credit. Let's explore why this matters and how you can protect yourself.

Why Freezing Your Credit Makes Sense

Identity theft isn't just a buzzword—it's a growing reality. In 2023, the Federal Trade Commission documented over 1.1 million cases with losses exceeding $10 billion. Once someone obtains your Social Security number or personal information, they can apply for loans and credit cards as if they were you.

A credit freeze creates a secure barrier around your credit file. When frozen, no one—including you—can access your credit report to open new accounts unless you specifically unlock it. No credit checks means no new approved accounts. Better yet, it's completely free, thanks to legislation passed in 2018.

I recently spoke with a friend—let's call her Nancy—who postponed freezing her credit. She later discovered someone made expensive purchases in her name. After months of stress, legal consultations, and credit disputes, she wished she'd taken fifteen minutes to freeze her credit earlier. You can avoid this experience.

Understanding Credit Freezes

Your credit report functions like a backstage pass to your financial life—it's what lenders review before approving loans or cards. A credit freeze essentially tells the gatekeepers (Equifax, Experian, and TransUnion) "No access without my permission."

Some reassuring facts:

• A freeze doesn't affect your credit score—it's simply a protective barrier
• You can continue using your existing credit cards and accounts normally
• When you need to apply for credit, you can temporarily "thaw" your freeze in minutes

How to Freeze Your Credit: A Simple Guide

Freezing your credit is straightforward. You'll need to contact each of the three credit bureaus separately (they don't communicate with each other about freezes). Here's how:

Step 1: Visit the Official Websites (or Call)

• Equifax: equifax.com/personal/credit-report-services/ or 1-888-Equifax (1-888-378-4329)
• Experian: experian.com/freeze/center.html or 888-Experian (1-888-397-3742)
• TransUnion: transunion.com/credit-freeze or 800-916-8800

Step 2: Complete the Form

Each site requests basic information—name, address, and Social Security number. The process is quick and similar to signing up for an online service.

Step 3: Create Your Security Credentials

You'll receive a unique code to unlock your freeze later. Store this securely, either in a safe place at home (not your wallet) or in a password manager.

Step 4: Confirm Completion

You'll receive confirmation by email or letter, usually within a day for online requests and a bit longer for phone requests.

Important note: Be sure to freeze your credit with all three bureaus. Identity thieves only need access to one report to cause significant damage.

Common Misconceptions About Credit Freezes

Let's address some common concerns:

"It's permanent."

Not at all—you can lift it temporarily or permanently whenever needed.

"It's difficult to unfreeze."

Online or by phone, the process typically takes minutes or a few hours at most.

"Only overly cautious people do this."

Actually, prudent people do this. With the FTC reporting that 1 in 4 Americans will experience identity theft, taking precautions is simply smart financial management.

When to Freeze (and Temporarily Thaw) Your Credit

Consider freezing your credit now if:

• You're not planning to apply for new credit soon
• You've been involved in a data breach (check haveibeenpwned.com)
• You value financial peace of mind

Temporarily thaw your credit when:

• You're applying for a mortgage, car loan, or new credit card
• You're job hunting (some employers check credit)
• You're switching utility providers

I froze my own credit after learning about a data breach at a retailer I frequent. The process took about 15 minutes, and I've had greater peace of mind ever since.

Take a Step Toward Financial Security Today

Identity theft doesn't announce itself—it strikes unexpectedly. Freezing your credit is perhaps the most effective "set it and forget it" defense available. It's free, quick, and reliable. Why not take this step today? Visit those websites, secure your credit, and share this information with friends and family—because no one deserves to experience what Nancy went through.

For more details and resources on protecting your financial identity, visit my full guide at krichardlabbe.com. Together, we can keep our financial information secure.

Every effort has been made to ensure the accuracy and reliability of the information presented in this material. However, Labbe Media, LLC does not assume liability for any errors, omissions, or discrepancies. The content is provided for informational and educational purposes only and should not be considered professional advice. Viewers are encouraged to verify any information before making decisions or taking actions based on it.