What’s the difference between a credit freeze and credit lock?

Credit Freeze:

• Credit bureaus are mandated by federal law to offer them.
• Free and easy to get from each credit bureau, without special conditions.
• Can be lifted online or by phone – use PIN to change status.
• Potentially time-consuming if you lose your PIN (must order new one by mail).

Credit Lock:

• Offered voluntarily by each credit bureau – free from Equifax & TransUnion and for a fee as part of monthly monitoring service from Experian.
• Can be lifted with an phone app.
• Relatively quick to regain access if you forget a password.

Note: Unlike a credit freeze which you can add and remove from your account as needed, a credit lock requires you to enroll in a program. To make a credit lock most effective, you will need to enroll in the programs at all three of the major consumer credit bureaus — Equifax, Experian and TransUnion. However, once you obtain a credit freeze from one of these three credit bureaus, they must notify the other two about your freeze.

Considering a credit freeze?

A credit freeze blocks information on your credit report from creditors and can help prevent identity theft. It makes it much harder for a hacker or criminal to use your personal and confidential information to steal your assets. When your credit report is frozen, it cannot be viewed – even if a creditor asks for it while reviewing your credit history by name and social security number.

You can get a FREE credit freeze at the following credit bureau links: