What is a credit freeze?

A credit freeze restricts access to your credit report. It can help prevent new lenders from accessing your credit report and keep you or anyone else from opening new accounts in your name. It can be a safeguard against fraud and identity theft.  

Let’s look at what a credit freeze is, what it’s useful for and how to freeze your credit.

How does a credit freeze work?

While your credit is frozen, you — or anyone else — can’t open new accounts in your name. That means freezing your credit can help prevent scammers from opening fraudulent accounts. For example, if they were to apply for a credit card using your information, the credit card issuer may immediately deny the application since they can’t run a hard credit inquiry.

A credit freeze does not block all credit inquiries. For example, landlords, rental agencies, debt collection agencies and lenders with whom you already have accounts may still be able to access your profile. A credit freeze also doesn’t prevent you from building credit or using your existing credit. Your existing accounts remain open, and you can continue using them.

Credit freezes are free, as mandated by federal law. You can freeze your credit online, over the phone or by mail.

Why freeze your credit?

A credit freeze can be a good idea if you think you might be a victim of identity theft, especially if you experience any of the following:

• Credit accounts or inquiries on your credit report from lenders you don’t recognize
• Bills or collection notices for debts you didn’t authorize
• Notifications that you may be a victim of a data breach
• Alerts of unusual or unauthorized activity from your banks or lenders

Because a credit freeze doesn’t impact your ability to build credit, some people freeze their credit as a safeguard even when there is no immediate risk of fraud. This can be a convenient way to protect yourself if you don’t plan to open any new accounts in the near future.

How do you freeze your credit?

To freeze your credit, you must contact each of the 3 major credit bureaus and request a credit freeze. Otherwise, you may not be fully protected. 

There are several ways to do this: 

• Online: You can request a credit freeze by logging into each of the credit bureaus’ websites or creating an account if you don’t already have one. 
• Phone: You can request a credit freeze over the phone by calling each of the major credit bureaus. 
• Mail: You may also freeze your credit by mail. To do this, you’ll need to send the required materials to each of the 3 credit bureaus. You may need a downloadable credit freeze form, as well as documents and information showing proof of identity and address, such as your Social Security number, pay stubs and utility bills. 

The time it takes to freeze your credit depends on the method. For example, if you request a freeze online or by phone, the credit bureaus must freeze your credit within 1 business day. The process is slower if you request via mail. In that case, the credit bureaus must freeze your credit within 3 business days of receiving your request. 

Things to know before a credit freeze

While freezing your credit can help protect you from certain types of fraud, here are a few things you should know: 

• The credit-freeze process: The credit freeze process can vary from credit bureau to credit bureau. You may want to create an account with each of them or save their phone numbers. 
• The limitations: A freeze can only prevent new accounts from being opened in your name. It doesn’t impact already opened accounts, including any that fraudsters may have opened. In addition, it doesn’t prevent other forms of fraud like unauthorized account access or stolen credit cards. 
• The implications: While a credit freeze can help prevent scammers from opening new accounts on your behalf, it also prevents you from opening any new credit accounts. Fortunately, you can easily unfreeze your credit when you need to give a bank or lender access to your credit information and freeze your credit again after. 

How to unfreeze your credit

You can unfreeze (or “thaw”) your credit the same way you can freeze it — online, by phone or by mail. You can permanently thaw your credit, or you may temporarily thaw it by selecting a date range for the thaw. 

How long does it take to lift a credit freeze?

If you thaw your credit online or by phone, credit bureaus must complete the request within 1 hour. If you make your request by mail, they must complete it within 3 business days.

Credit freeze FAQs 

Is there a difference between a credit lock and a credit freeze?

Both credit locks and credit freezes prevent your credit report from being used to open new accounts, but there are key differences. While credit freezes are free and governed by federal law, credit locks are not. Credit locks can offer convenience — you may unlock it instantly using an app — but the service may cost money. 

How does a fraud alert compare to a credit freeze?

Similar to credit freezes, you are legally entitled to free fraud alerts. All 3 major credit bureaus offer fraud alerts. However, unlike a credit freeze, a fraud alert doesn’t block access to your credit report. Instead, it requires creditors to verify your identity before opening a new credit account in your name. Once you notify 1 of the credit bureaus, they are required to contact the other 2 bureaus, which must then place a fraud alert on your credit report. 

There are a few types of fraud alerts, each with different impacts and time limits. In general, however, a fraud alert may be helpful if you are (or are at risk of becoming) a victim of fraud. You may place a fraud alert alongside a credit freeze for dual protection. 

Is a credit freeze the same as a credit card freeze?

No. A credit freeze restricts access to your credit report, while a credit card freeze prevents new charges from being added to that specific account. For example, Citi^® Quick Lock allows card members to block new charges (without impacting recurring charges) to your credit card via the Citi^® Mobile App or their online account. 

Disclosure: This article is for educational purposes. It is not intended to provide legal, investment, or financial advice and is not a substitute for professional advice. It does not indicate the availability of any Citi product or service. For advice about your specific circumstances, you should consult a qualified professional.