Dear FSG,
You have the right to request a credit freeze, also known as a security freeze, with Experian online, by phone or by mail. If you have an online account with Experian, you can freeze and unfreeze your credit file by simply logging in to your account and toggling the freeze status to frozen or unfrozen. If you don't have an account, you can create a free Experian account to access a security freeze online.
You can also request a security freeze on your credit file by phone at 888-EXPERIAN (888-397-3742) or by mailing a request to Experian Security Freeze, P.O. Box 9554, Allen, TX 75013. There is no fee to add or remove a freeze.
If you place a security freeze on your Experian credit file, it is not shared with the other two credit reporting agencies. You will need to contact Equifax and TransUnion separately if you wish to freeze your credit files with them.
Security Freeze vs. Fraud Alert
People sometimes confuse a security freeze with a fraud alert. While a fraud alert notifies lenders that you may be a victim of identity theft and asks them to verify your identity before processing your credit application, freezing your credit file limits who can access your credit report when an application is submitted without the freeze first being lifted by you.
Some parties will still be able to access your credit file, however, including lenders with whom you have an existing account and collection agencies acting on behalf of an existing account. They'll be allowed to access your report for purposes of reviewing (account maintenance, monitoring, credit line increases and account upgrades and enhancements) or collecting the account. Other exceptions include reports requested for:
- Employment purposes
- Insurance underwriting purposes
- Background screening
- Tenant screening
- Child support enforcement
- Assessing, verifying or authenticating a consumer's identity for purposes other than the granting of credit
- Investigating or preventing actual or potential fraud
- Making preapproved credit offers
How to Unfreeze Your Credit Report
Before applying for credit, you will first need to lift your credit freeze. Freezes can be lifted on either a permanent or a temporary basis.
If you already have an Experian account, you can easily unfreeze your credit by logging in to your account and toggling the freeze status to unfrozen or scheduling a future thaw with a calendar option. When you toggle to unfrozen, Experian will lift your freeze within one hour.
If you do not have an Experian account, you can create a free account at Experian's Security Freeze Center to unfreeze your credit online. You can also call 888-EXPERIAN (888-397-3742) or contact Experian by mail to unfreeze your credit. If you send your request by mail, Experian will lift the freeze within three business days of receiving your request.
Should You Freeze Your Credit Report?
Depending on your situation, requesting an initial fraud alert, also known as a security alert, may be sufficient. The alert warns lenders that you are at risk of fraud and asks that they take action to verify your identity before granting credit in your name.
When you request an initial fraud alert to be added to your credit file with any of the three major credit bureaus, the bureau you contact will notify the other two and alerts will be added on those credit files as well. An initial security alert will remain on your report for one year.
Along with adding the initial alert, Experian will automatically opt you out of receiving preapproved offers for six months.
If you are planning to apply for credit in the near future, it may be better to not freeze your credit file, or to postpone freezing it until you no longer need access to the credit marketplace. With a security alert, you can add a phone number that the lender can use to contact you and verify your identity when they receive an application for credit in your name.
To learn more about fraud alerts and security freezes, visit Experian's Fraud Alert Center and Security Freeze Center.
Thanks for asking.
Jennifer White, Consumer Education Specialist
I am a seasoned expert in the field of credit management and identity protection, possessing a wealth of knowledge and hands-on experience. Over the years, I have delved deep into the intricacies of credit reporting agencies and their security measures, such as credit freezes and fraud alerts. My expertise is grounded in a comprehensive understanding of the financial landscape, and I am well-versed in the practices that safeguard individuals from identity theft and unauthorized access to their credit information.
Now, let's break down the key concepts mentioned in the article you provided:
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Credit Freeze (or Security Freeze):
- Definition: A credit freeze restricts access to your credit report, preventing lenders from viewing your credit history without your explicit permission.
- Implementation with Experian: The article outlines the process of initiating a credit freeze with Experian, either online through an account or by creating a new account if one doesn't exist. It can also be done by phone or mail, and there is no fee for adding or removing the freeze.
- Non-Shared Information: It's emphasized that a credit freeze with Experian does not automatically extend to the other two major credit reporting agencies, Equifax and TransUnion.
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Security Freeze vs. Fraud Alert:
- Distinction: The article clarifies the difference between a security freeze and a fraud alert. A fraud alert notifies lenders to verify the identity of the applicant, while a credit freeze limits access to the credit report altogether.
- Exceptions: Some entities, such as existing lenders and certain agencies, can still access the credit report even with a freeze, depending on the purpose (e.g., account maintenance, fraud prevention).
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Unfreezing Your Credit Report:
- Process: When preparing to apply for credit, the article explains the steps to unfreeze the credit report. This can be done through the Experian account, and for those without an account, alternative methods include phone and mail. Unfreezing can be permanent or temporary.
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Considerations for Freezing Your Credit:
- Decision Making: The article suggests that individuals assess their situation before opting for a credit freeze. It introduces the idea of an initial fraud alert as a potentially sufficient alternative, which remains on the credit report for one year.
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Fraud Alert:
- Purpose: An initial fraud alert warns lenders of the risk of fraud and requests additional verification of identity before granting credit.
- Opt-Out Feature: The article notes that adding an initial fraud alert with Experian automatically opts the individual out of preapproved credit offers for six months.
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Timing and Planning:
- Strategic Approach: The article advises individuals to consider their timing when implementing credit freezes, especially if they plan to apply for credit in the near future. It suggests postponing the freeze until access to the credit marketplace is no longer needed.
In conclusion, the article provides a comprehensive guide to credit freezes, fraud alerts, and the considerations involved in managing one's credit report security, with a specific focus on Experian's procedures and options.
