You can lift a credit freeze with Experian instantly by going to the bureau’s website, and you’ll need your PIN to remove the block. See related: Should I periodically replace my card to deter fraud? How to lift a credit freeze A fraud alert is a little less restrictive than a credit freeze, but it still helps protect you. That way, they won’t pull your credit unless they can verify that you actually want to take out a loan or open a new account. But if you’re more concerned with identity theft, you may opt to keep the freeze in place longer.Īnother option is to lift the freeze but place fraud alerts on your account so that lenders will call you every time they receive an application in your name. If you feel confident that your data is secure, you may prefer to lift the freeze altogether. Ultimately, it comes down to your comfort level. On the other hand, placing temporary lifts is a small price to pay for security and peace of mind. Or, if you feel that your information is safe again, you can lift the freeze so you don’t have to remember to do it each time you want to open a new credit card or apply for a loan. If you’re applying for loans with several lenders – when you’re buying a home, for instance, and want to get quotes from different companies – placing temporary lifts for all of them may become tiresome, so you might choose to remove the freeze permanently. When should you permanently lift a credit freeze? You’ll need to get one-time PINs for every creditor you apply with while the freeze is in place. Simply go to the Experian website and request the special PIN, then provide that number to your prospective lender. If you need to apply for a loan or credit card but don’t want to unfreeze your credit permanently, you can give the creditor one-time access to your Experian file by creating a single-use PIN. That means you can’t open a new loan or card while it’s in place, but you won’t take a hit for having an active freeze.Ī credit freeze can prevent damage to your score since no one can open accounts and run up huge balances without your permission. It simply blocks lenders from making a credit inquiry. Does a credit freeze hurt your credit score?Ī credit freeze does not impact your credit score or history. Unlike freezing your own credit, however, you must mail in a freeze request, along with supporting documentation. Same goes for anyone you’re caring for who is incapacitated and can’t advocate for themselves, and for whom you have a power of attorney document. If your child’s information has been compromised, you can place a hold on their credit file as well. You can also call Experian or mail in a credit freeze request. There’s no cost for placing a credit freeze, according to federal law, and it will take effect immediately if you place the request online. You’ll also need to create a PIN, which you’ll use to remove the freeze when you’re ready. To freeze your credit with Experian, simply go to the Experian website and input your name, address, Social Security number, date of birth and email address. The tips below are specific to Experian’s credit freezing process. It’s important to know that you have to file a credit freeze request with the three major credit bureaus, which are Experian, Equifax, and TransUnion. Placing a hold as soon as you know you’ve been exposed will help you avoid having your money stolen or your credit destroyed. When that happens, you don’t know if the fraudster simply got a hold of your card information or whether they have the data to take out loans or credit lines under your name. You may also want to place a credit freeze if you’ve noticed fraudulent charges or withdrawals on your existing accounts. PII refers to details such as your name, address, birth date, Social Security number and driver’s license number. See related: What you need to know about common identity theft techniques When should you freeze your credit?Īny time your personally identifiable information (PII) is stolen or exposed through a data breach, you should consider freezing your credit. Even if an identity thief has your personal information, they won’t get far in opening a new account if your credit data is blocked. A credit freeze prevents lenders from pulling your credit score or history to open a new loan or credit card. There is a way you can fight back, however, and that is by freezing your credit. But your score can be jeopardized if your personal data gets hacked or someone fraudulently opens accounts in your name. One of the best things you can do for your finances is protect your credit.Ī good credit score and history are essential to getting loans and credit cards, not to mention qualifying for low interest rates.
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