Locking Down Your Credit Report

A fraud alert allows creditors to get a copy of your credit report as long as they take steps to verify your identity.

Locking down your credit report.

Pros and cons of locking your credit. Freezing your credit is an extreme step but it s something that might be necessary if you re dealing with identity theft and other measures such as fraud alerts haven t been effective for you. Locking your credit is a procedure that can help prevent identity theft and credit fraud by blocking access to your credit report. Locking your equifax credit report will not prevent access to your credit report at any other credit reporting agency.

Locking your equifax credit report will prevent access to it by certain third parties. For example if you provide a telephone number the business must call you to verify whether you are the person making the credit request. Here s how to lock your report with each of the major bureaus. You can lock and unlock your reports yourself at any time making it faster than a freeze if you need to authorize a legitimate credit check.

You must freeze your credit report at each credit bureau individually since there s no way to freeze all three credit reports at once. Transunion offers credit locks through a free service as well as through paid products. If someone applies for credit in your name access is denied. However it has been widely reported that equifax will be offering a new credit lock service that is free for life from january 31st.

A credit lock also known as a security lock has the same result as a credit freeze but it s easier and quicker to lock and unlock your credit than to freeze and un freeze or thaw it. Experian offers credit locks through a paid monthly service. Credit report locks are mobile app enabled and allow you to lock and unlock your credit reports using identity verification techniques such as usernames passwords and touch id or face id technology. Equifax offers lock alert for free.

Until that happens you can use trustedid to lock and monitor. You must lock your credit reports separately at each nationwide credit bureau equifax experian and transunion. A credit freeze locks down your credit. Unlocking either or both reports is just as easy as locking them.

Requests to freeze your credit report must be made in writing and should include your name address date of birth social security number a copy of a valid id proof of address e g a copy of a utility bill and payment.