Tag Archives: Credit freeze

How to Freeze Your Credit

The recent Equifax data breach exposed the personal identifying information of at least 143 million U.S. consumers, which has led to a wider interest in placing a “security freeze” on credit reports (a.k.a. “freezing your credit”).

A security freeze prevents new credit accounts from being opened using your personal information, unless you lift the freeze in advance of applying for credit. This is accomplished using a PIN that either you or the credit bureaus create when placing the original freeze. This means that a freeze can stop an identity thief from creating new lines of credit, even if they already have all of your information.

A credit freeze is an important tool in preventing one type of identity theft, but does not prevent existing accounts from being accessed with stolen credentials, fraudulent credit or debit card transactions, employment or medical identity theft, or the filing of fraudulent tax returns. In other words, even after you place a security freeze, you still have to remain aware of the risks of identity theft.

There are three major credit bureaus and one minor. Here is where to go for each one, as well as some notes (information is accurate as of 10/2/2017, but websites may be updated in the future):

TransUnion: https://www.transunion.com/credit-freeze/place-credit-freeze2

Notes: use the “Click to initiate freeze process” link (last item under the “How Do I Decide What to Do?” table). Note that a “lock” is different from a freeze; what you want is a freeze. TransUnion requires you to create an account with a password, then you can place the freeze and create your PIN. To temporarily lift the freeze, log in at https://freeze.transunion.com.

Experian: http://experian.com/freeze

Notes: Experian is probably the easiest of the four to use, with the “Add a security freeze” option prominently displayed. You can create your own PIN, or have the site generate one for you. You can also choose whether to print your receipt or have it emailed to you. Double-check that your email address is correct if you choose this option! Visit the same site to temporarily lift the freeze.

Equifax: https://www.freeze.equifax.com

Notes: creates a “one-time PDF” which contains your PIN (the site generates it for you). Make sure you’ve got a PDF reader installed beforehand so you can view the file (Adobe and Foxit are popular free choices). Visit the same site to lift a freeze.

Innovis: https://www.innovis.com/personal/securityFreeze

Notes: Innovis sends your PIN via postal mail around 10 business days after you place the freeze. To lift the freeze, visit the same website and follow the instructions.

Security freeze information for Indiana residents

The Indiana Attorney General’s office has information about security freezes, which are free for residents of Indiana (and some other states—you’ll have to check your own state’s laws if you don’t live here).

You can download the information here, or visit the Indiana Consumer website. I’ll put a link on the Fraud Prevention Resources page as well.

A security freeze (or credit freeze) prevents new lines of credit from being opened in your name, even if an identity thief has your Social Security number and other information, by adding an extra step to the credit application process.

Freeze your credit; if you live in Indiana, that is

Map of USA with Indiana highlighted
Image via Wikipedia

A credit freeze is a really nice tool in the fight against identity theft. Essentially, a freeze makes it impossible for anyone to open new credit accounts in your name even if they have all your personal information.

Of course, it adds a little extra work if you want to open a new line of credit, but I think it’s a fair trade. Besides, didn’t we all learn a little lesson in 2008 about what happens when it’s too easy to obtain credit?

At any rate, it turns out if you’re an Indiana resident you can request a credit freeze free of charge. It’s a right provided by Indiana law to Indiana residents. I don’t know if other states have this type of thing in place (after all, I can’t do research on 49 attorneys general in the time I’m taking to write this). If you ain’t from around here, check online with your state’s attorney general to find out.

You can request a freeze either by paper mail or online. More information is available at the Indiana AG’s website. Check it out today!