Security Freeze Fees - Credit Report Security Freeze | Equifax® (2024)

FAQs

Security Freeze Fees - Credit Report Security Freeze | Equifax®? ›

What are the security freeze fees? Placing, temporarily lifting and permanently removing a security freeze on your credit reports is free.

A credit freeze is free and prevents lenders from checking your credit in order to open a new account.

A consumer credit reporting agency may not charge a fee to a consumer for placing or removing a security freeze if the consumer is a victim of identity theft and submits a copy of a valid police report or valid Department of Motor Vehicles investigative report.

A security freeze prevents prospective creditors from accessing your credit file. Creditors typically won't offer you credit if they can't access your credit reporting file, so a security freeze, also called a credit freeze, prevents you or others from opening accounts in your name.

Placing, temporarily lifting, or removing a security freeze is free.

Cons. You need to remember to unfreeze your reports before applying for new credit accounts. You'll have to manage each of your credit report freezes separately. A security freeze doesn't completely block access to your credit reports — but neither does anything else.

It's the best way to prevent your credit report from being accessed by unscrupulous people. Freezing and unfreezing your credit reports is free and does not affect your credit score. Freezing your child's credit is also free.

By law, you can get a free credit report each year from the three credit reporting agencies (CRAs). These agencies include Equifax, Experian, and TransUnion.

A consumer reporting agency may not charge you any amount to freeze, remove a freeze, temporarily lift a freeze, or lift a freeze with respect to a particular third party, if any of the following are true: (1) Your request is made electronically. (2) You are over the age of 62.

Applying a security freeze prohibits LexisNexis Risk Solutions and SageStream from releasing your LexisNexis Consumer Disclosure Report, your SageStream Consumer Report, or your credit score without your express authorization.

Do I need to freeze credit with all three agencies? ›

You have to submit separate requests with each of the credit bureaus—Experian, TransUnion and Equifax. The request is often completed within a few seconds (or a few days if you mail the request). Your report will stay frozen until you unfreeze, or thaw, it.

Online: You can remove (and reactivate) a security freeze from your Experian credit report quickly and easily. If you have an Experian account, unfreeze your credit by logging in, clicking on "Help Center" and toggling the freeze status to "Unfrozen" or scheduling a future thaw.

System errors, file mixups, data breaches, or even identity theft may be why your credit is frozen without you initiating it. System errors, file mixups, data breaches, or even identity theft may be why your credit is frozen without you initiating it.

Credit freeze services are mandated by federal law and are free. A credit lock is an optional service a credit bureau may offer you for a fee, but it offers fewer legal protections than a freeze.

The three major credit reporting bureaus — Equifax, Experian and TransUnion —sometimes promote their credit lock services. However, there are key differences between the two services. Credit locks can carry a monthly fee, while credit freeze options are free.

Highlights: With a free myEquifax account, you can receive free Equifax credit reports, place a security freeze, fraud alert or submit a dispute. A myEquifax account is FREE, and for anyone to easily view and monitor their Equifax credit report and needs credit report assistance.

To freeze your credit, you have to contact each of the three credit bureaus — TransUnion, Equifax and Experian — individually. Placing a credit freeze is free for you and your children, as is lifting it when applying for new credit.

You can freeze your credit reports for free, but the process can take some time because you'll need to submit a freeze request with each of the three major credit bureaus: Equifax, Experian and TransUnion. Submitting a request through an online account with each bureau is generally the fastest option.

Unfreeze requests: Online or by phone: agencies must lift the freeze within one hour. By mail: agencies must lift the freeze within three business days.