It's free to freeze your credit. Here’s what you’ll need to do

In today's world, with much of life lived online, data breaches have become common. According to recent FBI statistics, consumers lost more than $16 billion to scammers and cybercriminals in 2024.

While businesses often offer customers credit monitoring immediately after data breaches, the impact of identity theft may linger for years. Knowing how to freeze your credit can help.

A credit freeze simply restricts who can see your credit report. Without a credit report, it’s much harder to open a new account.

Freezing your credit may also be used anytime you’re worried about your identity being exposed, such as a stolen wallet or data breach.

Freezing your credit can also be used as a preventative measure. For example, elderly people who have cognitive impairments and memory loss may be more vulnerable to financial scams. Freezing their credit reports can help prevent that.

It’s free to freeze, and unfreeze, your credit in the U.S. Here’s how.

• Contact all three bureaus: Equifax, TransUnion, and Experian. Or, call them: Equifax 866-478-0027, TransUnion 800-916-8800, and Experian 888-397-3742.
• Store your PINs. When you freeze your credit you’ll get PINs, which you can use to unfreeze your credit. Keep them in a safe place.

In recent years, millions of children have been victims of identity theft, many of them a form called “synthetic” identity theft where a child’s pilfered Social Security number is combined with other data from a real adult to apply for credit. Parents are able to freeze credit for children under age 16.

In general, annual credit checks are a good idea, for both you and any minor children you have. This, too, you can do for free at annualcreditreport.com. Each person is eligible to pull one credit report from each of the bureaus each year. If you pull one every four months on a rotating basis from the three credit bureaus, you’ll have eyes on your credit throughout the year.

Previously published on HerMoney.