How to Freeze Your Credit

Ever wake up to find someone’s opened a dozen credit cards in your name? Total nightmare! With identity theft on the rise, it's crucial to secure your financial fortress. In 2023, the U.S. saw a whopping 1.4 million cases of identity theft. So, how do you protect yourself? You guessed it—freeze your credit!

But don’t freak out—freezing your credit isn’t like putting your money in an icebox. Think of it more like placing your credit in a high-security vault with a sign that says, “Come at me, bro!”

It’s straightforward but requires contacting each of the three major credit bureaus: Experian, TransUnion, and Equifax. Sure, it might feel like dumping three exes at once, but trust me, it’s worth it!

here's a quick look at what we'll cover

credit freeze vs. credit lock

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Key Differences

• Legality and Regulation: A credit freeze is regulated by federal law, making it a more formal and legally binding option. A credit lock, while effective, is a product offered by credit bureaus and is not regulated by law.
• Cost: Credit freezes are often free, whereas credit locks may incur a fee.
• Activation/Deactivation: Credit freezes require a PIN or password for activation and deactivation, which can take some time. Credit locks can be toggled on or off more conveniently through an app or website.

does freezing my credit affect my credit score?

A security freeze will NOT have any impact on your credit score or your existing credit accounts.

Instead, a security freeze serves to prevent lenders from accessing your credit file for inquiries unless you choose to temporarily unfreeze or thaw your credit before applying for credit. When unfreezing or thawing your credit file, ensure you allow enough time to complete the loan application and underwriting process effectively.

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how do i freeze my credit? 

To freeze your credit, you will need to contact each of the three major credit bureaus individually:

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how do i unfreeze my credit?

Unfreezing your credit is straightforward if done online. You can temporarily lift or permanently remove the freeze by contacting the credit bureaus again. You may need the PIN or password you received when you placed the freeze. Each bureau allows you to specify the duration for which you want the freeze lifted or to set a permanent removal.

Here's how to unfreeze your account with: 

• Experian 
• Transunion
• Equifax 

can I freeze my child's credit file?

Yes, you can freeze your child's credit file. To protect the identities of both you and your child who's under 18, complete the minor request form. There are certain forms of documentation you will need as part of this process.

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have more questions? 

You can also always read more about Account Security and Identity Theft on the Skyla website. If you have any other questions, feel free to contact our customer service representatives by email, or give us a call at 704.375.0183.