Locking Down Your Credit Report

Experian offers credit locks through a paid monthly service.

Locking down your credit report.

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. A credit freeze is something you can put in place to limit others from viewing your credit reports including lenders. For example if you provide a telephone number the business must call you to verify whether you are the person making the credit request. 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.

You log in and lock your transunion and or equifax credit reports. A fraud alert allows creditors to get a copy of your credit report as long as they take steps to verify your identity. You must freeze your credit report at each credit bureau individually since there s no way to freeze all three credit reports at once. Until that happens you can use trustedid to lock and monitor.

Pros and cons of locking your credit. A credit freeze locks down your credit. 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. You must lock your credit reports separately at each nationwide credit bureau equifax experian and transunion.

Transunion offers credit locks through a free service as well as through paid products. However it has been widely reported that equifax will be offering a new credit lock service that is free for life from january 31st. Locking your equifax credit report will not prevent access to your credit report at any other credit reporting agency. Unlocking either or both reports is just as easy as locking them.

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. A credit lock can reduce your chances of becoming an identity theft victim since lenders can t check your credit reports while they re locked. Equifax offers lock alert for free. Here s how to lock your report with each of the major bureaus.

Locking your credit is a procedure that can help prevent identity theft and credit fraud by blocking access to your credit report.